Find out more about Papaya Global Series D ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and trusted method of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to international workers no matter the variety of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every nation, produce local accounts and have a minimum variety of workers.
The HR abilities provided by Global HR incorporate various functions such as keeping an eye on trip time, guaranteeing compliance, helping with the process of welcoming brand-new workers and bidding farewell to departing ones, providing a protected online platform for keeping employees' documents, and offering support for work permit treatments in case your staff members require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall employment costs dispersed per location, total work costs per cycle and a lot more.
environments around the world I supplied management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Business clients and options as well as serving as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the provider side and also on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I want I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and find how streamlining worldwide payroll payments can change them from a burdensome task into a strategic possession.
Managing payroll internationally is a difficult task due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically result in manual processes, information silos, and a lack of integration, resulting in disparities and inadequacies. In spite of living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international businesses have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes poorly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they count 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 obstacles service face when they're paying to employees or otherwise that's a good concern I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought about there's varying Bank information 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 any place you look ideal eventually building a knowledge base is definitely crucial 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 sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to type of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work 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 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 also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more crucial to contribute to type of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so again you're simply aiming to add more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real difficulties or real challenging type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would absolutely state that the bigger an organization 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 really managing the payment side of things but you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from an expense point of view from an effect point of view on employees it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on individuals's well-being and lots of other factors if people aren't paid uh I have actually always been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a terrific initial step um offering an end-to-end payroll solution for your staff members worldwide again I believe is another big um process again lining up and guaranteeing you have standardization International processes all of those things are absolutely essential to success success of organizations and reducing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how crucial 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 likewise so think of sorry I'm just I was simply gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine 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 try to return to everybody so moving on appearance why do companies choose to main different savings account there are organizations out there doing precisely this for specific countries and I've worked in a business or many services doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for any person where we don't have to and anyone that's dealing with 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 think numerous factors one is it's the requirement I believe individuals have actually got so used to we require a brand-new checking 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 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 contribute to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it requires changing however eventually individuals are very stuck to what they're familiar
with ideal um change is a hard thing we all don't like modification um so I believe it's simply sort 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 preserving several savings account however there's a big quantity of intricacy goes with setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is substantial but I think the sincere response is modification um people have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to monitor and this approach does posture numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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