Find out more about Papaya Global Relocate Data ... We now have the ability 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 particularly dedicated to handling payments. This provides us with a safe and secure and reputable method of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Employee Website supplies employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international staff members despite the number of workers in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages service providers in every country, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment costs dispersed per area, total work expenses per cycle and far more.
Worldwide, I have actually shown management and strategic knowledge in directing massive populations of over 100,000 employees across 170 nations. Presently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My function includes handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the supplier side and likewise on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really 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 really extremely gloomy and I wish I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset 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, effective, and timely payroll payments is a complex obstacle for services operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a difficult task into a tactical possession.
Managing payroll worldwide is a challenging task due to various guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of employees and businesses contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of integration, leading to disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and options to simplify and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure 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 don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is shipped to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're paying 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 require to be considered there's differing Bank information 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to type of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly surprised when people say I have actually split 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 split 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 process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to type of the level of complexity there's increasingly more advantages being organ or being provided by companies across the world so once again you're simply aiming to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or genuine difficult sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an era 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 stated payroll is the single greatest liability that any company has from an expense viewpoint from an impact perspective on staff members it is definitely vital that it's done properly and on time so what we suggest 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 effect on individuals's well-being and numerous other aspects if people aren't paid uh I've always been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just notice when things fail. However, when things go right, it's seen as just a regular task. This is how it's perceived externally also. Therefore, it is essential to guarantee that jobs like Wi-Fi Global and other essential matters are done properly. Using the first International Payments very first payroll payment service is a great preliminary step towards providing an extensive payroll service for employees worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account necessary for global payroll are essential factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how essential a function 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 everybody that's involved in those processes and also so think of sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean up 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 require days of the week to try to check out them and actually see what was going on and kind of shot to get back to everybody so moving on look why do business select to primary different checking account there are companies out there doing precisely this for specific countries and I've worked in a business or many companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not developing additional work for anyone where we don't have to and anybody that's managing 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 think numerous reasons one is it's the requirement I think people have got so utilized to we require a 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 believe it's just been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a challenging thing all of us do not like change um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping several checking account but there's a substantial quantity of complexity opts for setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is substantial however I think the honest answer is change um individuals haven't been able to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep an eye on and this method does pose a number of difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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