Find out more about Papaya Global Payments ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Portal supplies employees with the capability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global workers no matter the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source local advantages service providers in every nation, create local accounts and have a minimum number of staff members.
The HR abilities offered by Global HR incorporate different functions such as keeping an eye on vacation time, guaranteeing compliance, helping with the process of welcoming brand-new staff members and bidding farewell to departing ones, using a safe online platform for keeping employees' documents, and providing support for work permit procedures in case your staff members need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs dispersed per place, total work costs per cycle and far more.
Globally, I have demonstrated leadership and strategic expertise in directing large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for most prominent business worldwide we offer payroll payments and workforce management to all staff member types in 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 present yourself obviously thank you good morning excellent afternoon great evening depending upon where you are in the world it's beautiful to fulfill 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 have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the supplier side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 raining here it's very really bleak and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured service. 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 asset for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and find how enhancing international payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll internationally is a challenging job due to various regulations, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of residing in a period of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of international organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors poorly communicated hires and terminations as well as absence management and system setups and then when you round it all off and the data is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they rely on the required multiple processes systems and partners it is just 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 staff members or otherwise that's a great concern I always throw this back and say what is it what doesn't need to be consisted of right and what does
it require to be considered there's varying 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 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 anywhere you look right eventually constructing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to kind of move forward with that it also too to contribute to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and financing teams work better together than ever um I'm constantly impressed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being used by services across the world so once again you're simply wanting to add more and more payments to this already complicated landscape so if you type 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 difficulties or genuine difficult sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from a cost perspective from an effect viewpoint on employees it is absolutely important 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 need to be done right it has the greatest destructive result on individuals's well-being and lots of other aspects if people aren't paid uh I have actually always been surprised entering into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just notice when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally too. For that reason, it is important to guarantee that jobs like Wi-Fi International and other crucial matters are done properly. Using the first Worldwide Payments very first payroll payment option is an excellent initial action towards offering a detailed payroll solution for workers worldwide. Standardization, international procedures, and reducing the number of tools, platforms, and checking account essential for international payroll are key consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyway we understand how how important 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 processes and also so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of try to get back to everyone so moving on appearance why do companies pick to main different checking account there are organizations out there doing exactly this for particular nations and I have actually worked in an organization or numerous businesses doing exactly that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing extra work for any person where we don't have 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 quantity that we are I think lots of reasons one is it's the standard I believe individuals have got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing but ultimately individuals are extremely stuck with what they're familiar
with right um change is a challenging thing all of us do not like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining several savings account however there's a substantial quantity of intricacy chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is huge but I believe the sincere answer is change um people have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change but we have actually constantly 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 might almost be figured out to be the next Century approximately there is a lot to monitor and this approach does position a number of challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Business 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 Global employees you are worthy of a corner workplace with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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