Find out more about Papaya Global Caribbean Netherlands ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
The Employee Portal provides workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to global workers no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses dispersed per location, total work expenses per cycle and much more.
Globally, I have actually shown leadership and tactical knowledge in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to kind 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 provider side and also on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually 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 really very dreary and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various 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 offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex obstacle for services operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a difficult task into a strategic property.
Managing payroll internationally is a difficult job due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, leading to inconsistencies and inefficiencies. Regardless of living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and solutions to simplify and enhance worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a service invests in global payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of international organizations have actually revealed that they do not 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 mistakes improperly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the data is delivered to the wrong place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they depend on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties 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 doesn't require to be included right and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 complexity wherever you look right eventually building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 essential and technology is allowing us to type of move on with that it also also to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm always surprised 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 work in the payroll profession would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to add to kind of the level of complexity there's a growing number of advantages being organ or being offered by businesses across the world so once again you're just wanting to add more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would definitely state that the bigger a service 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 teams feeding details into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost perspective from an impact point of view on staff members it is definitely important 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 greatest destructive result on people's wellness and lots of other factors if people aren't paid uh I've constantly been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments first payroll payment option is a fantastic first step um providing an end-to-end payroll service for your workers worldwide again I think is another huge um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of services and minimizing the variety of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know how how important 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 everyone that's involved in those processes and also so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job 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 check out them and really see what was going on and type of try to return to everybody so moving on look why do business choose to primary separate checking account there are businesses out there doing exactly this for specific nations and I have actually operated in a service or numerous companies doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not producing extra work for anyone where we do not have to and anyone that's dealing with 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 lots of reasons one is it's the standard I believe people have got so utilized to we require a new bank 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 standard the people have actually embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a process that needs taking a look at it requires altering but eventually individuals are extremely stuck with what they're familiar
with right um modification is a challenging thing we all do not like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining numerous checking account but there's a big quantity of complexity chooses setting up a savings account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private individuals so the complexity is big however I believe the honest response is modification um individuals have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or two there is a lot to track and this approach does posture a number of difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just did you changed 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 International workers you are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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