Find out more about Papaya Global New Employee ... 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 devoted to managing payments. This offers us with a safe and secure and trusted approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to global staff members despite the number of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits providers in every nation, produce regional accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall work costs dispersed per place, overall employment expenses per cycle and much more.
Globally, I have actually demonstrated leadership and tactical competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to satisfy 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 decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the provider side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very gloomy and I wish I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical property uh we'll likewise review a recap and that ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them becomes increasingly more complicated Worldwide companies are aiming to discover Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment perspective lots of organizations maintain different bank account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep separate checking account in some cases in different nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business enhance the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a strategic property.
Handling payroll globally is a challenging task due to different policies, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual processes, information silos, and an absence of integration, causing inconsistencies and inadequacies. Regardless of living in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of global services 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 inadequately communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the required several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's a good concern I always toss this back and say what is it what doesn't need to be consisted of best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely vital but all over you look with payroll payment they resemble super payments no if but 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of move on with that it also also to contribute to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd 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 provided by services across the world so again you're simply seeking to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact point of view on workers it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful impact on people's wellness and many other aspects if people aren't paid uh I've always been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just notice when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is important to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first International Payments very first payroll payment solution is a fantastic preliminary action towards offering a comprehensive payroll solution for employees worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and bank accounts necessary for international payroll are essential factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as prepared. Eventually, we do not do it for the appreciation.
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 everyone that's associated with those processes and also so envision sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and sort of shot to return to everybody so proceeding look why do companies select to primary different checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a company or numerous organizations doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for any person where we don't need to and any person that's handling 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 quantity that we are I believe lots of factors one is it's the requirement I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a process that needs taking a look at it needs altering however eventually people are really stuck with what they're familiar
with right um change is a difficult thing all of us do not like modification um so I believe it's simply sort 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 clearly the benefits of having maintaining numerous savings account however there's a big amount of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is huge but I think the sincere response is change um individuals haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or so there is a lot to track and this method does position several difficulties um so Johnny could you inform us about those obstacles yeah of course 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 more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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