Find out more about Papaya Global Change Employer ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and reputable approach of paying to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Staff member Portal provides workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to worldwide employees no matter the number of staff members in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local advantages companies in every country, develop local accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses distributed per area, total work costs per cycle and far more.
Globally, I have demonstrated leadership and strategic proficiency in directing massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different roles on the company side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join all of us 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 just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly 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 drizzling here it's extremely extremely gloomy and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset 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 precise, effective, and prompt payroll payments is a complex obstacle for services running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to optimize working capital, and find how improving global payroll payments can transform them from a challenging job into a strategic property.
Managing payroll globally is an overwhelming job due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of staff members and companies adds to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual processes, data silos, and an absence of integration, leading to disparities and inadequacies. Despite living in an age of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and options to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on international payroll the less of a photo they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of international businesses have actually expressed that they do not 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 poor HCM data information entry errors inadequately communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is delivered to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the required several procedures 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 challenges service face when they're paying to workers or otherwise that's a great question I constantly 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 nation there's payment amount of time there's payment abilities 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 ultimately developing a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to kind of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 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 reside in and wellness being increasingly more essential to contribute to type of the level of complexity there's a growing number of advantages being organ or being provided by organizations across the world so once again you're simply seeking to add more and 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 sure however have you got any experience in kind of real obstacles or genuine tough sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that does not always need 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 simply make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from an expense perspective from an impact point of view on employees it is definitely crucial that it's done correctly 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 detrimental impact on individuals's wellness and numerous other factors if people aren't paid uh I've always been astonished coming into this Market kind of the last five to 10 years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only discover when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally as well. Therefore, it is necessary to ensure that tasks like Wi-Fi Global and other important matters are done properly. Using the first Worldwide Payments first payroll payment service is an excellent preliminary step towards supplying a comprehensive payroll solution for workers worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and savings account needed for international payroll are key consider attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we understand how how important 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 easy as possible for everyone that's involved in those procedures and likewise so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and sort of shot to return to everyone so carrying on look why do companies pick to main separate checking account there are companies out there doing precisely this for particular countries and I have actually worked in a company or numerous businesses doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with right um modification is a difficult thing we all don't like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving multiple bank accounts but there's a big quantity of intricacy chooses establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is huge but I think the honest response is modification um people haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does position a number of obstacles um so Johnny could you tell us about those difficulties yeah obviously 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 workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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