Find out more about Papaya Global Hr Software For Budget Business Efficiency ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to international workers no matter the number of employees in the business. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits providers in every country, create local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment costs distributed per area, overall employment costs per cycle and much more.
Worldwide, I have shown leadership and strategic expertise in assisting large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to employees 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, regardless of your area. It's a satisfaction 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 decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've type of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody 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 rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes 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 drizzling here it's extremely really gloomy and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can change them from a challenging task into a tactical possession.
Handling payroll globally is an overwhelming job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and services contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual procedures, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. Regardless of living in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and services to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in international payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal almost half of global businesses have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be included best and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is definitely critical however all over you look with payroll payment they are like super payments no if however some infants 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market 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 individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The modern world places a high worth on wellness and the settlement landscape is becoming increasingly elaborate. Businesses are continually introducing brand-new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not need to hold true. In today's technologically innovative age, there's no justification for preserving cumbersome treatments. Payroll, the company's greatest cost, should be processed correctly and on time. Even slight hold-ups can negatively impact employees' wellness and have far-reaching consequences. For that reason, it's vital to prioritize precise and timely payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is an excellent primary step um providing an end-to-end payroll solution for your employees globally again I think is another big um process once again aligning and ensuring you have standardization Global processes all of those things are definitely crucial to success success of companies and reducing the variety of tools platforms and checking account they require for their International 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've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I don't think any of us are really doing that for for the thanks
anyway we know how how important a function 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 simple as possible for everyone that's involved in those processes and likewise so envision sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do business select to primary separate checking account there are businesses out there doing precisely this for particular countries and I've operated in a company or lots of companies doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't need to and any person that's handling 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 amount that we are I believe many reasons one is it's the requirement I think people have actually got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering but ultimately individuals are extremely stuck with what they're familiar
with best um change is a hard thing we all don't like modification um so I think it's simply kind of moving far from the standard 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 keeping multiple checking account but there's a huge amount of intricacy goes with establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is substantial however I think the honest answer is change um people haven't been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to change however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does pose numerous obstacles um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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