Find out more about Is Papaya Global Legit ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and dependable technique of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Website offers staff members with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to international employees regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every nation, produce local accounts and have a minimum number of staff members.
The HR capabilities supplied by International HR encompass numerous functions such as monitoring vacation time, making sure compliance, helping with the procedure of inviting new employees and bidding goodbye to departing ones, providing a safe online platform for keeping workers' documents, and providing support for work permit treatments in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall employment costs distributed per area, overall employment costs per cycle and much more.
environments across the globe I offered management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and solutions in addition to acting as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment to meet 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 industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really dreary and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most significantly regulations compliance data security and banking rules then there are the large numbers they add further complexity 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 people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll design there's often an overwhelming variety of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely really standard there's no genuine consistency structure we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of exposure 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 global organizations have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors inadequately communicated hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what does not need to be consisted of right and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of move forward with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always surprised when people state I have actually 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 calculation 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 procedure it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on wellness and the compensation landscape is becoming significantly intricate. Services are constantly presenting brand-new advantages and payment alternatives, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't need to be the case. In today's technically innovative age, there's no justification for keeping cumbersome treatments. Payroll, the company's most significant expenditure, should be processed correctly and on time. Even small hold-ups can adversely impact workers' well-being and have far-reaching effects. For that reason, it's crucial to focus on precise and timely payments.
payroll team get um so I'm uncertain anybody on this sort of webinar has actually 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 employees or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment service is a terrific primary step um providing an end-to-end payroll solution for your staff members internationally again I believe is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of businesses and reducing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in regards to 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 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 everybody that's involved in those processes and also so imagine sorry I'm just I was simply gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to get back to everyone so carrying on appearance why do companies pick to main separate bank accounts there are organizations out there doing exactly this for particular nations and I have actually worked in a service or numerous organizations doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for any person where we don't need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and rightly 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 just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a process that needs looking at it requires altering but eventually people are very stuck to what they recognize
with right um modification is a hard thing we all do not like change um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having keeping numerous checking account however there's a huge quantity of intricacy goes with establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is huge however I believe the honest answer is modification um individuals haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this approach does position numerous difficulties um so Johnny could you inform us about those challenges yeah of course 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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