Find out more about Papaya Global Nyc Salary ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to worldwide staff members despite the number of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local advantages providers in every country, create local accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR incorporate various functions such as keeping track of trip time, ensuring compliance, helping with the process of inviting new employees and bidding farewell to leaving ones, providing a protected online platform for saving workers' documents, and providing support for work allow procedures in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs distributed per area, overall work costs per cycle and a lot more.
Globally, I have actually shown leadership and tactical expertise in directing large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 nations. 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 satisfaction to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everyone another number of uh well one of 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 intriguing and I can see it going on currently just to hear where everybody 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 is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very bleak and I wish I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which should leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more typical and handling them becomes a growing number of complicated Worldwide companies are looking to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment viewpoint lots of companies maintain separate bank account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve different savings account in some cases in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international business streamline the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and find how streamlining international payroll payments can transform them from a troublesome task into a strategic asset.
Handling payroll globally is a daunting job due to different policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and services adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, data silos, and an absence of combination, leading to inconsistencies and inefficiencies. Regardless of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to supply insights and options 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 only 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service spends on worldwide payroll the less of a photo they see a lack of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors improperly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be consisted of best and what does
it need to be thought about there's differing 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 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 intricacy any place you look ideal eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to kind of move on with that it likewise too to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing groups work more detailed together than ever um I'm always astonished when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 typically 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 likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being used by companies across the world so once again you're just seeking to include a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or genuine difficult type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments works 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 but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an effect point of view 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 have to be done right it has the biggest damaging impact on people's wellness and many other factors if individuals aren't paid uh I've constantly been astonished coming into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll service for your employees globally again I believe is another big um process once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of services and minimizing the variety of tools platforms and bank accounts they require for their International 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyway 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 simple as possible for everybody that's involved in those processes and likewise so imagine 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'm sure we're talking about numerous thousands potentially Millions envision 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 certainly be an intriguing task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need 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 moving on appearance why do business choose to main separate bank accounts there are companies out there doing exactly this for specific countries and I have actually operated in a company or lots of companies doing exactly that I can say it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for anybody where we do not have to and any person that's handling 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 believe numerous factors one is it's the requirement I think people have actually got so used to we require a brand-new checking account we open an entity and rightly 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 simply been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but eventually people are really stuck to what they're familiar
with ideal um modification is a difficult thing we all don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having maintaining multiple checking account but there's a big quantity of intricacy opts for setting up a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is substantial however I think the sincere answer is modification um individuals have not been able to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually always 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 determined to be the next Century approximately there is a lot to track and this method does present several difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle 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 effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international 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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