Find out more about Papaya Global Salary Maryland ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and reputable approach of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and specialists
The Employee Website offers workers with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages plans to international staff members despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional advantages companies in every country, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall work costs distributed per place, overall employment expenses per cycle and far more.
Globally, I have demonstrated management and strategic proficiency in directing massive populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of influential companies on the planet we offer payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon excellent night depending on where you are in the world it's lovely to fulfill 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 have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've type of had a range of different functions on the provider side and also on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly 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 really very dreary and I want 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 managing Worldwide payroll why business keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most notably policies compliance data security and banking rules then there are the large numbers they include more complexity the global Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's typically an overwhelming variety of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or extremely very fundamental there's no real consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of international organizations have actually revealed 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 because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're paying to workers or otherwise that's a good question I constantly throw this back and say what is it what does not need to be consisted of right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 anywhere you look right eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super 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 believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to type of move on with that it likewise also to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely essential that payroll and finance groups work closer together than ever um I'm constantly impressed when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being provided by businesses across the world so once again you're simply looking to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine difficulties or real challenging sort of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any company has from a cost perspective from an effect perspective on employees it is definitely 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 people's wellness and lots of other aspects if people aren't paid uh I have actually always been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things fail. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. For that reason, it is important to guarantee that jobs like Wi-Fi International and other important matters are done properly. Using the very first Global Payments first payroll payment service is a great initial action towards offering a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account necessary for international payroll are essential consider accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyway 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 easy as possible for everyone that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na say imagine 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 discussing numerous thousands possibly Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of try to get back to everyone so moving on look why do companies pick to main different bank accounts there are organizations out there doing exactly this for particular nations and I've worked in a business or many businesses doing precisely that I can say it does not always feel effective and it does develop more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think individuals have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted 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 ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it needs changing however ultimately people are very stuck with what they're familiar
with ideal um change is a hard thing we all don't like modification um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having preserving numerous savings account however there's a substantial amount of complexity opts for setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge but I believe the sincere answer is change um individuals haven't had the ability to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change however we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or so there is a lot to monitor and this approach does posture several difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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