Find out more about Payment After Leaving Papaya Global ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Worker Portal supplies workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global helps companies use competitive benefits plans to international employees no matter the number of staff members in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, create local accounts and have a minimum number of staff members.
The HR capabilities offered by Worldwide HR incorporate various functions such as keeping track of trip time, making sure compliance, assisting in the process of inviting new staff members and bidding farewell to departing ones, offering a secure online platform for keeping employees' documents, and supplying assistance for work allow procedures in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work costs dispersed per area, total work expenses per cycle and much more.
Worldwide, I have actually shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for overseeing payroll techniques, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying 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 introduce himself. Good day to all, despite your place. It's a satisfaction to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually kind of had a range of different roles on the provider side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business maintain different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to enhance working capital, and find how enhancing global payroll payments can change them from a burdensome job into a tactical property.
Managing payroll internationally is a challenging job due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The large number of employees and organizations contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of combination, resulting in disparities and inefficiencies. Despite living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to provide insights and services to streamline and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business 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 cause compliance incidents in the last mile of the deal nearly half of worldwide services have 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 data data entry mistakes improperly communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the data is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they depend on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 client's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to sort of progress with that it also also to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work better together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals any place 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 crucial to add to sort of the level of intricacy there's more and more advantages being organ or being used by companies across the world so once again you're simply aiming to include more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an impact viewpoint on employees it is definitely 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 destructive effect on people's wellness and numerous other factors if individuals aren't paid uh I have actually always been surprised entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for properly 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 essential cycle, and people only notice when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally also. For that reason, it is necessary to guarantee that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first International Payments very first payroll payment option is a fantastic preliminary action towards providing a thorough payroll option for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and checking account essential for international payroll are crucial consider attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyway we understand how how crucial 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 simple as possible for everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean up 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 in fact see what was going on and kind of shot to return to everybody so carrying on appearance why do business choose to primary different savings account there are companies out there doing precisely this for specific nations and I've operated in a service or numerous businesses doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we do not need to and any person that's dealing with that process 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 think lots of reasons one is it's the standard I think individuals have 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 requirement and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it requires altering however eventually people are extremely stuck to what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping several bank accounts but there's a big quantity of complexity goes with setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is big however I think the truthful response is modification um individuals haven't been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might 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 might you inform us about those challenges yeah of course so there's a variety 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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