Find out more about Papaya Global Calendar 19/20 ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reliable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, conserving me a significant quantity of time each month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international workers no matter the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source local benefits providers in every country, create regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs dispersed per location, total work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical know-how in guiding large-scale populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for managing payroll methods, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting 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 everybody originates from and I truly do hope it's much sunnier than it is 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 really extremely gloomy and I want I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a strategic asset uh we'll likewise go over a recap which must leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more typical and managing them ends up being a growing number of complex International companies are looking to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment standpoint many organizations maintain separate bank account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep different checking account sometimes in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies enhance the episode complex procedures of
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to optimize working capital, and find how improving international payroll payments can change them from a burdensome job into a strategic property.
Managing payroll globally is a complicated task due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and services contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of integration, leading to disparities and inefficiencies. In spite of living in an era of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a service invests in international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal almost half of global organizations have revealed 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 bad HCM data information entry errors improperly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the essential 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 challenges organization face when they're paying to workers or otherwise that's a great question I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought about there's differing 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to kind of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely vital 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 does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to contribute to sort of the level of intricacy there's more and more advantages being organ or being offered by businesses across the world so again you're simply wanting to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or real tough kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would certainly state that the larger an organization 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 info into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any company has from a cost viewpoint from an impact point of view on staff members it is absolutely crucial 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 need to be done right it has the greatest destructive result on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been impressed coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment service is a fantastic first step um supplying an end-to-end payroll service for your employees internationally once again I believe is another huge um process once again lining up and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless 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 do not believe any of us are really doing that for for the thanks
anyway we know how how crucial a role 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 simple as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task trying 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 require days of the week to attempt to browse them and in fact see what was going on and sort of try to return to everyone so proceeding look why do business select to primary separate savings account there are companies out there doing exactly this for particular nations and I've worked in a company or lots of services doing exactly that I can say it does not always feel effective and it does develop more work I know we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think individuals have got so used to we require a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually embraced 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 numerous other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing however ultimately individuals are really stuck with what they recognize
with ideal um change is a tough thing we all do not like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having maintaining numerous savings account however there's a substantial quantity of intricacy opts for establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is big however I think the honest response is change um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I believe 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 genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep track of and this technique does posture numerous obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a variety 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 International staff members you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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