Find out more about Myanmar Papaya Global ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This offers us with a protected and trusted method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Staff member Portal offers staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages plans to global staff members regardless of the number of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional benefits providers in every nation, create regional accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR encompass different functions such as monitoring holiday time, making sure compliance, helping with the process of inviting new workers and bidding farewell to leaving ones, offering a protected online platform for saving workers' documents, and supplying assistance for work permit treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work expenses distributed per place, overall employment costs per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise clients and services along with functioning as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've type of had a variety of different functions on the service provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 gloomy and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for services operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how improving global payroll payments can transform them from a difficult task into a strategic possession.
Managing payroll worldwide is a difficult job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of integration, causing inconsistencies and inefficiencies. Despite residing in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to offer insights and services to streamline and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of global businesses have expressed that they do not 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 bad HCM data data entry errors inadequately interacted hires and terminations in addition to lack management and system setups and then when you round it all off and the information is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the necessary several processes 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 business face when they're making payments to staff members or otherwise that's a great concern I always throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities so can you pay it from International or do you need 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 best ultimately developing a knowledge base is definitely important but all over you look with payroll payment they resemble 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to sort of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always impressed 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 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 frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by services across the world so again you're simply wanting to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine challenges or genuine difficult kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would definitely state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from a cost point of view from an impact point of view on employees it is definitely crucial that it's done correctly and on time so what we mean 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 effect on people's well-being and lots of other factors if people aren't paid uh I have actually constantly been impressed entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things fail. However, when things go right, it's seen as just a routine job. This is how it's perceived externally too. Therefore, it is important to ensure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment option is an excellent preliminary step towards providing a comprehensive payroll solution for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and checking account necessary for global payroll are key factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as planned. Eventually, we don't do it for the thankfulness.
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 easy as possible for everyone that's associated with those processes and likewise so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so proceeding look why do companies select to main different savings account there are businesses out there doing precisely this for particular nations and I have actually worked in a business or numerous services doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing additional work for anybody where we do not need to and anybody that's handling that process I 'd be interested to hear your thoughts 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 standard I think people have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a process that needs looking at it requires altering but eventually individuals are extremely stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving multiple checking account however there's a big quantity of complexity opts for establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is huge but I think the honest answer is change um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to change however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or two there is a lot to track and this technique does present a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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