Find out more about Papaya Global Niue ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and trusted method of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app improves my payroll process, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to global workers despite the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local benefits providers in every country, produce regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total work expenses dispersed per location, total employment expenses per cycle and a lot more.
Globally, I have shown management and tactical expertise in assisting large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My function involves managing and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for most prominent business worldwide we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending upon where you remain in the world it's beautiful to satisfy you and thank you quite 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 specifically working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of different roles on the company side and likewise on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it is 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 really very uninspiring and I wish I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll also go over a recap and that must leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them ends up being more and more complex Global organizations are looking to find Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment perspective numerous companies keep different bank account just for payroll while some have multiple accounts in different nations does it make good sense for companies to keep separate checking account in some cases in different countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business enhance the episode complex procedures of
Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for businesses running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to optimize working capital, and discover how improving worldwide payroll payments can change them from a difficult task into a tactical asset.
Handling payroll internationally is a complicated task due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large number of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual procedures, information silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of residing in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to provide insights and solutions to simplify and optimize 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 state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on global payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide companies have expressed 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 poor HCM information data entry errors improperly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the essential multiple procedures 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 difficulties organization face when they're paying to workers or otherwise that's an excellent question I always throw this back and state what is it what does not need to be consisted of 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 nation there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in 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 technology is enabling us to type of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely important that payroll and financing groups work closer together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by services throughout the world so again you're just aiming to include increasingly more payments to this already complex 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 genuine challenges or genuine tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding details into the next function as it were that's really managing the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they just make them more timely 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 understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and rightly as you said payroll is the single most significant liability that any service has from a cost perspective from an impact viewpoint on staff members 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 destructive impact on people's wellness and numerous other aspects if people aren't paid uh I've constantly been amazed entering this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. Therefore, it is necessary to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first International Payments very first payroll payment solution is a terrific preliminary action towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and checking account essential for international payroll are key consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as prepared. Eventually, we do not do it for the thankfulness.
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 everyone that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na say envision 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of shot to return to everyone so proceeding appearance why do business select to main different savings account there are businesses out there doing precisely this for specific countries and I've worked in a company or numerous services doing precisely that I can say it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for anyone where we do not have to and anybody 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 quantity that we are I think many factors one is it's the requirement I believe individuals have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a process that requires looking at it needs changing but eventually people are very stuck with what they're familiar
with right um change is a challenging thing we all don't like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving numerous checking account however there's a big quantity of complexity goes with establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is huge but I think the honest response is change um people haven't had the ability to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to keep an eye on and this technique does posture several obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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