Find out more about Papaya Global Payroll Solutions ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and dependable method of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Employee Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to worldwide staff members despite the variety of staff members in the business. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every country, create regional accounts and have a minimum number of workers.
The HR abilities offered by International HR encompass numerous functions such as keeping track of holiday time, ensuring compliance, helping with the procedure of welcoming new employees and bidding goodbye to departing ones, using a safe and secure online platform for storing employees' files, and supplying support for work allow procedures in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment costs distributed per location, overall work costs per cycle and much more.
Worldwide, I have demonstrated leadership and tactical expertise in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function includes managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually 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 very very uninspiring and I wish I was somewhere else at this moment in time all right 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 business preserve separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise go over a recap and that must leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and managing them becomes increasingly more complicated Global organizations are aiming to discover Solutions and new ways to streamline procedures specifically from a payroll and cross-border payment perspective lots of companies keep different bank account just for payroll while some have multiple accounts in different nations does it make sense for business to keep separate bank accounts often in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international business enhance the episode complex processes of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for businesses running internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a burdensome job into a tactical possession.
Managing payroll worldwide is a daunting job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of integration, resulting in disparities and ineffectiveness. Regardless of residing in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in global payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide businesses have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what does not require to be included right and what does
it require to be thought of 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 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 Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm always impressed when people say I have actually split 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 calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to add to sort of the level of complexity there's increasingly more advantages being organ or being offered by businesses throughout the world so once again you're simply seeking to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine difficult sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a number of years I would definitely say that the bigger an organization 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 details into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know 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 said payroll is the single biggest liability that any service has from an expense point of view from an impact viewpoint on staff members it is absolutely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on people's wellness and many other aspects if people aren't paid uh I have actually always been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this type 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 workers or not um but ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment solution is a great primary step um offering an end-to-end payroll solution for your employees worldwide once again I think is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and bank accounts they need for their Global 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how essential 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 easy as possible for everybody that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't envision 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 in fact see what was going on and kind of shot to return to everyone so carrying on look why do business select to primary different bank accounts there are services out there doing exactly this for specific nations and I've operated in an organization or many organizations doing exactly that I can state it does not always feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for anybody where we do not need to and anybody that's handling that process 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 believe numerous reasons one is it's the requirement I think people have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs changing however ultimately people are extremely stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping several savings account but there's a huge amount of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is big but I think the truthful response is change um people haven't been able to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages 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 keep an eye on and this approach does pose numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you should have a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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