Find out more about Remove Company From Papaya Global List ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and reputable approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to international staff members no matter the variety of workers in the company. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source regional advantages providers in every country, produce regional accounts and have a minimum number of employees.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall employment costs distributed per location, overall employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in guiding massive populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce 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 important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly 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 raining here it's really really dreary and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how companies anticipate payroll expenses to optimize working capital, and discover how streamlining worldwide payroll payments can change them from a burdensome task into a tactical possession.
Managing payroll internationally is a challenging task due to various policies, compliance requirements, data security issues, and banking rules. The sheer variety of workers and organizations adds to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual procedures, data silos, and a lack of integration, leading to disparities and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to supply insights and solutions to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on global payroll the less of a photo they see a lack of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of international businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's an excellent concern I always throw this back and say what is it what does not require to be included ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they are like incredibly payments no if however 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to sort of move forward with that it also as well to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when people say I've 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 divide 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 process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to kind of the level of intricacy there's more and more advantages being organ or being offered by organizations across the world so again you're just aiming to add more and more payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or real tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not 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 that we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from an expense perspective from an impact perspective on staff members it is absolutely important that it's done correctly and on time so what we imply 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 harmful effect on individuals's wellness and numerous other factors if people aren't paid uh I've constantly been impressed coming into this Market sort of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just discover when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the very first International Payments first payroll payment service is a great preliminary action towards supplying a comprehensive payroll service for workers worldwide. Standardization, international processes, and reducing the number of tools, platforms, and checking account needed for international payroll are key factors in accomplishing organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know how how essential 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 everybody that's involved in those processes and also so imagine sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of try to return to everyone so moving on look why do business pick to main separate bank accounts there are companies out there doing exactly this for specific countries and I've operated in an organization or lots of businesses doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not need to and anybody that's managing 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 amount that we are I believe lots of reasons one is it's the standard I believe people have actually got so used to we require a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it needs changing but eventually people are really stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like modification um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving numerous bank accounts however there's a big quantity of complexity chooses establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity is big however I think the truthful answer is change um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or two there is a lot to keep an eye on and this method does present numerous difficulties um so Johnny might you tell us about those difficulties yeah naturally 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner workplace with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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