Find out more about Papaya Global (Hk) Limited ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and reputable technique of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Staff member Website
Workers have access to an Employee Portal where they can view their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to international workers regardless of the number of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, develop local accounts and have a minimum number of employees.
The HR abilities offered by Global HR encompass various functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the process of inviting new workers and bidding farewell to leaving ones, using a protected online platform for keeping workers' files, and offering assistance for work permit treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall employment costs dispersed per area, overall work expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic knowledge in guiding large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a variety of different functions on the supplier side and also on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually 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 really really bleak and I wish I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll also go over a wrap-up which should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of typical and handling them ends up being a growing number of intricate International organizations are aiming to discover Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment perspective lots of organizations preserve separate checking account just for payroll while some have several accounts in various countries does it make sense for companies to preserve different bank accounts often in different countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business simplify the episode complex processes of
Making sure accurate, effective, and prompt payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and find how improving global payroll payments can change them from a difficult task into a tactical possession.
Managing payroll internationally is a difficult task due to different policies, compliance requirements, data security concerns, and banking rules. The sheer number of staff members and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, resulting in inconsistencies and inadequacies. Regardless of living in an age of technological developments, 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 supply insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a business invests in global payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of international businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors poorly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is delivered to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require 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 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 customer's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is definitely critical but everywhere 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 look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to sort of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely vital that payroll and finance groups work better together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Services are constantly presenting new advantages and payment options, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's highly sophisticated period, there's no validation for keeping troublesome treatments. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even small delays can negatively affect employees' wellness and have far-reaching consequences. For that reason, it's vital to focus on precise and timely payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. Therefore, it is important to guarantee that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment option is a fantastic initial step towards providing a comprehensive payroll service for staff members worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we know 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 easy as possible for everyone that's associated with those procedures and also so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and sort of try to get back to everybody so carrying on look why do business choose to primary separate bank accounts there are organizations out there doing exactly this for specific countries and I've operated in a business or lots of businesses doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not intentionally doing that we're not producing additional work for anyone where we do not have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe lots of factors one is it's the requirement I think people have actually got so utilized to we require a new bank 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 standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other ways um to to sort 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 ultimately individuals are extremely stuck to what they recognize
with right um change is a challenging thing all of us don't like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having maintaining multiple checking account but there's a substantial amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is substantial but I think the truthful answer is change um people haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually always 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 know what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does present numerous challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner office with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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