Find out more about Papaya Global Number Of Employees ... We now have the ability 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 specifically committed to managing payments. This offers us with a safe and secure and reliable technique of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Website offers staff members with the capability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to global employees despite the number of workers in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every country, create local accounts and have a minimum variety of employees.
The HR abilities offered by Global HR include various functions such as keeping track of holiday time, making sure compliance, assisting in the process of inviting new workers and bidding farewell to leaving ones, providing a secure online platform for storing employees' files, and providing assistance for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total work costs dispersed per location, overall employment costs per cycle and a lot more.
Internationally, I have shown management and strategic knowledge in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce 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 pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very really bleak and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business keep different
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most notably guidelines compliance information security and banking guidelines then there are the large numbers they include further intricacy the international Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll design there's typically a frustrating variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely very fundamental there's no real consistency structure we're living in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide businesses have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is shipped to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they count on the required several 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 difficulties organization face when they're paying to staff members or otherwise that's a good question I always toss this back and state what is it what does not need 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 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 client's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely important however all over you look with payroll payment they resemble super payments no if however some children 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 sort of move forward with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work better together than ever um I'm always impressed when individuals state I've 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 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 information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the settlement landscape is becoming significantly elaborate. Organizations are continuously presenting brand-new advantages and payment options, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into separate teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not have to be the case. In today's technically innovative era, there's no justification for maintaining cumbersome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even small delays can negatively affect employees' well-being and have far-reaching effects. Therefore, it's critical to focus on precise and prompt payments.
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. For that reason, it is essential to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Using the first International Payments first payroll payment option is a fantastic initial action towards supplying a detailed payroll option for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and bank accounts essential for international payroll are crucial factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how important 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 easy as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine 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 intriguing job trying to clean 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 attempt to browse them and actually see what was going on and kind of try to return to everyone so moving on look why do companies select to primary separate bank accounts there are businesses out there doing exactly this for specific countries and I've worked in an organization or lots of companies doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not need to and any person that's dealing with 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 numerous factors one is it's the requirement I believe individuals have actually got so used 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 norm individuals have 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 sort of do it so I believe there's a range I think this is a process that requires looking at it requires altering however eventually people are very stuck with what they recognize
with best um modification is a tough thing we all do not like modification um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a big amount of intricacy goes with setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is substantial but I believe the sincere response is change um people have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or two there is a lot to track and this method does position a number of obstacles 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 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 gained another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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