Find out more about Papaya Global Small Employers Relief ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and dependable approach of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
The Employee Portal provides workers with the ability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to global workers regardless of the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every nation, develop local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses dispersed per location, overall work expenses per cycle and much more.
Worldwide, I have demonstrated leadership and strategic expertise in directing large-scale populations of over 100,000 employees across 170 countries. Currently, I am responsible for managing payroll techniques, as discussed by Mark. My role involves handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various functions on the service provider side and also on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind 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 sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and handling them becomes a growing number of intricate Global companies are wanting to find Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment standpoint lots of organizations maintain separate checking account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain different checking account sometimes in different nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business streamline the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for companies operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a strategic property.
Managing payroll internationally is a complicated job due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and organizations contributes to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a company spends on global payroll the less of an image they see a lack of presence also extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is delivered to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they depend on the needed numerous 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 difficulties business face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't need to be included best and what does
it need to be thought of 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 abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly 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 believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to kind of progress with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance teams work more detailed together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the compensation landscape is ending up being progressively elaborate. Organizations are continuously presenting brand-new benefits and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative era, there's no validation for keeping cumbersome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even slight hold-ups can adversely affect staff members' well-being and have far-reaching repercussions. Therefore, it's vital to prioritize accurate and prompt payments.
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just see when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. Therefore, it is important to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the very first Global Payments first payroll payment service is a terrific preliminary step towards offering a comprehensive payroll option for employees worldwide. Standardization, global processes, and decreasing the variety of tools, platforms, and savings account essential for international payroll are key consider accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyhow we understand 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 everyone that's involved in those processes and likewise so imagine sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and type of shot to get back to everyone so proceeding appearance why do companies pick to main different bank accounts there are services out there doing precisely this for particular nations and I have actually worked in a service or many companies doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires altering however eventually people are very stuck with what they're familiar
with right um modification is a hard thing we all don't like modification 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 things um I comprehend obviously the advantages of having keeping numerous savings account however there's a big amount of intricacy chooses establishing a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual people so the complexity is substantial but I believe the truthful response is modification um people have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be figured out to be the next Century approximately there is a lot to track and this approach does present several obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I simply did you switched our Business 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 Worldwide workers you should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global