Find out more about Papaya Global Czech Republic (Czechia) ... We now have the capability to handle 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 specifically committed to handling payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 employees worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Employee Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to worldwide workers despite the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every country, produce regional accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR encompass numerous functions such as monitoring holiday time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding farewell to departing ones, using a safe online platform for storing workers' files, and supplying assistance for work permit procedures in case your employees need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall work costs distributed per place, total employment expenses per cycle and far more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business managing and building external relationships supporting Enterprise customers and solutions as well as acting as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've sort of had a variety of different functions on the company side and likewise on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely bleak and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that must leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and managing them ends up being increasingly more intricate Global companies are seeking to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment standpoint many companies preserve different bank account just for payroll while some have several accounts in various countries does it make sense for business to keep separate checking account in some cases in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they add further complexity the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll design there's often a frustrating number of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or really extremely basic there's no real consistency framework we're residing in an era of tech however payroll has been slow 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 an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in global payroll the less of a picture they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of global organizations have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors improperly interacted hires and terminations in addition to 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 worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't need to be included right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is definitely vital but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 absolutely fundamental and innovation is enabling us to kind of move on with that it also as well to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing groups work closer 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 anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to contribute to type of the level of complexity there's increasingly more benefits being organ or being offered by businesses across the world so again you're simply wanting to include a growing number of 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 challenges or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single biggest liability that any company has from an expense viewpoint from an effect perspective on employees it is absolutely crucial 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 detrimental effect on people's well-being and numerous other aspects if individuals aren't paid uh I've always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout 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 crucial that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment solution is an excellent initial step um supplying an end-to-end payroll solution for your workers worldwide again I think is another substantial um process again lining up and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of companies and lowering the number of tools platforms and checking account they need for their International 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've never had a hundred countless 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 complaints where things haven't gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we know how how important a role 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 simple as possible for everyone that's associated with those procedures and also so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so moving on appearance why do business choose to main different bank accounts there are services out there doing precisely this for particular nations and I have actually worked in an organization or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for any person where we do not 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 lots of factors one is it's the standard I believe individuals have got so utilized to we need a new checking account we open an entity and appropriately 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 standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing however eventually people are extremely stuck with what they recognize
with ideal um change is a difficult thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping multiple bank accounts but there's a huge amount of complexity goes with establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the intricacy is huge but I think the sincere answer is change um individuals haven't had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be determined to be the next Century or two there is a lot to monitor and this method does posture numerous obstacles um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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