Find out more about Papaya Global Latest Version Number ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a substantial amount of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global workers regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages companies in every country, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs dispersed per location, overall employment expenses per cycle and far more.
Worldwide, I have shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 staff members across 170 countries. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My role includes managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I've type of had a variety of different functions on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join we all 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 simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really bleak and I want I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to optimize working capital, and discover how simplifying international payroll payments can change them from a troublesome task into a tactical asset.
Managing payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The large number of workers and services contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. Regardless of residing in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and enhance global 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 Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on global payroll the less of a picture they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations along with absence management and system setups and then when you round everything off and the data is shipped to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the required multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included best and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's intricacy any place you look best eventually building a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to sort of move on with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely necessary that payroll and finance groups work more detailed together than ever um I'm always astonished when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 procedure it's the point of information 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 reside in and well-being being increasingly more important to add to type of the level of intricacy there's increasingly more advantages being organ or being offered by services throughout the world so again you're just wanting to include a growing number of payments to this already complicated landscape so if you sort 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 genuine obstacles or real difficult sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the bigger a company 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 teams feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and a period that you know that we are operating in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact perspective on staff members it is absolutely crucial that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful impact on people's well-being and many other aspects if people aren't paid uh I have actually constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is an excellent primary step um supplying an end-to-end payroll option for your workers internationally once again I think is another big um process once again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of businesses and decreasing the number of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyway we know 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and type of shot to return to everyone so carrying on appearance why do companies select to main separate checking account there are services out there doing exactly this for specific nations and I have actually operated in a business or numerous businesses doing precisely that I can state it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not have to and any person that's dealing with 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 quantity that we are I think numerous reasons one is it's the standard I believe people have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing however ultimately individuals are extremely stuck with what they're familiar
with best um change is a difficult thing all of us don't like change um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having keeping several savings account however there's a substantial quantity of intricacy chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is huge but I think the truthful answer is change um people haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or so there is a lot to track and this approach does present numerous difficulties um so Johnny could you tell us about those obstacles yeah obviously 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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