Find out more about Papaya Global Zoominfo ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and reliable approach of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, conserving me a considerable quantity of time each month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Worker Portal supplies staff members with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to worldwide employees despite the number of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, create local accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR include various functions such as keeping an eye on trip time, ensuring compliance, helping with the process of welcoming brand-new employees and bidding farewell to departing ones, using a protected online platform for keeping workers' documents, and offering assistance for work permit procedures in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total work expenses distributed per area, overall employment costs per cycle and far more.
Globally, I have demonstrated leadership and tactical know-how in directing massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for managing payroll techniques, as mentioned by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and labor force management services to staff members 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 place. It's a satisfaction to fulfill 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 market, I have focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort 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 functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating 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 everybody comes from and I really 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 extremely uninspiring and I wish I was elsewhere at this moment in time fine 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 handling International payroll why business preserve separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a difficult job into a tactical asset.
Handling payroll internationally is a difficult task due to different guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of employees and services adds to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently result in manual procedures, data silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of living in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of global companies have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes improperly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're paying to employees or otherwise that's a great question I constantly throw this back and state what is it what does not need to be included 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 consumer's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 absolutely essential and technology is enabling us to type of move forward with that it likewise too to add to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by businesses throughout the world so again you're simply looking to include increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real difficulties or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce extra handoffs at the same times that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any business has from an expense perspective from an impact perspective on workers it is definitely crucial 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 greatest harmful result on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually always been amazed entering into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important 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 consider 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 correctly so leveraging the first Worldwide Payments very first payroll payment solution is an excellent initial step um offering an end-to-end payroll service for your workers worldwide once again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of services and reducing the number of tools platforms and bank accounts they require for their Worldwide 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow 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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case 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 shot to return to everyone so proceeding appearance why do companies select to main separate savings account there are organizations out there doing precisely this for particular countries and I have actually worked in a company or many organizations doing exactly that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not producing additional work for anyone where we do not need to and any person that's dealing with that procedure 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 standard I believe people have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I think this is a process that requires taking a look at it needs changing but eventually individuals are extremely stuck to what they recognize
with right um modification is a tough thing all of us do not like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having preserving numerous bank accounts however there's a big quantity of complexity goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big however I think the sincere response is modification um individuals haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than 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 aspect of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to track and this technique does pose numerous difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a range 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 employees you deserve a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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