Find out more about Papaya Global 40M Series Partners 45M ... We now have the ability to manage 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 specifically devoted to managing payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Portal supplies workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to international workers no matter the variety of employees in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total employment expenses dispersed per location, total employment costs per cycle and far more.
Globally, I have actually demonstrated management and strategic expertise in assisting massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for supervising payroll strategies, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've kind of had a range of different functions on the company side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather 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 really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's extremely very bleak and I wish I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise review a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more common and handling them becomes more and more complicated Worldwide organizations are wanting to discover Solutions and new methods to simplify procedures particularly from a payroll and cross-border payment standpoint numerous companies maintain different bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve separate bank accounts often in different nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business improve the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for services running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and discover how simplifying worldwide payroll payments can change them from a troublesome job into a tactical property.
Handling payroll internationally is a complicated job due to numerous policies, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of combination, resulting in disparities and inadequacies. Regardless of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force 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 a photo they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of international businesses have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly interacted hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is delivered to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent question I always throw this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some babies 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 kind of move on with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely important that payroll and finance groups work closer together than ever um I'm always amazed when people state I've split 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 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 procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of essential to contribute to sort of the level of complexity there's more and more benefits being organ or being provided by businesses across the world so once again you're simply wanting to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real obstacles or genuine challenging type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from an expense viewpoint from an impact viewpoint on workers it is definitely vital that it's done properly and on time so what we suggest 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 destructive result on individuals's well-being and numerous other elements if people aren't paid uh I've always been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only discover when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. For that reason, it is necessary to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a terrific preliminary action towards offering a detailed payroll solution for employees worldwide. Standardization, global processes, and lowering the number of tools, platforms, and checking account essential for worldwide payroll are key consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know how how crucial a role 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 likewise so picture sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean up 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 try to check out them and actually see what was going on and sort of shot to return to everybody so proceeding appearance why do business select to primary different savings account there are companies out there doing precisely this for particular nations and I have actually worked in a service or many businesses doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we do not need to and any person 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 amount that we are I think many factors one is it's the standard I believe individuals have got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing but ultimately individuals are extremely stuck to what they're familiar
with right um change is a challenging thing we all don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having keeping numerous savings account however there's a substantial quantity of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big however I believe the honest response is modification um people have not been able to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a checking 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 change however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or two there is a lot to keep an eye on and this technique does pose numerous challenges um so Johnny could you inform us about those challenges yeah obviously 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 Worldwide staff members you deserve 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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