Find out more about Papaya Global Payroll Time ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and trustworthy technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Website supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to international employees regardless of the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by International HR include numerous functions such as monitoring getaway time, ensuring compliance, facilitating the process of inviting brand-new employees and bidding goodbye to departing ones, providing a protected online platform for saving workers' documents, and supplying support for work permit procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work expenses dispersed per area, overall employment expenses per cycle and much more.
Globally, I have demonstrated management and tactical know-how in directing large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to satisfy 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 industry, I have focused on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various roles on the company side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join we all 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 currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is 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 extremely very dreary and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate savings account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies anticipate payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a difficult job into a strategic possession.
Handling payroll worldwide is a daunting task due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and services adds to the intricacy, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual processes, information silos, and an absence of integration, causing disparities and inadequacies. Despite residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and services to streamline and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of global services have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is shipped to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they rely on the necessary 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 challenges business face when they're making payments to workers or otherwise that's a great question I always throw this back and say what is it what doesn't require to be included best and what does
it need to be considered 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 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 any place you look right ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of move forward with that it also also to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely essential that payroll and financing groups work closer together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation 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 process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is becoming significantly complex. Companies are continuously presenting new benefits and payment alternatives, which adds to the general complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inadequacies and traffic jams. In my viewpoint, this doesn't have to be the case. In today's technologically advanced era, there's no justification for preserving troublesome procedures. Payroll, the company's greatest cost, must be processed correctly and on time. Even minor delays can adversely affect workers' wellness and have significant repercussions. For that reason, it's important to focus on precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only observe when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. For that reason, it is necessary to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Using the very first Worldwide Payments very first payroll payment option is a fantastic preliminary step towards supplying an extensive payroll service for workers worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and savings account needed for international payroll are essential consider accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Eventually, we don't do it for the thankfulness.
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 simple as possible for everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na state picture 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 speaking about hundreds of thousands possibly Millions think of 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 but it would definitely 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 check out them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business pick to primary separate savings account there are businesses out there doing precisely this for specific nations and I have actually operated in an organization or many businesses doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not have to and anyone that's managing 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 quantity that we are I think lots of reasons one is it's the requirement I think people have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes 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 the people have actually adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I believe this is a procedure that needs looking at it requires changing however eventually individuals are extremely stuck with what they're familiar
with right um modification is a tough thing all of us don't like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping several savings account however there's a huge amount of complexity opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is substantial but I think the honest answer is modification um people have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or two there is a lot to track and this technique does pose a number of challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.
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