Find out more about Papaya Global Nyc Office ... 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 obtained a separate Chief Financial Officer specifically committed to managing payments. This provides us with a protected and reputable method of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Worker Portal supplies workers with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to global employees despite the variety of staff members in the company. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional advantages service providers in every nation, create local accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total employment expenses dispersed per place, overall work expenses per cycle and far more.
Globally, I have shown leadership and strategic proficiency in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My function includes handling and establishing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill 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 concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a range of various roles on the service provider side and also on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates 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 raining here it's very very uninspiring and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a burdensome task into a strategic asset.
Managing payroll internationally is an overwhelming task due to different policies, compliance requirements, data security concerns, and banking rules. The large number of workers and businesses adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often result in manual processes, data silos, and a lack of combination, leading to inconsistencies and inadequacies. Despite living in a period of technological developments, 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 services to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on international payroll the less of an image they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of international businesses have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is shipped to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they count on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great concern I always toss this back and say what is it what does not need to be included right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and technology is allowing us to sort of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm always astonished when individuals state 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 profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being provided by businesses throughout the world so again you're just looking to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine challenges or real tough type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the larger a service 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 teams feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from a cost perspective from an effect point of view on employees it is definitely important that it's done correctly and on time so what we indicate 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 result on individuals's wellness and lots of other elements if people aren't paid uh I've always been impressed coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails 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 view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the very first International Payments very first payroll payment option is a fantastic primary step um offering an end-to-end payroll service for your workers internationally again I believe is another big um procedure once again aligning and ensuring you have standardization Global processes all of those things are definitely key to success success of businesses and reducing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand 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 everybody that's involved in those procedures and also so think of sorry I'm just I was just 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 talking about numerous thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and type of try to return to everyone so moving on appearance why do business select to primary separate savings account there are organizations out there doing precisely this for particular countries and I've worked in an organization or many businesses doing exactly that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not creating extra work for anybody where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs changing but ultimately people are very stuck with what they recognize
with ideal um change is a hard thing all of us don't like change um so I believe it's simply type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining numerous checking account but there's a huge amount of complexity opts for establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is big but I think the honest response is modification um people have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century or two there is a lot to keep track of and this approach does pose numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication 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 more detailed, considering your achievements.
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