Find out more about Papaya Global Stock Symbol ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Website provides staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to international workers regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every nation, create local accounts and have a minimum variety of workers.
The HR abilities supplied by International HR incorporate various functions such as monitoring trip time, guaranteeing compliance, facilitating the process of welcoming new workers and bidding goodbye to departing ones, offering a safe online platform for saving employees' documents, and offering support for work permit procedures in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work expenses dispersed per area, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, 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 options for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of different roles on the supplier side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join all of us 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 simply to hear where everybody is um it's nice to to sort of like see where everyone originates 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 really very bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most notably guidelines compliance data security and banking rules then there are the large numbers they add more intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's often an overwhelming variety of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really very fundamental there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of global businesses have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the information is shipped to the wrong location the typical expense of a global information 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 required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 anywhere you look best eventually developing a knowledge base is absolutely critical but all over you look with payroll payment they are like super payments no if but 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 sort of progress with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work more detailed together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you stroll 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 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the payment landscape is ending up being progressively complex. Companies are continually introducing new benefits and payment options, which contributes to the total complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my viewpoint, this does not have to be the case. In today's highly sophisticated era, there's no justification for maintaining troublesome procedures. Payroll, the company's biggest expense, should be processed correctly and on time. Even minor hold-ups can negatively impact workers' wellness and have significant effects. Therefore, it's important to prioritize accurate and prompt payments.
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment service is a terrific first step um providing an end-to-end payroll solution for your employees internationally once again I think is another huge um process again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of organizations and minimizing the variety of tools platforms and bank accounts they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how essential 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 everyone that's associated with those procedures and also so think of sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing 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 however it would certainly be a fascinating job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do business pick to main separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in a service or numerous services doing precisely that I can say it does not always feel effective and it does create more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't have to and anybody that's handling that procedure 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 believe many factors one is it's the requirement I think people have got so utilized to we require a new savings 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 believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that requires looking at it requires changing but ultimately individuals are extremely stuck to what they recognize
with ideal um change is a tough thing all of us do not like change um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having preserving multiple savings account however there's a substantial quantity of intricacy chooses establishing a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private people so the complexity is huge however I think the truthful response is change um individuals haven't had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an element 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 practically be identified to be the next Century or so there is a lot to keep track of and this method does position a number of obstacles um so Johnny might you tell us about those challenges yeah naturally 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 actually acquired another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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