Find out more about Papaya Global Payroll Hourly ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and reliable approach of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Employee Website offers employees with the ability to gain access to and view important files 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.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to worldwide employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every country, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall employment costs distributed per place, total employment costs per cycle and a lot more.
Globally, I have actually demonstrated leadership and strategic knowledge in guiding large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My function involves managing and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. 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 intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually kind of had a range of various roles on the company side and also on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind 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 type of like see where everyone comes from and I really 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 drizzling here it's extremely extremely bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably regulations compliance information security and banking guidelines then there are the sheer numbers they add more intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll design there's often an overwhelming number of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency structure we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more a service spends on global payroll the less of a photo they see a lack of visibility also extends to payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global organizations have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors poorly interacted hires and terminations as well as lack management and system setups and then when you round everything off and the information is shipped to the incorrect location the typical expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they depend on the required numerous procedures 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 difficulties service face when they're making payments to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't require to be consisted of best 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 amount of time 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 consumer's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely vital but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to type of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely vital that payroll and finance groups work closer together than ever um I'm constantly astonished when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from calculation 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 process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the compensation landscape is ending up being progressively elaborate. Companies are continuously presenting brand-new advantages and payment options, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative period, there's no validation for maintaining troublesome treatments. Payroll, the company's most significant expense, must be processed correctly and on time. Even small delays can adversely impact workers' wellness and have far-reaching consequences. Therefore, it's vital to focus on accurate and timely payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just observe when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally too. For that reason, it is essential to ensure that jobs like Wi-Fi Worldwide and other essential matters are done properly. Using the first Worldwide Payments first payroll payment solution is an excellent preliminary action towards offering a thorough payroll solution for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account required for worldwide payroll are essential factors in attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
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 associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to get back to everybody so carrying on look why do business select to main different checking account there are companies out there doing exactly this for specific nations and I've operated in an organization or numerous businesses doing precisely that I can say it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't need to and anyone that's managing 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 many reasons one is it's the standard I think individuals have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I think this is a process that needs looking at it requires changing however ultimately people are really stuck with what they recognize
with right um change is a hard thing we all do not like modification um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having keeping several checking account however there's a substantial quantity of complexity chooses establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is huge however I believe the truthful response is modification um individuals have not been able to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this technique does pose several challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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