Find out more about Papaya Global London Office ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and secure and trustworthy method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll process, saving me a significant amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages packages to worldwide employees despite the variety of staff members in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, develop local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment costs distributed per location, overall work costs per cycle and a lot more.
Internationally, I have actually demonstrated management and strategic proficiency in directing massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to fulfill 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 years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've sort of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everyone another number of uh well among 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 fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually 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 very very dreary and I want I was elsewhere at this moment in time all right so let's start our agenda 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 savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll also review a recap which needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and handling them becomes a growing number of complicated Global companies are wanting to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment viewpoint numerous organizations maintain separate checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to preserve different bank accounts in some cases in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies enhance the episode complex processes of
Making sure precise, effective, and prompt payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll costs to optimize working capital, and find how simplifying global payroll payments can transform them from a challenging task into a tactical asset.
Handling payroll worldwide is a daunting job due to various guidelines, compliance requirements, information security concerns, and banking rules. The sheer number of workers and businesses adds to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual processes, data silos, and an absence of integration, causing inconsistencies and inadequacies. In spite of residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to supply insights and options to simplify and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a business invests in worldwide payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of global businesses have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the information is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be included best and what does
it need to be considered there's differing 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 abilities 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling us to sort of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to contribute to kind of the level of intricacy there's more and more advantages being organ or being provided by businesses across the world so again you're just aiming to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or real challenging type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and a period that you understand that we are operating in today there is no reason that we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an effect perspective on employees it is definitely vital 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 have to be done right it has the biggest damaging result on people's well-being and numerous other aspects if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle all of us find out 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 workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment option is a great initial step um supplying an end-to-end payroll solution for your staff members globally again I believe is another big um process again aligning and ensuring you have standardization International processes all of those things are definitely key to success success of services and lowering the variety of tools platforms and checking account they need for their Global 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 do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everybody that's involved in those processes and likewise so imagine sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I mean 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 up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and sort of try to return to everyone so carrying on look why do business pick to primary separate checking account there are services out there doing exactly this for specific nations and I have actually operated in an organization or many companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anybody where we do not have to and any person that's dealing with that procedure 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 think numerous factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a procedure that needs looking at it requires altering but ultimately people are extremely stuck with what they recognize
with right um modification is a difficult thing all of us do not like modification um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving numerous bank accounts but there's a substantial quantity of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is huge however I believe the truthful response is change um individuals haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to track and this method does present a number of difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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