Find out more about Papaya Global Api ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app simplifies my payroll process, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Website offers workers with the ability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages bundles to international workers no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits companies in every country, develop local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment expenses distributed per place, total work costs per cycle and a lot more.
Globally, I have shown leadership and strategic proficiency in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to satisfy 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 concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've type of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so 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 fascinating and I can see it going on already simply 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 remains 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 very very bleak and I wish I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more typical and managing them ends up being increasingly more complicated Global companies are looking to find Solutions and new methods to streamline processes particularly from a payroll and cross-border payment standpoint lots of organizations keep separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for companies to maintain separate checking account sometimes in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies enhance the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and discover how enhancing global payroll payments can change them from a difficult job into a strategic possession.
Managing payroll globally is a difficult job due to different regulations, compliance requirements, data security issues, and banking guidelines. The large variety of workers and organizations contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of integration, causing inconsistencies and inadequacies. Despite living in an age of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to provide insights and services to streamline and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a service spends on worldwide payroll the less of an image they see an absence of exposure also encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the necessary several processes 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 staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't need to be included right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 any place you look right eventually developing a knowledge base is absolutely important however all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to type of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely essential that payroll and financing groups work closer together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 often 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 people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the payment landscape is becoming increasingly complex. Organizations are constantly introducing brand-new advantages and payment choices, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to be the case. In today's highly sophisticated period, there's no justification for preserving cumbersome procedures. Payroll, the company's most significant expense, need to be processed correctly and on time. Even slight hold-ups can negatively impact staff members' wellness and have significant consequences. Therefore, it's vital to prioritize precise and prompt payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just observe when things fail. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. Therefore, it is necessary to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the first Global Payments first payroll payment solution is an excellent initial step towards supplying a thorough payroll solution for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and checking account necessary for global payroll are essential factors in achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyway we understand 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 involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of shot to return to everybody so proceeding look why do companies pick to primary different bank accounts there are companies out there doing exactly this for specific nations and I've worked in a service or numerous organizations doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not need to and anybody that's managing that procedure 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 believe numerous reasons one is it's the standard I think people have actually got so used to we require a brand-new checking account we open an entity and rightly 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 individuals have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I think this is a process that needs taking a look at it needs altering but eventually people are very stuck to what they recognize
with right um modification is a hard thing all of us do not like change um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having keeping numerous checking account however there's a huge amount of intricacy goes with establishing a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is substantial however I think the truthful response is modification um individuals have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to keep track of and this technique does position a number of challenges um so Johnny could you tell us about those obstacles yeah of course 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 manage our payroll and payment jobs 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 workers worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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