Find out more about Papaya Global Payroll Reports ... We now have the ability 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 particularly committed to managing payments. This provides us with a safe and secure and dependable method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Worker Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide employees no matter the number of workers in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits companies in every country, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment expenses dispersed per place, total work costs per cycle and a lot more.
Globally, I have demonstrated leadership and tactical expertise in guiding large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various functions on the company side and also on the vendor side from a payroll viewpoint 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 simply give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating 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 comes from and I truly 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 raining here it's extremely extremely uninspiring and I want I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance information security and banking guidelines then there are the sheer numbers they include further complexity the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating number of different systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or really very basic there's no genuine consistency structure we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of presence also reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide businesses have actually revealed 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 because of time reporting bad HCM information data entry errors inadequately communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is shipped to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers 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 need to be considered there's differing Bank information 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble very 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 believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to sort of progress with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely vital that payroll and financing teams work closer together than ever um I'm always astonished 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 occupation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on wellness and the settlement landscape is ending up being increasingly complex. Services are continually introducing new advantages and payment choices, which adds to the overall intricacy. Large corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically sophisticated period, there's no validation for preserving troublesome procedures. Payroll, the business's biggest expense, must be processed properly and on time. Even minor hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is an excellent initial step um supplying an end-to-end payroll service for your employees worldwide once again I believe is another substantial um procedure once again lining up and ensuring you have standardization International processes all of those things are definitely essential to success success of companies and decreasing the number of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how important 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 everybody that's associated with those processes and also so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and type of shot to return to everybody so carrying on appearance why do companies pick to primary different bank accounts there are organizations out there doing exactly this for specific nations and I've worked in a service or lots of companies doing precisely that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe individuals have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually embraced 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 numerous other ways um to to type of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires changing but eventually individuals are very stuck to what they're familiar
with best um modification is a difficult thing we all do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having preserving numerous checking account however there's a big amount of complexity opts for setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big but I think the sincere response is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to track and this method does position a number of challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you deserve a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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