Find out more about Papaya Global Background Color ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to global workers despite the number of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall employment expenses distributed per area, overall employment costs per cycle and much more.
Globally, I have demonstrated leadership and strategic proficiency in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give 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 just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really bleak and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll likewise discuss a recap which must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and handling them becomes more and more intricate International organizations are seeking to discover Solutions and new methods to streamline procedures especially from a payroll and cross-border payment viewpoint numerous companies keep different checking account just for payroll while some have numerous accounts in different nations does it make sense for business to maintain different savings account often in different countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping international companies enhance the episode complex processes of
Making sure precise, effective, and prompt payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a difficult job into a strategic possession.
Managing payroll worldwide is a difficult task due to different policies, compliance requirements, data security issues, and banking rules. The sheer variety of workers and organizations adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often result in manual processes, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite living in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and options to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide businesses have 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 because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the necessary several procedures systems and partners it is just 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 workers or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is definitely crucial however all over 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 type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to type of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely imperative that payroll and finance teams work better together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of intricacy there's increasingly more benefits being organ or being provided by businesses across the world so once again you're just aiming to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or genuine challenging sort of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years 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 task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any service has from a cost point of view from an effect perspective on employees it is definitely vital that it's done properly and on time so what we indicate 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 detrimental result on people's well-being and many other elements if people aren't paid uh I have actually constantly been amazed entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is a great first step um offering an end-to-end payroll service for your employees worldwide once again I believe is another substantial um process once again aligning and guaranteeing 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 checking account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial a function 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 everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions envision getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting 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 need days of the week to attempt to look through them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do companies choose to main different savings account there are businesses out there doing precisely this for specific countries and I've operated in an organization or many organizations doing exactly that I can say it does not always feel efficient and it does create more work I know we're not purposely doing that we're not creating extra work for anybody where we don't need to and anybody that's managing 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 think many reasons one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I think this is a process that needs looking at it needs altering however eventually individuals are extremely stuck to what they recognize
with best um modification is a hard thing we all don't like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving several bank accounts but there's a big amount of intricacy goes with establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is substantial however I believe the truthful answer is change um people haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge 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 might almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does posture several challenges um so Johnny might you inform us about those difficulties 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 jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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