Find out more about Papaya Global How To Preview Payroll ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and trustworthy technique of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Employee Portal supplies staff members with the capability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to international staff members regardless of the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR incorporate numerous functions such as monitoring trip time, making sure compliance, assisting in the process of inviting new workers and bidding farewell to departing ones, using a protected online platform for saving workers' documents, and offering assistance for work allow treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall work expenses distributed per area, total employment costs per cycle and much more.
Globally, I have shown management and tactical know-how in directing massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to employees 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, no matter your place. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually sort of had a range of different roles on the provider side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody 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 definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really dreary and I want I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and managing them ends up being increasingly more intricate Worldwide companies are looking to discover Solutions and brand-new methods to enhance procedures specifically from a payroll and cross-border payment standpoint many organizations maintain separate bank account just for payroll while some have several accounts in various nations does it make sense for companies to maintain separate bank accounts often in various nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Ensuring precise, efficient, and timely payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to optimize working capital, and find how enhancing international payroll payments can change them from a difficult task into a tactical property.
Handling payroll globally is a complicated job due to different policies, compliance requirements, data security issues, and banking rules. The sheer number of staff members and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems often result in manual processes, data silos, and a lack of combination, resulting in disparities and inefficiencies. Despite living in a period of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to supply insights and solutions 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 services say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide organizations have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the essential several procedures 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 business face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what does not require to be consisted of best and what does
it require to be considered there's varying Bank details 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is definitely important however all over you look with payroll payment they resemble incredibly payments no if however some babies 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 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 also to contribute to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 data 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 well-being being a growing number of crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being used by businesses throughout the world so once again you're just seeking to include increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or real tough kind of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require 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 don't make them what they need to be in in an era 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 tough as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost viewpoint from an impact perspective on staff members it is absolutely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging impact on individuals's wellness and lots of other elements if individuals aren't paid uh I've always been surprised coming into this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just notice when things fail. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi International and other vital matters are done properly. Using the very first Global Payments first payroll payment service is an excellent preliminary step towards providing a thorough payroll solution for workers worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and checking account needed for global payroll are essential factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyway we know how how important 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 everybody that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of 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 envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and kind of shot to get back to everybody so carrying on appearance why do business select to main different bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or lots of services doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for any person where we don't have to and anyone that's managing 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 numerous reasons one is it's the requirement I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute 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 believe there's a range I believe this is a process that needs taking a look at it requires altering but ultimately individuals are really stuck with what they're familiar
with ideal um change is a challenging thing all of us do not like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping multiple checking account however there's a substantial quantity of complexity chooses establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is substantial however I believe the honest answer is modification um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century or two there is a lot to keep track of and this approach does posture several challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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