Find out more about Papaya Global And Thunderbird ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and dependable method of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app improves my payroll process, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to international staff members despite the number of workers in the business. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, develop local accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, overall employment costs distributed per location, overall work expenses per cycle and a lot more.
Internationally, I have shown leadership and strategic proficiency in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function includes handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of prominent business worldwide we supply payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good evening depending on where you remain in the world it's lovely to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
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 variety of different functions on the provider side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well one of 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 quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually 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 drizzling here it's very really uninspiring and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll likewise review a wrap-up and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and handling them becomes more and more intricate International companies are seeking to find Solutions and new ways to enhance procedures particularly from a payroll and cross-border payment perspective many companies keep different bank account just for payroll while some have multiple accounts in different countries does it make sense for business to keep separate checking account sometimes in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies streamline the episode complex processes of
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a troublesome job into a strategic property.
Handling payroll globally is a complicated job due to numerous guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of workers and services contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and a lack of combination, leading to disparities and inadequacies. Regardless of living in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and services to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see a lack of visibility also extends to payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide organizations have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round all of it off and the data is shipped to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they count on the required 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 difficulties company face when they're making payments to employees or otherwise that's a good concern I always throw this back and say 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 details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some infants 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 absolutely essential and technology is permitting us to kind of progress with that it also as well to contribute to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work 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 process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being used by organizations throughout the world so once again you're simply seeking to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real difficulties or genuine difficult kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason why 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 service has from an expense perspective from an impact point of view on workers it is definitely critical that it's done correctly 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 most significant destructive result on individuals's well-being and lots of other factors if people aren't paid uh I've constantly been surprised entering this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals 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 important to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the very first Worldwide Payments first payroll payment solution is a fantastic initial step towards providing an extensive payroll option for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts required for worldwide payroll are crucial consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as planned. Ultimately, we do not do it for the appreciation.
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 everyone that's involved in those procedures and also so picture 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'm sure we're speaking about numerous thousands possibly Millions picture 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 certainly be an interesting job attempting to clean 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 need days of the week to attempt to check out them and actually see what was going on and kind of shot to get back to everybody so moving on look why do companies choose to main separate savings account there are services out there doing precisely this for particular countries and I have actually worked in a service or many companies doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for any person where we don't need to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I believe individuals have actually got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing but eventually people are really stuck with what they recognize
with right um change is a difficult thing all of us don't like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having keeping several savings account however there's a substantial quantity of intricacy goes with setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is substantial but I believe the truthful response is change um individuals have not been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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