Find out more about Papaya Global Payroll Garnishments ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and reliable approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Employee Portal supplies employees with the ability to access and view crucial 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 numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to worldwide staff members despite the number of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits companies in every country, create regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment expenses distributed per area, overall work expenses per cycle and far more.
Globally, I have demonstrated management and tactical competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for managing payroll methods, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed 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 years of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually sort of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to type 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 drizzling here it's very extremely bleak and I want I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more typical and handling them ends up being increasingly more complex Worldwide organizations are seeking to find Solutions and brand-new methods to streamline processes especially from a payroll and cross-border payment perspective many companies preserve separate bank account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain separate savings account sometimes in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business enhance the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and find how enhancing international payroll payments can change them from a troublesome task into a strategic property.
Managing payroll internationally is a complicated job due to different policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of employees and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and an absence of combination, causing inconsistencies and ineffectiveness. In spite of residing in an era of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in international payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of global businesses have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the needed numerous 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 difficulties business face when they're paying to workers or otherwise that's a great question I always throw this back and state what is it what does not require to be consisted of 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 nation 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 complexity anywhere you look best ultimately developing a knowledge base is absolutely important however everywhere you look with payroll payment they are like super payments no if however some infants 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 believe there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to sort of progress with that it also also to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing teams work closer together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by organizations throughout the world so once again you're just wanting to include a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real obstacles or real tough sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost point of view from an effect perspective on staff members it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful result on people's wellness and numerous other factors if people aren't paid uh I've constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. Therefore, it is vital to make sure that jobs like Wi-Fi Global and other important matters are done properly. Using the first International Payments first payroll payment solution is a terrific initial step towards providing an extensive payroll option for workers worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and bank accounts essential for international payroll are crucial consider accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand how how important 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 procedures and likewise so picture sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need 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 moving on appearance why do business choose to primary different checking account there are organizations out there doing precisely this for specific countries and I have actually worked in a company or many companies doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not need to and anyone that's dealing with 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 numerous reasons one is it's the standard I believe individuals have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering but ultimately people are extremely stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I believe 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 things um I comprehend certainly the advantages of having maintaining several checking account but there's a substantial amount of intricacy goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is big but I think the truthful answer is modification um people haven't had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep track of and this technique does position a number of challenges um so Johnny could you tell us about those difficulties yeah naturally 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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