Find out more about Papaya Global Payroll Funding ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and trustworthy method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies employees with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists companies offer competitive advantages plans to global employees regardless of the variety of employees in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, develop regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, total employment expenses dispersed per area, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise clients and services as well as serving 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 consisted of on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and labor force 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, despite your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. 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 obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everyone another number 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 quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually 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 really gloomy and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also go over a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more typical and managing them becomes more and more complicated International companies are looking to discover Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment viewpoint lots of organizations maintain separate checking account just for payroll while some have numerous accounts in various nations does it make sense for companies to maintain different savings account sometimes in various countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business streamline the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a difficult task into a strategic possession.
Handling payroll internationally is a daunting task due to numerous regulations, compliance requirements, information security issues, and banking rules. The sheer variety of employees and organizations contributes to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, leading to disparities and inadequacies. In spite of living in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and options to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the information is delivered to the wrong location the average expense 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 do not run smoothly if they depend 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 challenges service face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's intricacy wherever you look best eventually constructing a knowledge base is definitely important however all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to sort of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to contribute to kind of the level of complexity there's a growing number of advantages being organ or being provided by organizations throughout the world so again you're simply looking to include more and more payments to this currently intricate 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 challenges or genuine challenging type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information 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 always require to be the case you understand long gone are the times where we need to produce additional handoffs at the same times that we run in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single biggest liability that any service has from a cost viewpoint from an effect viewpoint on staff members it is definitely important that it's done correctly 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 biggest harmful impact on people's wellness and many other aspects if individuals aren't paid uh I have actually always been surprised entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll option for your workers globally once again I believe is another huge um procedure again aligning and ensuring you have standardization International processes all of those things are definitely crucial to success success of organizations and minimizing the variety of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
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 simple as possible for everyone that's involved in those procedures and also so picture sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't picture 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 sort of try to return to everybody so proceeding appearance why do companies pick to primary separate savings account there are services out there doing precisely this for particular countries and I have actually operated in a company or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for anybody where we do not have to and any person that's dealing with 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 amount that we are I believe many factors one is it's the requirement I think people have got so utilized to we require a brand-new checking 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 simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires altering however ultimately people are really stuck to what they're familiar
with ideal um modification is a difficult thing all of us don't like change um so I think it's simply kind of moving away 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 bank accounts however there's a big amount of intricacy goes with establishing a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is big however I think the sincere answer is change um individuals have not had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to monitor and this technique does position a number of challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just 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 Worldwide staff members you should have a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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