Find out more about Papaya Global 40M Series 45M ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, saving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Employee Website provides workers with the capability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to worldwide staff members regardless of the variety of employees in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages providers in every country, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work expenses distributed per place, total work expenses per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise clients and solutions along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of different roles on the company side and also on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical possession 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.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they add additional complexity the international Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll model there's often an overwhelming variety of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or really very standard there's no genuine consistency framework we're living in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what does not need to be included right and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe 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 finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance groups work more detailed together than ever um I'm always surprised 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 estimation I would say no so why do we as a market accept that why our payroll and payments so typically 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is ending up being increasingly complex. Services are constantly presenting new benefits and payment options, which adds to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my opinion, this does not need to hold true. In today's highly sophisticated period, there's no reason for preserving cumbersome treatments. Payroll, the company's most significant cost, need to be processed correctly and on time. Even minor hold-ups can adversely affect employees' wellness and have significant repercussions. Therefore, it's vital to prioritize accurate and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. Therefore, it is essential to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the very first Global Payments very first payroll payment option is a great preliminary action towards offering a detailed payroll option for staff members worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and savings account required for worldwide payroll are key consider achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyway we know how how important a role 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 also so envision sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean all those up for sure oh absolutely 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 browse them and really see what was going on and type of try to return to everybody so proceeding appearance why do business choose to main separate checking account there are businesses out there doing precisely this for particular countries and I've operated in a business or many organizations doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think individuals have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have adopted 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 ways um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but eventually individuals are really stuck with what they recognize
with ideal um change is a challenging thing we all don't like modification um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving several checking account but there's a big amount of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is substantial however I believe the honest response is modification um people have not had the ability to alter or haven't had always 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 believe it is understanding you understand and there is an element of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or so there is a lot to track and this approach does posture a number of difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this improved ability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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