Find out more about Papaya Global Contact ... 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 actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and trustworthy method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Worker Website offers employees with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to international staff members despite the number of employees in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional benefits providers in every country, produce local accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall work expenses dispersed per location, overall work costs per cycle and much more.
environments across the globe I offered management and method 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 across business handling and structure external relationships supporting Business customers and options along with serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for many influential business on the planet we offer payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent night depending on where you remain in the world it's charming to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the company side and likewise on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely uninspiring and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business maintain different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and find how simplifying international payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll worldwide is a complicated job due to various policies, compliance requirements, information security issues, and banking rules. The large variety of workers and companies adds to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, causing disparities and inadequacies. Despite living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and solutions to simplify and optimize global payroll payments.
about it to give you an idea 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 business spends on global payroll the less of an image they see a lack of visibility likewise reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors improperly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the information is delivered to the incorrect location the typical expense 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 worldwide payroll and payments do not run efficiently if they depend on the required several procedures 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 obstacles business face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be consisted of best and what does
it need to be considered there's varying Bank details 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is definitely critical but everywhere you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to sort of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work better together than ever um I'm constantly surprised when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to contribute to kind of the level of complexity there's a growing number of advantages being organ or being provided by businesses throughout the world so once again you're just looking to include increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough type of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions 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 managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to produce additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from a cost point of view from an impact point of view on staff members it is absolutely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive effect on people's wellness and lots of other aspects if people aren't paid uh I have actually always been astonished entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only notice when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. Therefore, it is vital to ensure that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the very first Global Payments very first payroll payment service is a fantastic preliminary step towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts required for international payroll are key consider accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyhow 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm just I was just gon na say envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to primary separate checking account there are companies out there doing precisely this for specific nations and I have actually operated in an organization or numerous businesses doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and any person that's managing 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 quantity that we are I believe many reasons one is it's the standard I believe individuals have got so used to we need a brand-new savings account we open an entity and rightly 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 just been the requirement and the standard the people have embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires changing however ultimately people are really stuck with what they recognize
with ideal um change is a difficult thing we all don't like change um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining several bank accounts but there's a big amount of complexity chooses setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is substantial however I think the honest answer is change um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or two there is a lot to keep track of and this method does pose several difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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