Find out more about Papaya Global Odbc ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and reputable approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Staff member Website provides workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to worldwide workers despite the number of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local benefits providers in every country, produce regional accounts and have a minimum number of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses dispersed per location, overall employment expenses per cycle and a lot more.
Globally, I have shown management and tactical competence in guiding massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, 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 consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure 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 decade of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles on the provider side and likewise on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 really really dreary and I wish I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to optimize working capital, and find how improving worldwide payroll payments can change them from a troublesome job into a tactical possession.
Handling payroll globally is a daunting job due to various regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of employees and services adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and inadequacies. Regardless of living in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to offer insights and solutions to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more a business spends on international payroll the less of a picture they see a lack of visibility also encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global services have revealed 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 bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the data is shipped to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the necessary several procedures systems and partners it is simply 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 making payments to staff members or otherwise that's a good question I always throw this back and say what is it what does not require to be included best and what does
it need 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 capabilities 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 consumer's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to type of the level of intricacy there's more and more advantages being organ or being used by companies across the world so once again you're just wanting to include increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or genuine challenging type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any company has from a cost perspective from an impact point of view on staff members it is absolutely critical 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 most significant destructive impact on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been surprised entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the first Global Payments very first payroll payment solution is a great primary step um offering an end-to-end payroll service for your employees internationally once again I believe is another huge um process once again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of companies and reducing the variety of tools platforms and bank accounts they need for their Global payroll too couldn't 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 don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyway we know how how important a role it is and that'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 associated with those procedures and likewise so picture sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly 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 but it would absolutely be a fascinating job attempting 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 require days of the week to try to check out them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business pick to primary different bank accounts there are businesses out there doing exactly this for specific nations and I've worked in a business or numerous companies doing exactly that I can state it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anybody where we don't have 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 numerous factors one is it's the standard I think individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering however ultimately individuals are very stuck to what they're familiar
with right um change is a challenging thing we all don't like modification um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having maintaining multiple bank accounts but there's a substantial quantity of intricacy chooses establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial however I think the sincere answer is change um people have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I simply did you changed 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 International staff members you are worthy of a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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