Find out more about Papaya Global Curaçao ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
The advanced global payroll management app improves my payroll process, conserving me a significant quantity of time each month. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to global employees despite the variety of employees in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall employment expenses distributed per place, overall work expenses per cycle and far more.
Globally, I have demonstrated management and tactical competence in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function includes managing and establishing 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 supplier.
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's an enjoyment to meet you and thank you for your important 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 market, I have actually focused on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different roles on the supplier side and also on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everybody 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 sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really gloomy and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll likewise go over a wrap-up and that should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more typical and managing them ends up being a growing number of intricate Global companies are looking to discover Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment viewpoint many organizations maintain different bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to keep different savings account in some cases in different nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies simplify the episode complex procedures of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and discover how improving international payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll internationally is a challenging task due to numerous regulations, compliance requirements, data security concerns, and banking rules. The large number of employees and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of integration, resulting in disparities and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to provide insights and services to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and inability to properly track these payments can result in compliance mishaps 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 require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes poorly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service 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 need to be included right and what does
it require to be thought about there's differing 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 customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 fundamental and technology is permitting us to kind of move forward with that it likewise too to add to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 typically 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 people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of intricacy there's more and more benefits being organ or being provided by organizations across the world so once again you're simply seeking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in a period 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 concurred and rightly as you stated payroll is the single most significant liability that any company has from a cost perspective from an impact point of view on staff members 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 need to be done right it has the greatest damaging effect on individuals's wellness and many other factors if individuals aren't paid uh I've constantly been astonished entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group might not have actually 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 workers or not. Payroll is a crucial cycle, and people only observe when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a great initial step towards providing a detailed payroll solution for employees worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts required for international payroll are crucial consider attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand how how essential 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 likewise so imagine sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and kind of shot to get back to everybody so proceeding appearance why do business choose to main separate checking account there are businesses out there doing precisely this for specific nations and I've worked in a business or lots of companies doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for any person where we do not need to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe 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 believe people have actually got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions however 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 gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a process that requires looking at it needs changing however ultimately individuals are really stuck to what they recognize
with best um modification is a challenging thing we all do not like modification um so I believe it's just kind of moving far 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 multiple bank accounts however there's a huge quantity of complexity goes with setting up a bank account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big but I think the sincere response is change um individuals have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but 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 understand what could almost be identified to be the next Century approximately there is a lot to keep track of and this method does position numerous obstacles um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I simply did you changed our Business 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 better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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