Find out more about Papaya Global And Covid 19 ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reliable method of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Employee Website
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to global workers despite the number of workers in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits companies in every country, produce regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR incorporate different functions such as monitoring holiday time, guaranteeing compliance, helping with the procedure of inviting brand-new workers and bidding goodbye to departing ones, providing a secure online platform for saving workers' documents, and providing support for work permit procedures in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, overall work expenses per cycle and much more.
Globally, I have actually shown management and tactical proficiency in assisting massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function includes 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.
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone 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 quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I really 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 very bleak and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies maintain different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a troublesome task into a strategic possession.
Managing payroll internationally is a daunting job due to various policies, compliance requirements, data security issues, and banking rules. The large variety of workers and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and a lack of combination, causing disparities and inadequacies. Regardless of living in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and options to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a business spends on global payroll the less of an image they see a lack of presence likewise reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of international organizations have actually expressed 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 mistakes improperly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the data is delivered to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential several processes 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 organization face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of right and what does
it need to be considered there's differing 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 allowing us to sort of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely important that payroll and finance groups work more detailed together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to add to sort of the level of intricacy there's increasingly more benefits being organ or being offered by companies throughout the world so again you're simply looking to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or real challenging kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost viewpoint from an effect perspective on workers it is definitely vital 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 need to be done right it has the most significant detrimental result on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider 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 things is done correctly so leveraging the very first Global Payments first payroll payment solution is a fantastic initial step um supplying an end-to-end payroll solution for your staff members worldwide again I believe is another huge um process again lining up and ensuring you have standardization International processes all of those things are definitely key to success success of companies and minimizing the variety of tools platforms and savings account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever 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 complaints where things have not gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we know how how crucial a function 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task 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 attempt to check out them and in fact see what was going on and sort of shot to get back to everybody so carrying on appearance why do companies choose to main different checking account there are services out there doing exactly this for particular nations and I've worked in a service or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not need to and any person that's managing that procedure 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 believe lots of reasons one is it's the requirement I think individuals 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 think it's simply been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that needs taking a look at it needs changing however ultimately individuals are very stuck with what they're familiar
with best um change is a challenging thing we all don't like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping numerous savings account however there's a substantial amount of intricacy goes with setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big however I think the sincere response is change um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to monitor and this method does present a number of difficulties um so Johnny could you inform us about those obstacles 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 Global employees you should have a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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