Find out more about Papaya Global Clear Open Company List ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and reliable technique of paying to our 10,000 employees worldwide.}
The innovative international payroll management app streamlines my payroll process, conserving me a considerable amount of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global employees no matter the variety of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every country, produce local accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment costs dispersed per location, overall employment expenses per cycle and far more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across the business handling and building external relationships supporting Business clients and services as well as serving as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of different functions on the company side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains 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 really really uninspiring and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different bank accounts 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 go over why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they add more intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll design there's frequently a frustrating variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or really very fundamental there's no genuine consistency structure we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind each time I I believe
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 honestly the more a service spends on global payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors badly interacted hires and terminations as well as lack management and system setups and then when you round everything off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the needed 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 obstacles service face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to sort of progress with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work closer together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to sort of the level of complexity there's increasingly more advantages being organ or being offered by organizations throughout the world so once again you're simply wanting to include 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 but have you got any experience in kind of real difficulties or genuine tough type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand 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 need to produce additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they do not 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 why 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 service has from an expense point of view from an impact perspective on employees it is absolutely crucial 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 most significant detrimental result on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been surprised entering into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone 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 staff members or not um but ultimately payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe 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 stuff is absolutely important that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is an excellent primary step um supplying an end-to-end payroll service for your workers worldwide again I believe is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Global 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 have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not think any of us are really doing that for for the thanks
anyway we know how how important 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 simple as possible for everybody that's associated with those processes and likewise so think of sorry I'm just I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions envision getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of try to return to everybody so proceeding appearance why do business select to main separate bank accounts there are businesses out there doing precisely this for specific countries and I've worked in an organization or numerous companies doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we do not need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe individuals have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it needs altering however ultimately people are really stuck with what they're familiar
with best um change is a challenging thing we all don't like change um so I think it's simply kind 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 benefits of having preserving several savings account however there's a big quantity of intricacy opts for setting up a checking account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial however I believe the truthful answer is change um individuals haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century or so there is a lot to monitor and this technique does present several obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I just 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 feels like our CFO has actually gotten another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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