Find out more about Papaya Global Student Loan ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to worldwide employees despite the number of employees in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source regional advantages companies in every nation, develop local accounts and have a minimum variety of employees.
The HR capabilities supplied by Worldwide HR encompass various functions such as keeping track of trip time, guaranteeing compliance, assisting in the process of inviting new employees and bidding farewell to leaving ones, offering a safe and secure online platform for storing employees' files, and offering support for work allow treatments in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses distributed per place, total employment costs per cycle and much more.
Worldwide, I have demonstrated management and strategic know-how in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for a lot of influential companies in the world we offer payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've type of had a range of different functions on the supplier side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating 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 everybody originates from and I truly 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 very really dreary and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset 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.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can change them from a burdensome job into a tactical asset.
Managing payroll worldwide is a difficult task due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The sheer variety of workers and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual processes, data silos, and a lack of integration, leading to disparities and inefficiencies. Despite residing in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and services to simplify and optimize worldwide payroll payments.
about it to give you an idea 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 provides me sleep deprived nights and quite frankly the more a business invests in worldwide payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually expressed that they do not 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 data information entry errors poorly communicated hires and terminations as well as absence management and system configurations and after that when you round all of it off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a good question I constantly throw this back and state what is it what does not need to be included right and what does
it require to be thought about there's varying 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 have 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 ideal ultimately building a knowledge base is definitely important but all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more essential to contribute to sort of the level of complexity there's more and more benefits being organ or being used by organizations across the world so again you're just looking to add more and more payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would definitely say that the bigger a company 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 managing the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from an expense point of view from an impact point of view 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 greatest damaging result on people's well-being and lots of other elements if individuals aren't paid uh I have actually always been astonished coming 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 anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a great primary step um supplying an end-to-end payroll option for your staff members globally once again I think is another big um process once again lining up and ensuring you have standardization International procedures all of those things are absolutely crucial to success success of services and reducing the number of tools platforms and checking account they need for their Global 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 don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how essential 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 everybody that's associated with those procedures and also so imagine sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so moving on appearance why do companies select to main separate bank accounts there are businesses out there doing exactly this for specific countries and I have actually operated in a company or many services doing precisely that I can state it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anybody 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 think many factors one is it's the requirement I think people have actually got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a process that needs looking at it needs altering however ultimately people are really stuck with what they're familiar
with best um modification is a tough thing we all don't like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having maintaining several bank accounts but there's a substantial amount of intricacy chooses establishing a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big however I think the truthful response is modification um people haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically 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 difficulties yeah obviously so there's a variety right there is so
I just 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 more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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