Find out more about Papaya Global Background Update Problems ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and trusted approach of paying to our 10,000 employees 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 professionals
The Worker Website provides employees with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to international workers regardless of the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, produce local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work expenses dispersed per place, total employment costs per cycle and a lot more.
Internationally, I have demonstrated management and tactical proficiency in guiding massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce 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, regardless of your place. It's an enjoyment 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 services for the past 7 years. The complexities and challenges of this field have constantly 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 variety of different roles on the provider side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join all of us 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 everybody is um it's nice to to type of like see where everybody comes from and I truly 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 raining here it's very very uninspiring and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business maintain separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business forecast payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll worldwide is a challenging task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of staff members and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. In spite of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to offer insights and options to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of global organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations in addition to lack management and system setups and after that when you round all of it off and the data is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they depend on the necessary numerous 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 challenges business face when they're making payments to employees or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some babies 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 believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to sort of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely necessary 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 occupation would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to add to kind of the level of intricacy there's more and more advantages being organ or being provided by businesses throughout the world so once again you're just looking to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info 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 always need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost point of view from an impact viewpoint on employees it is absolutely critical 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 need to be done right it has the most significant damaging result on people's well-being and many other factors if people aren't paid uh I've always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has actually been told 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 employees or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise 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 very first payroll payment service is a fantastic first step um supplying an end-to-end payroll service for your staff members globally once again I think is another big um procedure again aligning and ensuring you have standardization International processes all of those things are definitely crucial to success success of organizations and minimizing the variety of tools platforms and bank accounts they require 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 ever had a hundred thousand of them within a payroll cycle don't 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 rather where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 everyone that's involved in those procedures and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to return to everybody so carrying on appearance why do business select to primary different checking account there are businesses out there doing precisely this for particular nations and I've worked in a business or lots of services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't need to and any person that's handling 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 believe many factors one is it's the requirement I think people have actually got so used to we need a brand-new checking 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 just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a process that requires looking at it needs altering but ultimately people are extremely stuck to what they're familiar
with ideal um change is a hard thing all of us don't like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving numerous bank accounts but there's a huge quantity of intricacy opts for establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big but I believe the honest response is modification um individuals have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century approximately there is a lot to monitor and this technique does present a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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