Find out more about Papaya Global Funding ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and trustworthy technique of paying to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Employee Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to worldwide workers no matter the variety of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every nation, develop regional accounts and have a minimum number of workers.
The HR capabilities supplied by Global HR encompass numerous functions such as keeping track of trip time, guaranteeing compliance, facilitating the procedure of inviting new workers and bidding goodbye to leaving ones, using a protected online platform for saving workers' files, and providing assistance for work permit treatments in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work expenses distributed per location, overall work costs per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business managing and building external relationships supporting Business customers and solutions along with functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential 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 present himself. Good day to all, despite your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I've type of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join we all 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 currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 really very bleak and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business keep separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most importantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the standard payroll design there's frequently an overwhelming variety of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or really extremely standard there's no genuine consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a business invests in international payroll the less of a photo they see an absence of presence also 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 companies 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 mistakes are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be consisted of 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 abilities 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 intricacy anywhere you look ideal ultimately developing a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it also 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 definitely necessary that payroll and financing groups work more detailed together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is becoming increasingly complex. Businesses are continuously presenting new benefits and payment options, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced era, there's no justification for keeping troublesome treatments. Payroll, the company's biggest expense, should be processed correctly and on time. Even minor hold-ups can adversely impact employees' wellness and have significant effects. For that reason, it's important to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is an excellent initial step um supplying an end-to-end payroll solution for your staff members globally once again I think is another huge um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of companies and decreasing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 easy as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and kind of shot to return to everyone so carrying on appearance why do companies choose to primary separate bank accounts there are services out there doing exactly this for particular nations and I have actually worked in a business or numerous businesses doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I think individuals have actually got so used to we need a new bank account we open an entity and appropriately 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 simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that needs looking at it needs altering but ultimately individuals are extremely stuck with what they recognize
with ideal um change is a tough thing all of us don't like modification um so I believe it's simply 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 obviously the benefits of having keeping numerous bank accounts however there's a big quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is huge but I think the honest response is change um individuals haven't been able to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep an eye on and this method does position numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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