Find out more about Papaya Global Latest Update ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a significant quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Worker Portal supplies employees with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to worldwide employees no matter the variety of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional benefits service providers in every country, create local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment costs distributed per place, overall employment expenses per cycle and far more.
Globally, I have demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've kind of had a range of different roles on the provider side and also on the supplier side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex difficulty for companies operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to optimize working capital, and discover how improving worldwide payroll payments can change them from a troublesome job into a tactical asset.
Managing payroll globally is a challenging task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing disparities and inefficiencies. Despite living in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more an organization invests in global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international services have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is delivered to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's a great question I always throw this back and state what is it what doesn't require to be included best and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to kind of the level of complexity there's more and more benefits being organ or being offered by services across the world so once again you're just seeking to add increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real challenges or genuine challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to develop 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 an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from an expense viewpoint from an effect point of view on workers it is definitely important that it's done properly and on time so what we indicate 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 impact on people's wellness and numerous other aspects if individuals aren't paid uh I've constantly been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's perceived externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi International and other essential matters are done properly. Using the very first Global Payments very first payroll payment service is a fantastic preliminary action towards supplying a thorough payroll option for workers worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and checking account essential for global payroll are crucial consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how important a role 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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was just gon na say imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and type of shot to get back to everybody so carrying on appearance why do companies pick to main different checking account there are services out there doing exactly this for particular countries and I have actually worked in an organization or numerous services doing precisely that I can state it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for any person where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think people have got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it needs altering however ultimately individuals are really stuck with what they recognize
with best um modification is a difficult thing all of us don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving numerous savings account but there's a big amount of intricacy chooses establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is huge however I believe the truthful response is change um individuals have not had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or two there is a lot to keep an eye on and this method does position a number of obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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