Find out more about Papaya Global Issues ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and dependable approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Website supplies workers with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to international employees despite the number of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work costs distributed per area, overall work expenses per cycle and a lot more.
Worldwide, I have actually shown leadership and strategic expertise in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a range of various roles on the supplier side and also on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely dreary and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially beneficial for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a difficult task into a strategic possession.
Managing payroll globally is a challenging task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The large number of workers and services contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and an absence of integration, resulting in disparities and inefficiencies. Despite living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a business invests in global payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're paying to workers or otherwise that's a great concern I constantly throw this back and say what is it what does not need to be consisted of right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to type of move on with that it likewise also to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely imperative that payroll and financing teams work closer together than ever um I'm constantly surprised when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being provided by businesses across the world so again you're just looking to add increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real obstacles or real tough sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from an expense perspective from an effect viewpoint on staff members it is definitely vital that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on people's wellness and lots of other factors if individuals aren't paid uh I have actually always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally as well. For that reason, it is important to ensure that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment option is a fantastic initial action towards offering a comprehensive payroll option for workers worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and savings account necessary for international payroll are key factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we understand how how crucial a function it is which's why we do it that's why we get on with it and this is why we're talking today about making it as easy as possible for everyone that's associated with those procedures and also so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of shot to get back to everybody so moving on look why do companies select to primary separate checking account there are businesses out there doing precisely this for specific nations and I've operated in a business or many services doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for any person where we do not need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a procedure that needs looking at it needs altering but ultimately people are really stuck with what they recognize
with ideal um change is a hard thing we all don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping multiple checking account but there's a substantial quantity of intricacy goes with setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big but I believe the honest answer is change um individuals have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this approach does position several obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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