Find out more about Papaya Global Outsourcing ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a secure and reliable approach of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a substantial quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Staff member Website supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to worldwide staff members despite the number of workers in the company. The business can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every nation, develop regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment expenses distributed per place, overall employment expenses per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and options as well as serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to employees 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 place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually sort of had a range of different roles on the company side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to optimize working capital, and discover how simplifying global payroll payments can change them from a challenging job into a strategic asset.
Handling payroll globally is an overwhelming job due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often result in manual processes, information silos, and a lack of combination, resulting in disparities and ineffectiveness. Regardless of living in an age of technological advancements, 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 goals to supply insights and solutions to streamline 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 businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of worldwide services have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors badly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they depend on the needed numerous processes systems and partners it is just 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 paying to employees or otherwise that's a good concern I always toss this back and say what is it what does not need to be included ideal and what does
it require to be thought of 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 anywhere you look best ultimately developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble 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 in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to contribute to type of the level of complexity there's more and more benefits being organ or being provided 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 large experience here and I make sure however have you got any experience in kind of real difficulties or genuine challenging sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would definitely state that the larger an organization 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 groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create 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 need to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost viewpoint from an impact point of view on workers it is definitely crucial 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 have to be done right it has the biggest damaging impact on people's wellness and lots of other elements if individuals aren't paid uh I have actually constantly been impressed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle we all become aware of it when it fails everyone 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent first step um providing an end-to-end payroll service for your workers worldwide again I believe is another big um procedure again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of services and decreasing the number of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how crucial 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 easy as possible for everyone that's associated with those processes and also so envision sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean 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 need days of the week to try to check out them and in fact see what was going on and type of shot to get back to everyone so carrying on look why do companies select to primary separate savings account there are companies out there doing exactly this for particular nations and I've worked in a company or lots of organizations doing exactly that I can state it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we don't need to and any person that's dealing with that process 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 believe numerous factors one is it's the requirement I believe people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it needs changing however eventually individuals are very stuck with what they're familiar
with ideal um modification is a difficult thing we all don't like change um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having preserving multiple savings account but there's a big amount of complexity chooses establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is huge but I believe the sincere response is modification um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or two there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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