Find out more about Papaya Global Payroll Us ... 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 obtained a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and reputable method of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll process, saving me a significant quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Employee Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide staff members no matter the number of employees in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every nation, produce local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall employment costs distributed per place, total employment costs per cycle and a lot more.
Internationally, I have actually shown leadership and tactical proficiency in assisting large-scale populations of over 100,000 staff members across 170 countries. Presently, I am responsible for managing payroll strategies, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for most prominent business worldwide we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good evening depending on where you remain in the world it's charming to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided 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 functions on the supplier side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting 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 everyone 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 raining here it's very really bleak and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business preserve different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they include more complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll design there's frequently a frustrating variety of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely very standard there's no genuine consistency structure we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides 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 also extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of international services have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the information is shipped to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they depend on the needed several processes 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 obstacles service face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be consisted of best and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 intricacy wherever you look ideal ultimately constructing a knowledge base is definitely critical however all over you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to sort of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I've divided 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 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
The modern-day world places a high value on wellness and the payment landscape is becoming progressively intricate. Services are continually presenting brand-new benefits and payment choices, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technologically sophisticated era, there's no validation for maintaining troublesome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight hold-ups can adversely impact staff members' well-being and have far-reaching repercussions. Therefore, it's crucial to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all become aware of 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 exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um providing an end-to-end payroll solution for your staff members worldwide once again I think is another substantial um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely key to success success of services and decreasing the variety of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how crucial a function it is which'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 everyone that's involved in those processes and likewise so envision sorry I'm simply I was just gon na state think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and sort of shot to get back to everyone so carrying on look why do companies select to main separate checking account there are businesses out there doing exactly this for particular nations and I have actually worked in a service or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating 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 think that we're doing that in in the in the amount that we are I think many factors one is it's the standard I believe people have got so utilized to we need a new savings 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 believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a process that requires taking a look at it needs changing but ultimately individuals are very stuck with what they're familiar
with ideal um modification is a tough thing we all don't like change um so I believe it's simply type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving numerous savings account but there's a huge amount of complexity goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big however I think the truthful response is change um individuals haven't been able to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this method does pose numerous difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I simply did you changed our Enterprise 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 employees you deserve a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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