Find out more about Papaya Global Payroll Promo Code ... 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 different Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and trusted technique of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Worker Portal offers employees with the ability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to international employees no matter the number of employees in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every nation, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment costs distributed per location, total employment costs per cycle and much more.
Internationally, I have demonstrated leadership and tactical knowledge in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately 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 currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really very gloomy and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies keep separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly useful for global companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a range of factors most importantly guidelines compliance information security and banking guidelines then there are the large numbers they add more intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or very really fundamental there's no real consistency structure we're residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company spends on international payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide services have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors poorly communicated hires and terminations in addition to absence management and system setups and after that when you round all of it off and the information is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they rely on the required several procedures 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 paying to workers or otherwise that's a good question I always toss this back and state what is it what doesn't need to be consisted of right and what does
it need to be thought about there's differing 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 abilities 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 client's own in-country account so there's complexity any place you look best eventually building a knowledge base is definitely critical however everywhere 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 kind of link 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 sort of progress with that it also also to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work better together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to kind of the level of intricacy there's increasingly more benefits being organ or being offered by services throughout the world so once again you're simply wanting to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real obstacles or real difficult sort of pay uses to play to pay people I think yeah I mean over the last well yeah a number of decades I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments works 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 however 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 require to create additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any organization has from a cost perspective from an impact viewpoint on staff members it is definitely important 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 most significant destructive impact on individuals's wellness and many other elements if individuals aren't paid uh I've always been astonished entering this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just see when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment option is a terrific preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and savings account necessary for international payroll are crucial factors in achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as prepared. Eventually, we do not do it for the thankfulness.
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 easy as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean 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 need days of the week to try to check out them and in fact see what was going on and type of shot to return to everybody so proceeding look why do business select to primary separate checking account there are businesses out there doing exactly this for particular countries and I've worked in an organization or numerous companies doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we do not need to and anybody that's managing 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 amount that we are I believe numerous reasons one is it's the requirement I believe people have got so used to we require a new bank account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement 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 ways um to to sort of do it so I think there's a range I believe this is a process that requires looking at it needs changing but ultimately individuals are very stuck with what they recognize
with right um modification is a tough thing all of us don't like change um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining numerous checking account but there's a substantial amount of complexity goes with setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is big but I believe the truthful response is modification um individuals have not had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually 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 understand what could practically be determined to be the next Century or so there is a lot to track and this approach does position numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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