Find out more about Papaya Global And Gdpr ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and dependable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Worker Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to global employees regardless of the number of employees in the company. The business can set up health 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, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment expenses dispersed per location, overall employment expenses per cycle and far more.
environments around the world I provided management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across the business managing and building external relationships supporting Enterprise customers and services along with acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your important 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 industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the service provider side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 raining here it's very really gloomy and I want I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most significantly policies compliance information security and banking guidelines then there are the sheer numbers they include more intricacy the global Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's typically a frustrating variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or extremely extremely standard there's no genuine consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in worldwide payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide companies have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the essential several procedures 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 challenges company face when they're paying to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 anywhere you look right ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is allowing us to sort of move on with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance teams work better together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming progressively elaborate. Companies are continuously presenting brand-new benefits and payment choices, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically advanced period, there's no justification for keeping troublesome treatments. Payroll, the business's biggest expense, should be processed correctly and on time. Even minor hold-ups can adversely affect workers' well-being and have significant effects. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll properly 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 ultimately payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a fantastic first step um providing an end-to-end payroll solution for your employees worldwide again I believe is another big um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and checking account they need for their Worldwide 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 had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 easy as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and really see what was going on and type of shot to return to everybody so moving on appearance why do companies pick to main separate savings account there are companies out there doing exactly this for particular nations and I have actually worked in a service or lots of services doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not purposely doing that we're not producing additional work for any person where we don't have to and anybody that's managing that procedure 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 factors one is it's the standard I believe people have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number 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 gone past to contribute to that people have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering but ultimately individuals are really stuck with what they're familiar
with right um modification is a tough thing all of us do not like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping several checking account but there's a big amount of complexity opts for setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I believe the sincere answer is modification um individuals haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep track of and this technique does position numerous obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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