Find out more about Papaya Global Payroll Expert ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
The advanced worldwide payroll management app enhances my payroll procedure, saving me a significant amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Staff member Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to global workers no matter the number of workers in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every country, create local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, total work expenses distributed per area, total employment expenses per cycle and a lot more.
Internationally, I have actually demonstrated leadership and tactical competence in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to workers 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, despite your place. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, 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 7 years. The complexities and obstacles 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've kind of had a variety of different functions on the company side and likewise on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite 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 all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody 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 really really uninspiring and I want I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll likewise review a wrap-up which needs to leave his time at the very 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 Worldwide labor forces become increasingly more common and managing them ends up being more and more intricate Worldwide organizations are wanting to discover Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment perspective many organizations keep different savings account just for payroll while some have several accounts in various countries does it make sense for companies to keep different bank accounts in some cases in various nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies streamline the episode complex processes of
Guaranteeing accurate, effective, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll costs to optimize working capital, and discover how improving global payroll payments can change them from a troublesome job into a strategic property.
Handling payroll internationally is an overwhelming job due to various regulations, compliance requirements, information security issues, and banking guidelines. The large number of employees and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of combination, causing inconsistencies and inefficiencies. Despite living in a period of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and options to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a company invests in global payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the information is shipped to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they depend on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to employees or otherwise that's a good question I always toss this back and state what is it what does not require to be included ideal and what does
it require to be considered there's differing Bank details 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they are like super payments no if but some babies 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 definitely basic and innovation is permitting us to kind of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely vital that payroll and finance teams work better together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 data 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 contemporary world puts a high value on well-being and the settlement landscape is becoming significantly detailed. Organizations are constantly presenting brand-new advantages and payment alternatives, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into different teams, which can lead to inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically sophisticated era, there's no reason for preserving cumbersome procedures. Payroll, the company's most significant cost, need to be processed properly and on time. Even slight hold-ups can adversely impact workers' well-being and have far-reaching consequences. Therefore, it's vital to prioritize accurate and timely payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just see when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally as well. For that reason, it is essential to guarantee that jobs like Wi-Fi Global and other vital matters are done correctly. Using the very first Global Payments very first payroll payment option is a fantastic initial step towards providing a comprehensive payroll option for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts needed for international payroll are essential consider achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we understand how how essential 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 processes and also so envision sorry I'm just I was just 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'm sure we're discussing numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task 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 try to look through them and really see what was going on and sort of try to return to everyone so moving on look why do business select to main different bank accounts there are organizations out there doing precisely this for specific countries and I've operated in a company or lots of services doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for anyone where we do not need to and anyone that's handling that procedure 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 lots of reasons one is it's the requirement I believe individuals have got so used to we require a brand-new savings account we open an entity and rightly 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 requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires changing however eventually people are really stuck to what they recognize
with right um change is a challenging thing all of us don't like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving several savings account but there's a big quantity of intricacy chooses establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big however I believe the sincere answer is change um individuals haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to track and this approach does pose several difficulties um so Johnny could you tell us about those difficulties yeah obviously 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 acquired another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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