Find out more about Papaya Global Missed Payroll ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and dependable approach of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Staff member Website supplies employees with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to international employees no matter the number of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every country, produce local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment expenses dispersed per location, overall employment costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic know-how in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable 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 actually concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting 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 truly 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 extremely really 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 taking a look at the difficulty years of managing Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a recap and that must leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of typical and managing them becomes a growing number of complex International organizations are aiming to discover Solutions and brand-new methods to simplify processes particularly from a payroll and cross-border payment viewpoint many organizations maintain separate savings account just for payroll while some have multiple accounts in various nations does it make sense for companies to keep different checking account in some cases in different countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, find out how business forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome job into a strategic possession.
Handling payroll internationally is a challenging job due to different regulations, compliance requirements, data security concerns, and banking rules. The large number of employees and businesses contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of living in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to streamline and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide services have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the data is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they rely on the needed multiple procedures 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 workers or otherwise that's a great concern I always throw 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 differing Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the consumer's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 basic and technology is permitting us to type of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance teams work closer 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 anyone what is payroll who doesn't operate in the payroll occupation would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to sort of the level of complexity there's increasingly more benefits being organ or being used by businesses across the world so once again you're simply wanting to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or real tough kind of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would absolutely say that the bigger an organization 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 groups feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single greatest liability that any company has from a cost point of view from an effect viewpoint on workers it is absolutely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on people's well-being and lots of other elements if people aren't paid uh I've always been surprised entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally too. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first International Payments first payroll payment service is a great preliminary step towards offering a comprehensive payroll option for workers worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account essential for global payroll are crucial consider attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we know how how essential a function 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 simply I was simply gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and sort of try to get back to everyone so proceeding look why do companies select to primary different savings account there are businesses out there doing precisely this for specific nations and I've worked in an organization or lots of organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing extra work for any person where we do not need to and anyone that's managing that procedure 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 requirement I believe people have got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that needs taking a look at it requires altering but ultimately people are extremely stuck with what they recognize
with ideal um modification is a challenging thing we all don't like change um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having maintaining multiple checking account however there's a substantial quantity of complexity opts for establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is huge however I think the sincere answer is modification um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this method does posture a number of obstacles um so Johnny could you tell us about those obstacles yeah naturally 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 manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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