Find out more about Papaya Global Payroll Puerto Rico ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits plans to international employees despite the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional benefits companies in every country, create local accounts and have a minimum variety of employees.
The HR capabilities provided by Global HR incorporate various functions such as monitoring holiday time, making sure compliance, helping with the process of welcoming brand-new staff members and bidding goodbye to departing ones, offering a protected online platform for storing employees' files, and providing support for work allow treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment costs distributed per area, overall employment expenses per cycle and far more.
Globally, I have shown leadership and tactical expertise in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for a lot of influential business worldwide we supply payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you are in the world it's lovely to satisfy 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 been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
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 likewise on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody 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 bleak and I want I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most importantly regulations compliance data security and banking rules then there are the sheer numbers they include more complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll model there's frequently a frustrating number of different systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or extremely really fundamental there's no real consistency framework we're residing in a period of tech however payroll has 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 each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more an organization spends on global payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations 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 because of time reporting bad HCM information information entry mistakes badly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the data is delivered to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they count on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to staff members or otherwise that's a great question I always toss this back and say what is it what doesn't require to be consisted of best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 client's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of move forward with that it also also to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely important that payroll and financing groups work closer together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to add to type of the level of complexity there's a growing number of advantages being organ or being used by services across the world so once again you're just aiming to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to produce 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 a period that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any service has from a cost point of view from an effect viewpoint on employees it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest destructive effect on individuals's well-being and numerous other aspects if people aren't paid uh I've always been amazed coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout 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 absolutely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a great first step um providing an end-to-end payroll service for your workers internationally once again I think is another huge um process again lining up and guaranteeing you have standardization International processes all of those things are definitely key to success success of companies and lowering the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of 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 5 or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not think any of us are really doing that for for the thanks
anyway we know how how important a role 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 involved in those processes and likewise so picture sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely 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 attempt to browse them and actually see what was going on and type of shot to return to everyone so moving on look why do companies choose to primary separate bank accounts there are services out there doing exactly this for specific countries and I've operated in an organization or many services 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 anyone where we don't need to and any person 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 think many factors one is it's the requirement I believe individuals have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm 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 many other methods um to to type of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs altering however ultimately individuals are really stuck with what they're familiar
with ideal um change is a challenging thing we all do not like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having keeping several checking account but there's a huge quantity of intricacy opts for setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is substantial however I believe the truthful response is modification um individuals haven't been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or so there is a lot to keep an eye on and this method does position a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification 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 gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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