Find out more about Papaya Global Company Locationisrael ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Worker Website provides staff members with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to global employees no matter the variety of employees in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source local benefits service providers in every country, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall work costs dispersed per location, total work expenses per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise clients and options in addition to functioning as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, 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 options for the past 7 years. The complexities and difficulties 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 kind of had a range of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating 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 everyone comes from and I truly 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 raining here it's extremely really dreary and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most significantly regulations compliance data security and banking guidelines then there are the large numbers they add additional intricacy the international Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll design there's often a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or very really fundamental there's no real consistency framework we're residing in an age 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 often with pen and paper and that simply blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on international payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international businesses have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is shipped to the wrong location the typical cost of a global 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 world payroll and payments do not run efficiently if they depend 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 difficulties company face when they're making payments to workers or otherwise that's a great concern I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be considered there's varying 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 have to pay from the consumer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is definitely important but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 technology is allowing us to type of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to add to kind of the level of intricacy there's more and more advantages being organ or being used by organizations across the world so again you're simply looking to include a growing number of payments to this already complicated landscape so if you type 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 genuine difficulties or genuine difficult type of pay uses to play to pay people I think yeah I mean over the last well yeah a number of years I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that does not always 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 efficient and they don't make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and rightly as you said payroll is the single biggest liability that any company has from a cost perspective from an effect perspective on workers it is absolutely vital that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive result on people's wellness and numerous other aspects if individuals aren't paid uh I've always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic 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 viewed externally also. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the very first Worldwide Payments first payroll payment solution is a great preliminary action towards providing a comprehensive payroll solution for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and savings account required for global payroll are essential consider accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we know how how important a function 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 procedures and also so think of sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying 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 check out them and in fact see what was going on and kind of try to get back to everybody so proceeding appearance why do companies choose to main different savings account there are services out there doing exactly this for specific nations and I've worked in a company or numerous services doing precisely that I can say it doesn't constantly feel effective and it does produce more work I know we're not deliberately doing that we're not producing 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 quantity that we are I think numerous reasons one is it's the standard I believe people have actually got so utilized to we need a brand-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 believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires changing but eventually individuals are very stuck to what they're familiar
with ideal um modification is a hard thing we all don't like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having keeping multiple savings account but there's a big amount of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is big however I believe the honest response is change um individuals haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century or so there is a lot to keep track of and this technique does pose a number of challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range 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 tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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