Find out more about Papaya Global Payroll Com ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reliable approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Worker Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to global employees no matter the number of workers in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every nation, develop local accounts and have a minimum number of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total work costs dispersed per area, total employment costs per cycle and a lot more.
Internationally, I have demonstrated leadership and strategic expertise in directing massive populations of over 100,000 workers across 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force 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, regardless of your location. It's a pleasure to meet 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 market, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually kind of had a variety of various functions on the supplier side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather 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 really do hope it's much sunnier than it is 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 very extremely bleak and I want I was somewhere else at this moment in time okay 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 companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic property uh we'll likewise review a wrap-up and that needs to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and managing them ends up being more and more intricate Global companies are seeking to find Solutions and new methods to streamline processes especially from a payroll and cross-border payment viewpoint many companies keep different bank account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain separate checking account often in various countries it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Ensuring precise, effective, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to optimize working capital, and discover how streamlining international payroll payments can change them from a challenging task into a tactical possession.
Handling payroll worldwide is an overwhelming task due to various guidelines, compliance requirements, data security concerns, and banking rules. The sheer number of employees and companies contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and an absence of integration, causing inconsistencies and inadequacies. In spite of residing in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and services to simplify and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in international payroll the less of an image they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of international businesses have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the data is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great concern 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 considered there's differing Bank information 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is definitely important however all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals say 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 procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to add to kind of the level of complexity there's a growing number of advantages being organ or being provided by organizations throughout the world so once again you're just wanting to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to produce extra handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an impact viewpoint on employees it is absolutely critical 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 biggest damaging impact on individuals's wellness and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific primary step um supplying an end-to-end payroll option for your employees globally again I think is another big um procedure once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of companies and decreasing the variety of tools platforms and bank accounts they need for their Global 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 have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how important 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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and sort of try to get back to everybody so carrying on appearance why do business choose to main different savings account there are businesses out there doing exactly this for specific nations and I've worked in a company or numerous companies doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not developing extra work for anyone where we don't need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals 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 numerous other ways um to to type of do it so I think there's a range I think this is a process that needs looking at it requires altering but ultimately individuals are extremely stuck to what they're familiar
with best um modification is a challenging thing we all do not like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having preserving several savings account however there's a huge quantity of intricacy goes with setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is huge but I think the honest response is change um people have not been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to keep an eye on and this technique does present numerous obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner workplace with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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