Find out more about Papaya Global Compatible Payslips ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trustworthy technique of paying to our 10,000 staff members worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Staff member Website provides staff members with the ability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits plans to worldwide workers no matter the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local advantages providers in every country, produce regional accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR include various functions such as keeping an eye on holiday time, making sure compliance, facilitating the procedure of welcoming new staff members and bidding goodbye to leaving ones, offering a safe online platform for keeping workers' documents, and offering support for work permit procedures in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work costs distributed per area, overall work expenses per cycle and much more.
Worldwide, I have actually shown leadership and strategic knowledge in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My function involves managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually kind of had a range of different roles on the supplier side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing 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 truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really uninspiring and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for companies operating worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a difficult job into a tactical possession.
Handling payroll internationally is a challenging task due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of workers and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in disparities and inefficiencies. Despite residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to provide insights and services to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on worldwide payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance accidents 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 need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as lack management and system setups and then when you round it all off and the data is delivered to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 wherever you look best eventually building a knowledge base is definitely 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing groups work better together than ever um I'm always impressed when people 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 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 ultimately 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 also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to add to type of the level of complexity there's a growing number of advantages being organ or being provided by businesses across the world so again you're simply aiming to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine challenges or real tough sort of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding details into the next function as it were that's actually handling the payment side of things but you know 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 in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it needs 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 perspective on staff members it is definitely critical that it's done correctly 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 destructive result on people's wellness and lots of other elements if people aren't paid uh I've constantly been surprised entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just observe when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Using the first International Payments very first payroll payment service is a great preliminary step towards supplying a thorough payroll option for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and savings account essential for international payroll are essential factors in accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow we understand how how crucial a function 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 everybody that's associated with those procedures and also so envision sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean up 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 require days of the week to attempt to browse them and actually see what was going on and kind of try to return to everyone so carrying on look why do business choose to primary different savings account there are businesses out there doing exactly this for specific countries and I've worked in a business or numerous services doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with 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 standard I believe individuals have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a process that requires looking at it requires altering but ultimately individuals are extremely stuck with what they recognize
with right um change is a tough thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having maintaining numerous bank accounts however there's a huge quantity of intricacy goes with setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is huge but I think the sincere answer is modification um individuals have not been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or so there is a lot to monitor and this approach does present a number of difficulties um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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