Find out more about Papaya Global Payroll Company ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and trusted method of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Employee Portal offers employees with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits bundles to worldwide staff members regardless of the number of workers in the business. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional benefits companies in every nation, produce local accounts and have a minimum number of workers.
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 permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs distributed per place, overall employment expenses per cycle and far more.
Worldwide, I have demonstrated leadership and tactical competence in directing large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for managing payroll techniques, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I have actually type of had a range of different functions on the company side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing 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 everybody comes from and I actually 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 very gloomy and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional checking account for handling payroll payments. This is especially helpful for international companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various 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 talk about why they are becoming a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most significantly policies compliance data security and banking rules then there are the sheer numbers they include more complexity the international Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently an overwhelming number of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or very really standard there's no real consistency framework we're living in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization invests in international payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of global companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors improperly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect place the average cost 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 efficiently if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're paying to workers or otherwise that's a good concern I always toss this back and state what is it what does not need to be consisted of best 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 nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like very payments no if however some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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
The modern-day world places a high value on wellness and the payment landscape is ending up being increasingly elaborate. Organizations are continually introducing brand-new advantages and payment choices, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to be the case. In today's highly innovative age, there's no reason for maintaining troublesome treatments. Payroll, the business's greatest cost, need to be processed correctly and on time. Even slight delays can adversely affect workers' well-being and have significant effects. For that reason, it's important to focus on accurate and prompt payments.
payroll group get um so I'm unsure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this things is done properly so leveraging the first International Payments very first payroll payment option is an excellent initial step um providing an end-to-end payroll option for your workers internationally again I believe is another big um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and reducing the variety of tools platforms and checking account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway 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 everybody that's associated with those processes and also so picture sorry I'm simply I was just gon na state envision 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 discussing hundreds of thousands possibly 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 however it would absolutely be a fascinating job attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and type of shot to return to everybody so proceeding look why do companies choose to primary different savings account there are companies out there doing precisely this for particular nations and I've worked in a service or many businesses doing exactly that I can state it does not always feel effective and it does create more work I know we're not purposely doing that we're not creating additional work for anybody where we do not have to and any person that's dealing with 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 amount that we are I think numerous reasons one is it's the requirement I believe individuals have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you need 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 standard the people have 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 methods um to to sort of do it so I believe there's a range I believe this is a process that needs looking at it requires changing but ultimately individuals are very stuck with what they're familiar
with best um modification is a tough thing we all don't like modification 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 great deal of track of stuff um I comprehend obviously the advantages of having keeping several bank accounts however there's a big quantity of complexity goes with establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is huge however I think the honest answer is change um people have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century or so there is a lot to track and this technique does posture numerous difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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