Find out more about Norway 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 acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app simplifies my payroll procedure, conserving me a considerable amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website offers staff members with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work costs dispersed per location, total work costs per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise customers and solutions along with functioning as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure 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 actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of different roles on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very very bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also go over a recap and that should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more typical and managing them ends up being more and more intricate Global companies are aiming to find Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment standpoint lots of companies preserve different checking account just for payroll while some have numerous accounts in different countries does it make sense for companies to keep different savings account in some cases in various nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies enhance the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for companies running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how improving international payroll payments can transform them from a challenging job into a strategic property.
Managing payroll internationally is a complicated job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically result in manual processes, information silos, and a lack of combination, leading to inconsistencies and ineffectiveness. Regardless of residing in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on global payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global organizations have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they count on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be included best and what does
it require to be thought of there's differing Bank information 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 capabilities 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 customer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is absolutely important but everywhere 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 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 essential and innovation is permitting us to type of move on with that it likewise as well to add to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work better together than ever um I'm always astonished when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end process 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
world we reside in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by businesses across the world so again you're just looking to add a growing number of payments to this already complicated landscape so if you sort 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 difficulties or real difficult type of pay uses to play to pay people I think yeah I imply 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 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 however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to develop additional 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 need to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an impact point of view on workers it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental effect on individuals's wellness and many other factors if people aren't paid uh I've constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this type of webinar has actually been informed 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 workers or not um but eventually payroll is such an important cycle we all 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 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 things is absolutely vital that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment service is a great first step um supplying an end-to-end payroll option for your employees internationally again I think is another substantial um process once again lining up and ensuring you have standardization International procedures all of those things are definitely essential to success success of organizations and reducing the variety of tools platforms and bank accounts they need for their Global payroll too couldn't 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 thousand of them within a payroll cycle don't expect 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 rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 simple as possible for everybody that's involved in those procedures and also so think of sorry I'm just I was simply gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and really see what was going on and sort of shot to return to everyone so proceeding look why do business select to main different bank accounts there are companies out there doing exactly this for particular nations and I have actually operated in an organization or many services doing exactly that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not need to and anyone that's dealing with that process 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 used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people 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 numerous other methods um to to type of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering however eventually individuals are extremely stuck with what they recognize
with right um modification is a tough thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having maintaining numerous checking account however there's a huge amount of complexity opts for establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big but I believe the sincere response is modification um individuals haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could almost be determined to be the next Century or so there is a lot to keep track of and this approach does present numerous difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
Papaya Global Art