Find out more about Papaya Global Turks And Caicos ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and secure and reputable method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages packages to worldwide staff members no matter the number of workers in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR encompass different functions such as monitoring vacation time, guaranteeing compliance, assisting in the procedure of inviting brand-new workers and bidding farewell to departing ones, providing a protected online platform for saving employees' documents, and providing support for work allow treatments in case your staff members require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment costs distributed per location, total employment costs per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Business customers and options along with functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely uninspiring and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession 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.
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how business forecast payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a troublesome task into a strategic asset.
Handling payroll globally is a challenging job due to different policies, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. Regardless of residing in an era of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to offer insights and solutions to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company invests in global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of global companies have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it require to be considered there's differing Bank details 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble super payments no if however 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 think there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to sort of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work better together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to add to type of the level of intricacy there's a growing number of advantages being organ or being provided by organizations across the world so again you're simply looking to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine challenges or real difficult sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups 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 know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you know that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from an expense perspective from an effect viewpoint on employees it is absolutely critical that it's done properly 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 harmful effect on people's well-being and lots of other aspects if people aren't paid uh I've always been impressed entering this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a great initial step um offering an end-to-end payroll service for your staff members worldwide once again I believe is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of companies and lowering the variety of tools platforms and checking 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've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how crucial 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 everybody that's involved in those processes and likewise so imagine sorry I'm just I was just gon na state envision 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 talking about hundreds of thousands potentially 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 but it would definitely be a fascinating 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 look through them and actually see what was going on and kind of shot to return to everyone so carrying on appearance why do business choose to primary different checking account there are organizations out there doing precisely this for specific countries and I have actually operated in an organization or numerous companies doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing additional work for anybody 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 lots of reasons one is it's the requirement I think people have got so used to we need a new checking account we open an entity and appropriately 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 simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it needs changing however ultimately individuals are very stuck with what they recognize
with ideal um change is a tough thing all of us don't like change um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having maintaining numerous savings account but there's a substantial amount of intricacy goes with establishing a savings account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge but I believe the sincere answer is modification um people haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or so there is a lot to keep an eye on and this technique does present numerous challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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