Find out more about Papaya Global Payroll Commercial ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and trusted method of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to global workers despite the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages providers in every country, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment costs distributed per area, overall employment expenses per cycle and far more.
environments around the world I provided leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business customers and solutions in addition to serving as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the provider side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of 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 currently simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very bleak and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a troublesome task into a strategic property.
Handling payroll globally is a daunting job due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and services contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing disparities and inadequacies. Despite residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to supply insights and services to simplify and optimize international 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 Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide services have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is definitely crucial however all over 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 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 definitely essential and technology is allowing us to type of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm constantly amazed when individuals state I've split 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 a market accept that why our payroll and payments so typically 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's increasingly more advantages being organ or being used by businesses throughout the world so again you're just seeking to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single biggest liability that any business has from an expense perspective from an impact perspective on workers it is definitely 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 have to be done right it has the greatest damaging impact on individuals's wellness and many other factors if people aren't paid uh I have actually constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this sort of webinar has 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 ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment solution is an excellent first step um providing an end-to-end payroll solution for your staff members internationally once again I believe is another substantial um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of companies and reducing the number of tools platforms and savings account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow 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 also so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and type of try to get back to everyone so proceeding look why do business select to primary different checking account there are businesses out there doing exactly this for particular countries and I've worked in a business or numerous organizations doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for anybody where we don't need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I believe people have got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires looking at it requires changing but ultimately people are extremely stuck to what they recognize
with ideal um modification is a hard thing we all don't like modification um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining numerous bank accounts but there's a substantial amount of complexity chooses establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial however I think the sincere response is change um individuals have not been able to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually always 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 could nearly be identified to be the next Century or so there is a lot to monitor and this technique does pose a number of obstacles um so Johnny might you inform 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 handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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