Find out more about Papaya Global Weekly 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 gotten a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and trustworthy approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and specialists
The Worker Website supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to global employees regardless of the number of staff members in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every nation, produce regional accounts and have a minimum variety of staff members.
The HR abilities offered by Global HR incorporate numerous functions such as keeping track of trip time, guaranteeing compliance, helping with the process of welcoming brand-new staff members and bidding farewell to leaving ones, using a secure online platform for keeping employees' documents, and providing support for work allow procedures in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall work expenses dispersed per area, overall employment expenses per cycle and far more.
Worldwide, I have shown leadership and strategic competence in guiding massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for supervising payroll methods, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, 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 services for the past seven years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the provider side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well among 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 fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very uninspiring and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic 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.
Making sure precise, effective, and timely payroll payments is a complex challenge for companies running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a difficult task into a tactical property.
Managing payroll worldwide is a difficult task due to various guidelines, compliance requirements, information security issues, and banking rules. The sheer number of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual processes, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of residing in an age of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and options to simplify and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of international companies have 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 due to time reporting bad HCM information data entry errors badly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the data is delivered to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't 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 requires to be factored into the challenges company 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 right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you need 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 best ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to type of move on with that it also too to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work better together than ever um I'm always amazed when individuals state 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 split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to add to type of the level of complexity there's more and more benefits being organ or being offered by services throughout the world so again you're simply wanting to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or real tough sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of years I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from a cost perspective from an effect viewpoint on workers it is definitely crucial that it's done properly and on time so what we mean 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 damaging effect on people's wellness and numerous other factors if people aren't paid uh I have actually constantly been amazed entering into this Market kind of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just see when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other crucial matters are done properly. Utilizing the first Global Payments first payroll payment service is an excellent preliminary step towards providing a comprehensive payroll solution for workers worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and bank accounts needed for global payroll are essential consider attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand 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 procedures and likewise so think of sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting 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 try to look through them and actually see what was going on and type of shot to return to everybody so proceeding appearance why do companies choose to primary separate bank accounts there are organizations out there doing exactly this for particular nations and I've worked in an organization or lots of companies doing precisely that I can say it does not always feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for anybody where we do not have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing but eventually individuals are extremely stuck to what they recognize
with ideal um modification is a tough thing all of us don't like change um so I think it's simply 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 undoubtedly the benefits of having keeping several bank accounts however there's a substantial quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for private people so the intricacy is substantial but I think the truthful response is change um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or two there is a lot to track and this approach does present a number of challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety 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 workers you are worthy of a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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