Find out more about Papaya Global Headquarters ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive advantages packages to global workers no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits providers in every country, produce local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total employment costs dispersed per location, total work expenses per cycle and far more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and structure external relationships supporting Enterprise customers and services in addition to serving as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for the majority of prominent companies in the world we offer payroll payments and workforce management to all staff member types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of different functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everybody alright 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 sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I really 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 very bleak 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 looking at the challenge years of handling International payroll why companies maintain separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic possession 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 precisely efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most importantly regulations compliance data security and banking guidelines then there are the sheer numbers they include further intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll model there's often an overwhelming number of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or very extremely fundamental there's no genuine consistency structure we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each 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 say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a photo they see a lack of visibility also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide services have actually revealed that they do not have the level of standardization they require in their procedures or desire 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 configurations and then when you round all of it off and the data is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they rely on the essential several processes 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 obstacles business face when they're paying to workers or otherwise that's a great concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed 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 does not operate in the payroll profession would they split 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 ultimately 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 also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Companies are continuously presenting brand-new benefits and payment choices, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically sophisticated era, there's no reason for maintaining cumbersome procedures. Payroll, the business's most significant expense, must be processed correctly and on time. Even slight hold-ups can adversely impact employees' well-being and have far-reaching consequences. Therefore, it's crucial to prioritize precise and prompt payments.
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. Therefore, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first Global Payments very first payroll payment solution is a fantastic preliminary step towards supplying a comprehensive payroll solution for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts necessary for worldwide payroll are key consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how essential 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 involved in those processes and likewise so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and type of shot to return to everyone so proceeding look why do companies choose to primary separate bank accounts there are businesses out there doing precisely this for particular nations and I have actually operated in an organization or many services doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it needs changing however ultimately people are very stuck with what they recognize
with best um change is a difficult thing we all don't like modification um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving several bank accounts but there's a substantial quantity of complexity chooses establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private people so the complexity is huge however I think the honest answer is change um people haven't had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep track of and this method does present numerous challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety 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 seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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