Find out more about Papaya Global Global Payroll ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and trustworthy method of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website provides workers with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits plans to global employees despite the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every country, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment expenses distributed per area, total work costs per cycle and a lot more.
environments around the world I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business handling and building external relationships supporting Enterprise clients and options in addition to functioning as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce 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 discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've kind of had a variety of various roles on the provider side and likewise 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 everyone okay thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join we all 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 already simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually 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 drizzling here it's really really dreary and I wish I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for services running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to optimize working capital, and find how streamlining international payroll payments can transform them from a challenging task into a strategic property.
Handling payroll internationally is an overwhelming job due to various policies, compliance requirements, data security concerns, and banking rules. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and inadequacies. Despite living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to provide insights and options to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in worldwide payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide companies have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they count on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a good concern I constantly toss this back and say what is it what doesn't require to be included best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is definitely vital but all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to sort of move on with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely vital that payroll and finance teams work more detailed together than ever um I'm constantly impressed when people state I have actually split 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 split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 people wherever they are but 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 type of the level of complexity there's a growing number of benefits being organ or being offered by services throughout the world so again you're just wanting to add increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would certainly state that the bigger a company 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 details into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from a cost perspective from an effect point of view on staff members it is absolutely vital that it's done properly 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 most significant destructive effect on individuals's wellness and lots of other elements if people aren't paid uh I've constantly been surprised coming into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just notice when things fail. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. Therefore, it is important to make sure that jobs like Wi-Fi International and other vital matters are done correctly. Using the first International Payments first payroll payment service is a fantastic initial action towards providing a detailed payroll option for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account required for international payroll are key consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow we know how how crucial a function 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 processes and also so imagine sorry I'm simply I was simply gon na say envision 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 hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely 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 in fact see what was going on and type of shot to return to everyone so carrying on appearance why do business choose to main different savings account there are companies out there doing precisely this for particular nations and I've worked in a company or lots of companies doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not deliberately doing that we're not creating additional work for any person where we don't need 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 amount that we are I think many factors one is it's the standard I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually 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 believe this is a procedure that needs taking a look at it needs altering however ultimately people are very stuck to what they recognize
with ideal um modification is a tough thing all of us do not like modification um so I believe 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 undoubtedly the benefits of having keeping multiple bank accounts but there's a huge quantity of complexity chooses setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is huge however I believe the truthful answer is change um people haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or two there is a lot to monitor and this approach does present a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your accomplishments.
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