Find out more about Papaya Global Hr 40M Scale Venture ... 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 actually obtained a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Portal provides workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to worldwide employees no matter the variety of employees in the business. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every nation, produce regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment costs distributed per place, total employment expenses per cycle and far more.
Internationally, I have shown leadership and tactical competence in guiding massive populations of over 100,000 workers across 170 nations. Currently, I am responsible for managing payroll techniques, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter 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 company. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually kind of had a range of various functions on the company side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really dreary and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise go over a wrap-up and that should leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and handling them becomes a growing number of intricate Worldwide companies are looking to find Solutions and new methods to improve procedures particularly from a payroll and cross-border payment viewpoint many organizations maintain separate checking account just for payroll while some have several accounts in various countries does it make sense for companies to keep separate bank accounts in some cases in various nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies streamline the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a burdensome task into a tactical property.
Handling payroll worldwide is a difficult task due to numerous regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and businesses adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and an absence of integration, leading to disparities and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of international companies have revealed that they do not have the level of standardization they require in their processes or want 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 absence management and system configurations and then when you round all of it off and the data is delivered to the incorrect location the average cost of a worldwide 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 needed multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a great concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 client's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 allowing us to type of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm always amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the settlement landscape is ending up being progressively detailed. Businesses are continuously presenting new benefits and payment choices, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my opinion, this does not have to hold true. In today's highly advanced period, there's no justification for keeping cumbersome treatments. Payroll, the company's biggest expenditure, need to be processed properly and on time. Even slight delays can adversely impact staff members' wellness and have significant effects. For that reason, it's crucial to prioritize precise and prompt payments.
The payroll team may not have actually been thanked for correctly 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 an important cycle, and people just observe when things fail. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally as well. For that reason, it is essential to make sure that jobs like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments very first payroll payment option is a great initial step towards supplying a thorough payroll service for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyway we understand how how important a role it is and that'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 everybody that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task 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 attempt to check out them and actually see what was going on and sort of try to get back to everyone so carrying on appearance why do business select to primary different savings account there are services out there doing precisely this for particular countries and I have actually operated in a service or many organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I think people have got so used to we require a new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that requires looking at it requires altering however ultimately individuals are extremely stuck with what they recognize
with right um modification is a tough thing we all don't like change um so I believe it's simply 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 advantages of having preserving several savings account but there's a huge amount of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is big but I believe the honest answer is change um people haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe 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 constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century approximately there is a lot to keep an eye on and this technique does position a number of challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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