Find out more about Papaya Global Online Help ... 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 actually obtained a different Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll process, saving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Staff member Website supplies employees with the ability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to international employees despite the number of staff members in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, create local accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses distributed per place, total employment expenses per cycle and a lot more.
Globally, I have demonstrated management and tactical know-how in guiding massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for managing payroll techniques, as discussed by Mark. My function involves managing and developing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for a lot of prominent business on the planet we provide payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've sort of had a range of different functions on the supplier side and also on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing 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 originates from and I actually 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 raining here it's really extremely uninspiring and I want I was elsewhere at this moment in time alright 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 handling International payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a recap which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and managing them ends up being a growing number of complicated International companies are seeking to find Solutions and new methods to simplify processes especially from a payroll and cross-border payment perspective many organizations maintain different checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep different savings account often in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business improve the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business anticipate payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can change them from a difficult job into a tactical possession.
Handling payroll globally is a challenging job due to numerous guidelines, compliance requirements, data security issues, and banking rules. The large variety of workers and services contributes to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. Regardless of living in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to offer insights and options to simplify and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on global payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of international companies have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they count on the required numerous procedures 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 difficulties company face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what doesn't need to be included ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the customer's own in-country account so there's intricacy any place you look ideal eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to sort of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely important that payroll and finance groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to sort of the level of intricacy there's more and more benefits being organ or being used by services across the world so again you're just aiming to add more and more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real challenges or genuine challenging type of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we run in they simply 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 a period that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from an expense perspective from an effect perspective on workers it is absolutely important 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 have to be done right it has the biggest harmful effect on individuals's well-being and numerous other aspects if people aren't paid uh I've constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is important to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Using the first Worldwide Payments first payroll payment option is a great preliminary action towards providing an extensive payroll option for staff members worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account essential for worldwide payroll are crucial factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand how how crucial 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 easy as possible for everyone that's involved in those processes and also so imagine sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everyone so carrying on appearance why do business pick to primary different checking account there are companies out there doing exactly this for particular countries and I've operated in a company or lots of organizations doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't have to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I believe individuals have got so used to we need a new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just 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 looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a variety I think this is a procedure that requires looking at it needs altering but ultimately people are really stuck to what they're familiar
with ideal um change is a tough thing all of us don't like change um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving multiple savings account but there's a huge amount of complexity chooses establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is substantial however I think the sincere response is modification um individuals have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be identified to be the next Century or so there is a lot to monitor and this method does pose a number of difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise 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 actually acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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