Find out more about Papaya Global Payroll Summary Report ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and reliable method of paying to our 10,000 workers worldwide.}
The innovative global payroll management app simplifies my payroll procedure, saving me a significant quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to international employees no matter the number of staff members in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages providers in every country, produce local accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work costs distributed per place, overall work costs per cycle and a lot more.
Globally, I have actually demonstrated leadership and strategic proficiency in directing massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for supervising payroll methods, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the supplier side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 extremely very bleak and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies keep separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different 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 talk about why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll expenses to enhance working capital, and find how streamlining global payroll payments can transform them from a troublesome task into a strategic asset.
Handling payroll internationally is a difficult job due to various policies, compliance requirements, data security issues, and banking rules. The large number of employees and companies contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of integration, resulting in inconsistencies and ineffectiveness. Regardless of residing in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to offer insights and services to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in global payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide companies have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes badly communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run smoothly if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not need to be included ideal and what does
it need to be thought of there's varying 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 need to pay from the client's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if but some infants 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 acknowledgment that payroll payments are absolutely basic and innovation is allowing us to type of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry 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 people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to kind of the level of complexity there's increasingly more benefits being organ or being provided by organizations throughout the world so again you're simply looking to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or real difficult kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense perspective from an impact perspective on workers it is absolutely important that it's done correctly and on time so what we suggest 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 individuals's well-being and lots of other elements if people aren't paid uh I have actually constantly been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle we all find out about it when it goes wrong 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 stuff is absolutely important that all of this things is done correctly so leveraging the first Global Payments very first payroll payment solution is a fantastic first step um supplying an end-to-end payroll option for your employees internationally once again I think is another huge um procedure again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of businesses and reducing the variety of tools platforms and checking account they require for their International 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 ever had a hundred thousand of 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 problems where things have not gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyhow 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 simple as possible for everyone that's involved in those processes and also so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and really see what was going on and sort of try to get back to everybody so proceeding look why do business choose to main separate bank accounts there are services out there doing exactly this for specific countries and I've operated in a company or lots of organizations doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I think individuals have got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have 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 lots of other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs looking at it needs changing but ultimately individuals are extremely stuck to what they're familiar
with right um change is a hard thing we all don't like change um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having keeping several savings account however there's a substantial amount of complexity goes with establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is substantial but I believe the honest answer is change um individuals haven't been able to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century or two there is a lot to keep an eye on and this approach does present a number of obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I 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 actually gained another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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