Find out more about And Papaya Global Azimo ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and reputable method of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Portal provides staff members with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to global workers despite the number of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, develop regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment costs distributed per area, total work costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and building external relationships supporting Business clients and options along with acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the provider side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually 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 raining here it's very extremely uninspiring and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll costs to enhance working capital, and find how streamlining international payroll payments can change them from a challenging task into a tactical property.
Managing payroll worldwide is a daunting task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of combination, resulting in disparities and inadequacies. Regardless of residing in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to offer insights and solutions to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on global payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide companies have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors badly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the information is shipped to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what doesn't need to be consisted of right and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities so can you pay it from International or do you have 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 ideal ultimately building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 definitely fundamental and innovation is permitting 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 Savings account Details varying banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the payment landscape is becoming increasingly intricate. Services are constantly presenting new benefits and payment options, which adds to the general complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative period, there's no justification for preserving troublesome treatments. Payroll, the business's most significant cost, need to be processed correctly and on time. Even slight delays can negatively impact employees' well-being and have significant effects. Therefore, it's critical to prioritize precise and timely payments.
payroll group get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your workers globally once again I think is another big um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of services and minimizing the variety of tools platforms and bank accounts 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've 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 grievances where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh absolutely 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 look through them and in fact see what was going on and sort of shot to get back to everyone so moving on appearance why do companies pick to main different checking account there are businesses out there doing exactly this for particular countries and I have actually worked in a service or numerous services doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not developing extra work for anybody where we don't have to and any person that's dealing with 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 think lots of reasons one is it's the requirement I think people have actually got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have 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 lots of other methods um to to type of do it so I think there's a range I think this is a process that needs taking a look at it requires altering but eventually people are very stuck to what they recognize
with best um change is a hard thing we all do not like change um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having preserving multiple bank accounts but there's a substantial amount of intricacy goes with establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is huge however I believe the sincere response is change um people haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we have actually 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 identified to be the next Century or so there is a lot to track and this technique does pose numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business 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 boosted capability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
Papaya Global Bhutan