Find out more about Papaya Global Quarterly Payroll ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Website supplies workers with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total work expenses distributed per place, total employment expenses per cycle and much more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business handling and building external relationships supporting Business clients and services in addition to acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
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 workforce management services to workers 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, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really uninspiring and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, 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 go over why they are ending up being a tactical possession for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can transform them from a challenging job into a strategic asset.
Managing payroll worldwide is an overwhelming task due to different policies, compliance requirements, data security issues, and banking rules. The sheer variety of workers and services adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual processes, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of living in an age of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and options to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they rely on the needed numerous 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 difficulties organization face when they're paying to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be consisted of best and what does
it require 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 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 client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 essential and innovation is enabling us to sort of progress with that it likewise as well to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly impressed when individuals say I have actually divided 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 split the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information 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 live in and well-being being increasingly more important to contribute to kind of the level of complexity there's increasingly more advantages being organ or being used by businesses throughout the world so again you're simply seeking to add a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or genuine tough kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of decades I would definitely state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just 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 era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any service has from an expense viewpoint from an impact perspective on employees it is absolutely crucial 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 destructive impact on people's wellness and numerous other elements if people aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's viewed externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Utilizing the very first International Payments first payroll payment option is a fantastic initial action towards providing a detailed payroll solution for workers worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and bank accounts required for international payroll are essential consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway we understand how how essential 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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying 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 kind of try to return to everyone so carrying on appearance why do companies pick to primary different savings account there are services out there doing exactly this for specific countries and I've operated in a business or numerous businesses doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing additional work for any person where we do not have to and anybody that's dealing with that process 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 numerous factors one is it's the requirement I believe people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs altering but eventually people are very stuck with what they're familiar
with ideal um modification is a tough thing all of us don't like change um so I think 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 things um I understand undoubtedly the advantages of having maintaining numerous bank accounts but there's a substantial amount of intricacy goes with establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big however I think the honest answer is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think 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 real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century approximately there is a lot to track and this technique does posture several challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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