Find out more about Papaya Global And Furloughed Employees ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and trustworthy method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Worker Website
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and employment files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to worldwide staff members despite the number of employees in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities supplied by International HR incorporate various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to departing ones, providing a protected online platform for saving employees' documents, and providing assistance for work permit treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment expenses dispersed per area, overall work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic competence in directing massive populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for supervising payroll strategies, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of 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 actually focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of various functions on the provider side and likewise on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort 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 extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business maintain different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various nations, 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 go over why they are becoming a tactical possession for payroll executives. We will likewise offer a recap 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 challenge for businesses operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and discover how streamlining international payroll payments can transform them from a challenging task into a tactical possession.
Handling payroll worldwide is a daunting task due to various policies, compliance requirements, information security concerns, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual processes, data silos, and a lack of integration, leading to inconsistencies and inefficiencies. In spite of living in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of international organizations 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 because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the information is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they depend on the required multiple 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 obstacles organization face when they're paying to employees or otherwise that's a great question I always throw this back and state what is it what does not require to be consisted of right and what does
it need 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is definitely crucial however all over 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 recognition that payroll payments are definitely basic and innovation is allowing us to kind of progress with that it also also to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 frequently 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 any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial to contribute to sort of the level of complexity there's a growing number of advantages being organ or being offered by businesses throughout the world so again you're just wanting to add increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real challenges or real challenging sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost point of view from an impact point of view on employees it is absolutely crucial that it's done correctly and on time so what we suggest 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 many other elements if individuals aren't paid uh I've always been impressed entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has been informed 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 staff members or not um however eventually payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is an excellent first step um supplying an end-to-end payroll service for your employees internationally once again I think is another big um process again lining up and ensuring you have standardization International processes all of those things are definitely essential to success success of services and lowering the number of tools platforms and checking account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't envision 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 actually see what was going on and sort of try to return to everyone so proceeding appearance why do business select to primary separate savings account there are services out there doing precisely this for specific nations and I've operated in a service or lots of businesses doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing extra work for anybody where we don't need to and anyone 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 quantity that we are I believe many reasons one is it's the standard I think individuals have actually got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals 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 many other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing however eventually people are very stuck with what they're familiar
with best um change is a difficult thing we all do not like change um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having preserving numerous bank accounts but there's a big quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the intricacy is substantial but I believe the truthful answer is change um people haven't had the ability to alter or haven't had necessarily the understanding 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 think it is knowledge you know and there is an element of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century approximately there is a lot to monitor and this method does present numerous challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just did you changed 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 staff members you should have a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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