Find out more about Papaya Global Attachment Of Earnings Protected Earnings ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a secure and reputable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Employee Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to global workers no matter the number of workers in the company. The business can establish health insurance, short-term and long-lasting disability, 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 Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment costs dispersed per area, overall work costs per cycle and far more.
Worldwide, I have actually shown management and strategic proficiency in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll strategies, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most influential companies worldwide we offer payroll payments and labor force management to all staff member types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon great evening depending upon where you remain in the world it's beautiful to satisfy you and thank you quite for your time as Ian said 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 specifically dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of various roles on the service provider side and also on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody 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 certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies keep separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to enhance working capital, and find how improving global payroll payments can transform them from a challenging job into a tactical property.
Managing payroll internationally is a difficult job due to different regulations, compliance requirements, information security issues, and banking rules. The large variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and a lack of integration, leading to disparities and ineffectiveness. Regardless of living in an age of technological developments, payroll management has been slow to adapt, 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 simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information 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 picture they see an absence of visibility likewise encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of global businesses have actually revealed 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 because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the data is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they rely on the necessary several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be included ideal 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 nation there's payment timespan 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 client's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to sort of move on with that it also too 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 imperative that payroll and financing teams work better together than ever um I'm constantly impressed when people say 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 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the compensation landscape is ending up being increasingly intricate. Businesses are continuously introducing new advantages and payment options, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly advanced age, there's no validation for maintaining cumbersome treatments. Payroll, the company's biggest expense, should be processed properly and on time. Even small delays can adversely affect employees' wellness and have far-reaching repercussions. For that reason, it's crucial to prioritize accurate and timely payments.
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just observe when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's perceived externally too. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a great preliminary step towards supplying a detailed payroll option for workers worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts needed for global payroll are crucial factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow we know how how important 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 easy as possible for everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely 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 held true um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to return to everyone so moving on look why do business select to primary different savings account there are services out there doing exactly this for particular countries and I've worked in a company or numerous services doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and anybody that's dealing with 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 quantity that we are I think lots of reasons one is it's the standard I think people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals 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 range I think this is a procedure that requires taking a look at it requires changing but eventually individuals are very stuck to what they recognize
with ideal um modification is a tough thing we all do not like modification um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining numerous savings account however there's a huge quantity of complexity chooses establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is substantial however I believe the honest response is change um people haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep track of and this approach does position several challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business 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 gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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