Find out more about Papaya Global New York Office ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reputable method of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app improves my payroll process, conserving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Employee Website provides staff members with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to international staff members no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional benefits companies in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses dispersed per area, overall employment expenses per cycle and much more.
Worldwide, I have demonstrated leadership and tactical know-how in guiding massive populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for a lot of prominent business worldwide we provide payroll payments and workforce management to all worker enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent evening depending upon where you are in the world it's charming to satisfy you and thank you very much 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 market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the company side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it remains 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 dreary and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep different
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll expenses to enhance working capital, and discover how improving worldwide payroll payments can transform them from a burdensome job into a tactical asset.
Handling payroll internationally is a challenging job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer number of workers and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to inconsistencies and ineffectiveness. Regardless of living in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to provide insights and solutions to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors inadequately communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they rely on the essential numerous 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 difficulties service face when they're making payments to workers or otherwise that's a good question I always toss this back and say what is it what does not require to be consisted of right and what does
it require to be thought of there's varying Bank details 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 client's own in-country account so there's intricacy wherever you look best ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 fundamental and innovation is enabling us to kind of move forward with that it also too to add to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely essential that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they split 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 information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to contribute to kind of the level of complexity there's increasingly more advantages being organ or being used by businesses across the world so once again you're just seeking to include a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or genuine tough kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would absolutely state that the bigger 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 groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any service has from an expense point of view from an impact point of view on employees it is absolutely crucial that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on people's well-being and lots of other aspects if people aren't paid uh I've constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally also. Therefore, it is essential to make sure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the first Global Payments first payroll payment service is a great preliminary action towards offering a comprehensive payroll solution for employees worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and checking account needed for international payroll are key factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how essential 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 procedures and also so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and type of try to return to everyone so proceeding look why do companies pick to primary different bank accounts there are organizations out there doing precisely this for particular countries and I have actually worked in a business or many organizations doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anyone where we do not need to and any person that's managing 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 think lots of factors one is it's the standard I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need 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 individuals have actually adopted 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 ways um to to type of do it so I believe there's a variety I believe this is a process that requires looking at it needs changing but ultimately people are very stuck to what they recognize
with right um modification is a challenging thing we all do not like modification um so I think it's simply kind 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 comprehend clearly the advantages of having preserving several checking account however there's a substantial quantity of complexity chooses setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the intricacy is substantial but I believe the sincere response is change um people haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I just recently made a change 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 gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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