Find out more about Papaya Global Change Data Location ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll procedure, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to worldwide workers no matter the variety of staff members in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, produce regional accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR include different functions such as keeping an eye on holiday time, making sure compliance, assisting in the procedure of welcoming brand-new employees and bidding goodbye to departing ones, using a protected online platform for keeping workers' documents, and supplying support for work allow procedures in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work expenses dispersed per area, total employment costs per cycle and far more.
Globally, I have actually shown leadership and strategic competence in guiding massive populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My function involves managing and establishing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused 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 kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the company side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really uninspiring and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll costs to enhance working capital, and discover how enhancing international payroll payments can change them from a burdensome task into a strategic property.
Managing payroll globally is a difficult task due to various guidelines, compliance requirements, data security concerns, and banking rules. The large number of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual processes, data silos, and an absence of combination, leading to disparities and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be included right and what does
it need to be thought about 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 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 wherever you look right eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to type of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data 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 reside in and wellness being increasingly more important to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're simply wanting to include increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or genuine challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would certainly say 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 in fact managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from a cost point of view from an effect perspective on staff members it is definitely critical that it's done properly and on time so what we imply 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 effect on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been surprised entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly 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 we all find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think 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 crucial that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is a terrific first step um supplying an end-to-end payroll option for your employees globally again I believe is another huge um process again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Worldwide 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 ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway 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 everybody that's involved in those processes and likewise so imagine sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and sort of try to get back to everybody so carrying on appearance why do companies select to primary different savings account there are organizations out there doing exactly this for particular countries and I have actually worked in a service or many companies doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not creating extra work for anyone where we don't have to and any person 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 believe many reasons one is it's the requirement I think individuals have actually got so used to we need a new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a process that requires taking a look at it needs altering but ultimately people are extremely stuck to what they recognize
with best um modification is a challenging thing all of us do not like change um so I believe it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having maintaining multiple savings account but there's a big quantity of intricacy goes with establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big but I believe the honest answer is modification um individuals have not been able to change or have not had always the knowledge to truly make that change into alternate Solutions other than opening a checking 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 change however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep track of and this approach does present a number of obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I simply did you switched our Enterprise 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 staff members 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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