Find out more about Papaya Global Payroll Processing ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Portal supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits packages to worldwide workers regardless of the number of workers in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every country, create regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment costs distributed per place, overall work costs per cycle and a lot more.
Globally, I have actually demonstrated management and strategic knowledge in guiding massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
business to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great evening depending upon where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a variety of different roles on the provider side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very dreary and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is especially helpful for international companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they add more intricacy the worldwide Labor force 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 consider that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's often a frustrating variety of different systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or very extremely standard there's no real consistency structure we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of presence likewise extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is shipped to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the essential multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be included right 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 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 client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble very payments no if however some children 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 technology is permitting us to kind of move forward with that it also too to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance teams work more detailed together than ever um I'm always impressed 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 profession would they divide 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 procedure it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is ending up being progressively detailed. Companies are continuously introducing new advantages and payment choices, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative period, there's no justification for maintaining cumbersome treatments. Payroll, the company's most significant expense, need to be processed correctly and on time. Even small hold-ups can adversely affect staff members' well-being and have far-reaching consequences. Therefore, it's critical to prioritize accurate and timely payments.
payroll team get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important 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 think 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 things is definitely vital that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent initial step um supplying an end-to-end payroll solution for your staff members globally once again I believe is another huge um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely key to success success of organizations and reducing the variety of tools platforms and savings account they require for their Worldwide 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are in fact 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 involved in those procedures and also so imagine sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task attempting to clean 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 need days of the week to try to check out them and actually see what was going on and kind of try to return to everybody so moving on appearance why do companies pick to main separate savings account there are services out there doing precisely this for particular countries and I have actually operated in a service or many businesses doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering but eventually individuals are very stuck to what they recognize
with best um change is a difficult thing all of us don't like change um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving several savings account however there's a substantial amount of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is huge however I think the sincere answer is modification um people have not had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century or two there is a lot to monitor and this technique does present numerous challenges um so Johnny might you inform us about those obstacles 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 jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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