Find out more about Papaya Global Payroll Schedule ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and dependable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Worker Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to worldwide employees despite the number of workers in the business. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, create regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs dispersed per area, total employment expenses per cycle and far more.
Globally, I have shown management and tactical knowledge in directing massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a pleasure 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 decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various roles on the company side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually 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 raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll also review a wrap-up which needs to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of typical and handling them becomes increasingly more intricate International organizations are looking to find Solutions and brand-new methods to improve procedures specifically from a payroll and cross-border payment standpoint lots of companies keep different savings account just for payroll while some have numerous accounts in different nations does it make sense for business to keep separate savings account often in various countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business streamline the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to optimize working capital, and find how improving global payroll payments can transform them from a burdensome task into a strategic asset.
Handling payroll globally is a complicated job due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large number of workers and organizations adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems typically result in manual processes, data silos, and a lack of integration, leading to disparities and ineffectiveness. Regardless of residing in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to provide insights and services to streamline and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a business invests in worldwide payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide businesses have actually 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 poor HCM information information entry mistakes improperly 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 place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the required numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of right 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 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 intricacy any place you look best ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they are like super 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 essential and innovation is allowing us to type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to type of the level of complexity there's increasingly more advantages being organ or being used by organizations throughout the world so again you're simply wanting to include increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or real tough kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and an age 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 concurred and appropriately as you said payroll is the single most significant liability that any service has from an expense viewpoint from an impact point of view on workers it is absolutely vital that it's done correctly and on time so what we imply 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 destructive impact on individuals's well-being and many other elements if people aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally also. Therefore, it is essential to make sure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first Global Payments very first payroll payment solution is a fantastic initial step towards providing a thorough payroll service for workers worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and bank accounts necessary for worldwide payroll are crucial consider achieving organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we know how how crucial 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 involved in those processes and also so think of sorry I'm simply 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'm sure we're talking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and type of try to get back to everybody so proceeding look why do companies pick to primary different savings account there are services out there doing precisely this for particular nations and I have actually operated in a company or numerous companies doing precisely that I can state it doesn't always feel effective and it does produce more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't have to and anyone that's handling 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 many reasons one is it's the requirement I believe individuals have got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it needs altering however eventually people are extremely stuck to what they're familiar
with right um change is a tough thing we all don't like change um so I believe it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several bank accounts but there's a huge amount of complexity goes with establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge but I think the sincere answer is change um people haven't been able to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or so there is a lot to track and this approach does position a number of difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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