Find out more about Papaya Global Nasdaq ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and reputable approach of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app simplifies my payroll process, conserving me a substantial amount of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Worker Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to worldwide staff members no matter the variety of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits suppliers in every country, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work expenses distributed per place, overall employment costs per cycle and far more.
Worldwide, I have actually shown leadership and tactical know-how in directing massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for many prominent business worldwide we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon great night depending on where you remain in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to enhance working capital, and find how improving international payroll payments can change them from a burdensome task into a tactical possession.
Handling payroll globally is an overwhelming task due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and services adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and a lack of combination, causing disparities and inadequacies. In spite of living in a period of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business invests in global payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of global companies have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business 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 doesn't require to be included ideal and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely vital but everywhere you look with payroll payment they are like 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 in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to type of progress with that it also too 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 important that payroll and financing groups work more detailed together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by services across the world so again you're simply looking to include a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or real challenging sort of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any company has from an expense viewpoint from an effect viewpoint on staff members it is absolutely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on people's well-being and numerous other elements if individuals aren't paid uh I have actually always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's perceived externally as well. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other vital matters are done properly. Utilizing the first International Payments first payroll payment solution is a terrific preliminary step towards providing a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account necessary for global payroll are essential consider accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyway we know how how crucial a role 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 also so picture sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of shot to get back to everyone so carrying on appearance why do business choose to main different savings account there are businesses out there doing precisely this for particular countries and I've operated in a company or lots of companies doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not creating additional work for anybody where we do not have to and anyone 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 numerous reasons one is it's the standard I think individuals have got so used to we require a new checking 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 think it's simply been the requirement and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires looking at it needs changing however eventually people are extremely stuck to what they're familiar
with best um change is a hard thing all of us do not like change um so I think it's simply kind 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 undoubtedly the benefits of having preserving numerous checking account but there's a substantial quantity of complexity goes with establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is huge but I believe the honest response is modification um individuals have not had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to keep track of and this approach does posture several difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this improved capability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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