Find out more about Papaya Global Belize ... 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 obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and dependable technique of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to worldwide workers regardless of the number of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional advantages companies in every nation, create local accounts and have a minimum number of employees.
The HR abilities provided by Global HR incorporate various functions such as monitoring holiday time, ensuring compliance, helping with the procedure of welcoming new workers and bidding goodbye to departing ones, using a protected online platform for storing workers' documents, and supplying assistance for work permit procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work costs distributed per place, overall employment costs per cycle and far more.
Internationally, I have demonstrated leadership and tactical competence in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My role involves handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your important time. As Ian discussed, 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 challenges of this field have always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've type of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody 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 raining here it's really really gloomy and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. 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 asset 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.
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and find how enhancing international payroll payments can change them from a troublesome task into a strategic possession.
Handling payroll globally is a difficult task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and services adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, data silos, and an absence of integration, resulting in disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and solutions to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global services 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 mistakes are because of time reporting poor HCM information data entry errors improperly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be included ideal and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely crucial however all over you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 sort of progress with that it likewise as well to add to that payroll and financing need 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 better together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to add to sort of the level of complexity there's increasingly more benefits being organ or being used by organizations throughout the world so once again you're just seeking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would definitely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single most significant liability that any business has from an expense perspective from an impact viewpoint on employees it is absolutely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental effect on individuals's well-being and lots of other aspects if people aren't paid uh I've always been amazed entering this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just see 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 vital to ensure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first Worldwide Payments first payroll payment solution is a fantastic initial action towards providing a comprehensive payroll option for staff members worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and bank accounts required for global payroll are essential factors in accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow 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 simple as possible for everybody that's involved in those processes and also so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean all those up for sure oh definitely 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 look through them and actually see what was going on and sort of shot to return to everyone so moving on appearance why do companies choose to primary separate checking account there are services out there doing exactly this for specific nations and I have actually operated in a company or many services doing exactly that I can state it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the standard I think people have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute 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 believe this is a procedure that needs looking at it needs altering but ultimately people are really stuck to what they recognize
with best um modification is a hard thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining multiple savings account however there's a huge amount of complexity goes with setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is substantial however I believe the sincere answer is modification um individuals haven't had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century or so there is a lot to keep track of and this approach does pose numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Enterprise 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 Global employees you should have a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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