Find out more about Unlocking Efficiency On A Budget With Papaya Global ... 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 obtained a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Staff member Portal supplies workers with the capability to access and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to worldwide staff members despite the number of employees in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every country, produce regional accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR include numerous functions such as keeping track of vacation time, guaranteeing compliance, assisting in the procedure of inviting new workers and bidding goodbye to departing ones, using a secure online platform for keeping employees' files, and supplying assistance for work permit procedures in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work expenses dispersed per area, total work costs per cycle and much more.
Internationally, I have demonstrated management and strategic expertise in directing large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying 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, despite your area. It's an enjoyment to meet you and thank you for your important 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 focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various roles on the provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everyone another couple 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 rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really really bleak and I wish I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up which should leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and managing them ends up being a growing number of complex Global organizations are seeking to find Solutions and new methods to improve procedures specifically from a payroll and cross-border payment perspective many organizations maintain separate bank account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep different checking account often in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business enhance the episode complex processes of
Making sure precise, efficient, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how companies forecast payroll costs to optimize working capital, and find how improving international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll internationally is a difficult task due to different guidelines, compliance requirements, information security issues, and banking guidelines. The large number of staff members and businesses adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and a lack of combination, resulting in inconsistencies and ineffectiveness. In spite of living in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of a photo they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of international organizations have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes badly interacted hires and terminations along with absence management and system setups and then when you round everything off and the data is shipped to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they rely on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be consisted of right 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 time frames 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 intricacy any place you look best eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate 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 typically 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 any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by organizations across the world so again you're simply seeking to add increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real difficult kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling 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 understand long gone are the times where we require to produce extra handoffs at the same times 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 a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any service has from a cost perspective from an effect point of view on employees 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 biggest harmful impact on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been astonished entering this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been informed 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 workers or not um but eventually payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment service is a great primary step um supplying an end-to-end payroll option for your workers worldwide once again I believe is another big um procedure once again lining up and guaranteeing you have standardization Global processes all of those things are definitely key to success success of businesses and decreasing the number of tools platforms and bank accounts they need 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'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 complaints where things haven't gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 involved in those procedures and likewise so envision sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and kind of try to get back to everybody so moving on look why do business choose to primary different savings account there are organizations out there doing exactly this for particular countries and I have actually operated in a business or numerous organizations doing precisely that I can say it does not always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anyone where we do not have to and any person that's handling 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 quantity that we are I think lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety 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 passed by to add to that people have actually 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 range I think this is a process that needs taking a look at it requires altering however ultimately individuals are extremely stuck with what they're familiar
with right um modification is a challenging thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having maintaining multiple bank accounts but there's a huge quantity of intricacy opts for establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is huge but I think the honest answer is modification um individuals have not had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep track of and this technique does position several difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I simply did you switched 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 Worldwide staff members you should have a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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