Find out more about Papaya Global Company Car Tax Codes ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and dependable approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, saving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Worker Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to international workers despite the number of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional benefits companies in every nation, create local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs dispersed per place, overall work expenses per cycle and much more.
Internationally, I have demonstrated management and tactical expertise in assisting massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll methods, as mentioned by Mark. My function involves managing and developing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. 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 decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and also on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to sort 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 sunlight is it it's not no it's it's raining here it's extremely extremely uninspiring and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a difficult task into a strategic asset.
Handling payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, data security concerns, and banking rules. The large variety of staff members and organizations contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inadequacies. In spite of residing in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on global payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international businesses have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors poorly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they count on the needed multiple processes 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 obstacles company face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't need to be consisted of ideal 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 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some infants 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 recognition that payroll payments are definitely basic and technology is enabling us to sort of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to contribute to type of the level of complexity there's increasingly more advantages being organ or being used by services throughout the world so once again you're simply aiming to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period 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 agreed and rightly as you said payroll is the single most significant liability that any company has from an expense point of view from an impact point of view on workers it is absolutely vital 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 greatest damaging effect on people's wellness and many other elements if people aren't paid uh I have actually always been amazed coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind 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 staff members or not um but eventually payroll is such an essential cycle we all hear 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment service is a terrific initial step um providing an end-to-end payroll option for your workers internationally once again I think is another substantial um procedure once again lining up and ensuring you have standardization International processes all of those things are definitely crucial to success success of organizations and decreasing the number of tools platforms and checking account they need for their Worldwide 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 had a hundred thousand of them within a payroll cycle do not expect 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 quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyhow we know how how crucial 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 easy as possible for everybody that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean up 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 require days of the week to attempt to browse them and actually see what was going on and sort of shot to return to everyone so moving on appearance why do business pick to main different checking account there are organizations out there doing precisely this for specific countries and I've worked in an organization or many organizations doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not have to and anybody that's dealing with that procedure 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 lots of factors one is it's the requirement I believe individuals have got so used to we need a brand-new checking account we open an entity and rightly 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 embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but eventually individuals are really stuck to what they're familiar
with right um change is a hard thing we all don't like modification um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving multiple savings account however there's a huge amount of intricacy goes with setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is substantial however I believe the sincere response is modification um people haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to track and this technique does present several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched 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 workers you are worthy of a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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