Find out more about Papaya Global Change Font Size ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a protected and trusted technique of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to global employees regardless of the number of workers in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local advantages companies in every country, create regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment expenses distributed per location, total employment expenses per cycle and a lot more.
Worldwide, I have demonstrated management and tactical knowledge in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for managing payroll techniques, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for most influential companies in the world we offer payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind 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 kind of like see where everybody comes from and I really 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 extremely extremely gloomy and I wish I was somewhere else 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 difficulty years of handling International payroll why business preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll likewise discuss a recap and that ought to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and handling them becomes increasingly more complicated Global organizations are seeking to discover Solutions and new ways to enhance procedures particularly from a payroll and cross-border payment standpoint many companies keep different checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain different savings account in some cases in different nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business improve the episode complex procedures of
Making sure precise, effective, and prompt payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a difficult task into a strategic asset.
Handling payroll internationally is a difficult job due to various policies, compliance requirements, information security issues, and banking rules. The large number of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and an absence of integration, leading to disparities and inadequacies. Despite residing in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to provide insights and solutions 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 just 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors poorly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they count 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 needs to be factored into the difficulties company face when they're paying to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not require to be consisted of right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 intricacy wherever you look right ultimately building a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 allowing us to type of move on with that it likewise also to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely important that payroll and finance teams work better together than ever um I'm constantly astonished when people say I have actually 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 estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to contribute to kind of the level of intricacy there's increasingly more benefits being organ or being used by companies across the world so again you're just wanting to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine difficulties or real tough sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from an expense perspective from an effect perspective on workers it is definitely 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 have to be done right it has the biggest damaging effect on people's wellness and many other factors if individuals aren't paid uh I have actually constantly been amazed entering 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 type of webinar has been told 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 an essential cycle all of us find out about it when it goes wrong 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 view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a great primary step um offering an end-to-end payroll service for your staff members globally again I believe is another big um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of businesses and decreasing the number of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're meant to be um I don't believe any of us are actually 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 involved in those processes and likewise so picture sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case 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 shot to return to everyone so proceeding look why do business choose to primary separate bank accounts there are organizations out there doing precisely this for particular nations and I've worked in a service or numerous companies doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't need to and anyone 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 amount that we are I believe many factors one is it's the standard I believe individuals have actually got so used to we require a brand-new savings 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 believe it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I think this is a procedure that needs looking at it requires altering however eventually people are very stuck with what they recognize
with ideal um modification is a tough thing we all don't like change um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping multiple bank accounts but there's a substantial amount of complexity goes with setting up a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is big however I believe the truthful response is modification um individuals haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century approximately there is a lot to keep track of and this method does present numerous difficulties um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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