Find out more about Papaya Global 40M Partners 45M ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This provides us with a protected and dependable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Staff member Website provides employees with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to international staff members regardless of the variety of workers in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every country, create local accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall work costs distributed per place, overall work costs per cycle and a lot more.
Internationally, I have shown management and tactical competence in guiding massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending upon where you remain in the world it's beautiful to fulfill 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 been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually sort of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather 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 truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely dreary and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a difficult job into a strategic possession.
Handling payroll worldwide is a daunting task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large number of employees and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual processes, data silos, and a lack of integration, resulting in inconsistencies and inadequacies. In spite of residing in a period of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to offer insights and services 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 only 11 of organizations state they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on global payroll the less of an image they see a lack of presence also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global companies have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors inadequately communicated hires and terminations along with lack management and system setups and then when you round it all off and the information is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they count on the required several 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 difficulties company face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it require to be considered there's varying Bank details 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble very payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to sort of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely important that payroll and finance teams work closer together than ever um I'm always amazed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation 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 eventually 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the compensation landscape is ending up being increasingly elaborate. Companies are constantly presenting brand-new advantages and payment alternatives, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's highly innovative era, there's no justification for preserving cumbersome treatments. Payroll, the business's most significant expense, should be processed properly and on time. Even small delays can adversely impact staff members' well-being and have far-reaching effects. Therefore, it's vital to prioritize accurate and timely payments.
payroll group 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 excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe 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 things is absolutely important that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is a terrific first step um supplying an end-to-end payroll service for your employees globally once again I think is another big um process once again lining up and ensuring you have standardization Global processes all of those things are definitely crucial to success success of organizations and decreasing the variety of tools platforms and bank accounts 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 had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 everyone that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of 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 a fascinating job trying to clean all those up for sure oh definitely I can't think of 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 type of shot to return to everyone so carrying on look why do companies select to main separate savings account there are companies out there doing exactly this for specific countries and I have actually operated in an organization or numerous companies doing exactly that I can state it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not need to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I believe people have got so utilized to we require a brand-new savings account we open an entity and rightly 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 requirement and the standard the people have embraced 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 sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs changing but eventually individuals are very stuck with what they recognize
with right um modification is a difficult thing we all do not like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving several checking account however there's a huge amount of intricacy chooses establishing a checking account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the complexity is big however I believe the sincere response is change um individuals have not had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to track and this method does pose several challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just did you changed 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 Worldwide employees you should have a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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