Find out more about Papaya Global Market Cap ... We now have the ability to handle 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 particularly dedicated to handling payments. This offers us with a safe and secure and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Staff member Website offers employees with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to international staff members no matter the variety of workers in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages suppliers in every nation, produce regional accounts and have a minimum number of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment costs distributed per location, overall work costs per cycle and a lot more.
Internationally, I have actually shown leadership and strategic knowledge in guiding large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll techniques, as pointed out by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for most prominent companies on the planet we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending on where you are in the world it's charming to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually type of had a variety of various functions on the supplier side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather 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 everybody comes from and I truly 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 very bleak and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially beneficial for global companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and discover how improving international payroll payments can change them from a challenging task into a strategic possession.
Managing payroll globally is a complicated task due to different guidelines, compliance requirements, information security issues, and banking rules. The sheer variety of staff members and services adds to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and a lack of combination, causing inconsistencies and ineffectiveness. Despite living in an era 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 aims to provide insights and services to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide businesses have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a great question I always toss this back and say what is it what does not need to be included ideal and what does
it require to be considered 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you 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 definitely essential and innovation is allowing us to kind of move forward with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely necessary that payroll and financing teams work closer together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on wellness and the payment landscape is becoming increasingly elaborate. Organizations are continually presenting brand-new advantages and payment options, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not have to hold true. In today's technically innovative era, there's no justification for maintaining troublesome treatments. Payroll, the company's greatest expenditure, must be processed correctly and on time. Even slight hold-ups can adversely impact staff members' well-being and have significant consequences. For that reason, it's important to focus on precise and timely payments.
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things fail. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally too. For that reason, it is vital to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Utilizing the very first Global Payments very first payroll payment service is a terrific initial action towards offering an extensive payroll option for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts needed for worldwide payroll are key consider accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway we know how how important 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 everybody that's associated with those procedures and also so imagine sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and really see what was going on and type of shot to return to everybody so moving on look why do business choose to main separate checking account there are services out there doing precisely this for particular countries and I've operated in an organization or many businesses doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not developing extra work for anybody 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 amount that we are I believe numerous reasons one is it's the requirement I believe individuals have actually got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing however eventually individuals are really stuck to what they recognize
with best um change is a challenging thing we all don't like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having maintaining multiple checking account however there's a big amount of complexity opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is huge however I think the sincere response is change um individuals have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century or so there is a lot to keep track of and this method does present a number of obstacles um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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