Find out more about Papaya Global Payroll Operations ... 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 gotten a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and reliable technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Staff member Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to international employees regardless of the number of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages companies in every nation, produce regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total employment costs dispersed per location, overall work expenses per cycle and a lot more.
Globally, I have demonstrated management and tactical proficiency in assisting large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of various roles on the service provider side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 raining here it's extremely 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 taking a look at the challenge years of handling International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a wrap-up which ought to leave his time at the very really 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 International labor forces end up being a growing number of common and managing them ends up being increasingly more intricate International companies are seeking to find Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment perspective lots of companies preserve separate checking account just for payroll while some have several accounts in various countries does it make sense for companies to preserve separate checking account often in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies streamline the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll expenses to optimize working capital, and find how improving global payroll payments can change them from a burdensome task into a strategic possession.
Handling payroll worldwide is a daunting task due to different guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and a lack of combination, resulting in disparities and inadequacies. Regardless of residing in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to provide insights and solutions to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of global businesses have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be included best and what does
it need 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 have to pay from the client's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to kind of move on with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often 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 likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the settlement landscape is ending up being increasingly intricate. Companies are continually introducing new advantages and payment alternatives, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's highly advanced period, there's no validation for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, need to be processed properly and on time. Even small delays can negatively affect employees' wellness and have significant consequences. Therefore, it's critical to focus on precise and timely payments.
payroll group get um so I'm uncertain anybody on this kind of webinar has been told 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 fails everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a fantastic primary step um providing an end-to-end payroll solution for your workers internationally once again I think is another substantial um procedure again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of businesses and lowering the variety of tools platforms and checking account they require for their Global 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 ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial a role 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 everybody that's associated with those processes and likewise so think of sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture 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 but it would absolutely be an interesting task trying to clean up all those up for sure oh definitely 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 really see what was going on and kind of shot to get back to everyone so proceeding appearance why do business pick to main different savings account there are organizations out there doing exactly this for specific nations and I have actually operated in a business or numerous companies doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anyone that's dealing with that process 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 numerous factors one is it's the requirement I think individuals have got so used to we need a new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering but eventually individuals are really stuck with what they recognize
with best um modification is a difficult thing all of us do not like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping numerous bank accounts however there's a huge quantity of intricacy goes with establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the complexity is big but I believe the sincere answer is modification um individuals have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is understanding 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 taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this method does present several difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I simply did you switched our Enterprise 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 employees you deserve a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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