Find out more about Papaya Global Hk ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and reputable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies staff members with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to international employees regardless of the variety of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work expenses distributed per place, total employment costs per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and solutions as well as serving as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to meet you and thank you for your valuable 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 focused on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different roles on the supplier side and also on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody 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 quite 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 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 drizzling here it's extremely very bleak 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 challenge years of handling Worldwide payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise discuss a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more typical and handling them ends up being more and more complex International organizations are aiming to discover Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment viewpoint many companies keep separate savings account just for payroll while some have several accounts in various nations does it make sense for companies to keep separate checking account often in various nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies enhance the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging task into a strategic asset.
Handling payroll internationally is a daunting task due to numerous regulations, compliance requirements, data security issues, and banking rules. The sheer variety of employees and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and an absence of integration, resulting in disparities and inefficiencies. In spite of living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to offer insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in international payroll the less of a picture they see a lack of visibility also extends to payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide businesses have revealed that they do not 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 bad HCM data information entry errors badly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to staff members or otherwise that's a good concern I always toss this back and say what is it what doesn't require 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 country there's payment time frames there's payment abilities 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 customer's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they resemble incredibly payments no if however some infants 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to sort of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the settlement landscape is becoming significantly detailed. Organizations are continuously presenting new advantages and payment alternatives, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to hold true. In today's highly innovative era, there's no validation for preserving cumbersome procedures. Payroll, the company's biggest expenditure, should be processed properly and on time. Even small delays can negatively affect workers' well-being and have significant effects. Therefore, it's vital to focus on accurate and timely payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only notice when things fail. However, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. For that reason, it is vital to guarantee that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a terrific preliminary action towards providing a thorough payroll option for staff members worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and savings account essential for international payroll are essential consider achieving service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we know how how important a function 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 everybody that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everyone so moving on look why do business select to primary separate savings account there are organizations out there doing exactly this for particular nations and I have actually operated in a business or lots of organizations doing precisely that I can state it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not developing additional work for anyone where we do not have to and anyone that's managing 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 numerous reasons one is it's the standard I believe people have got so utilized to we need a new checking 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 standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a process that requires looking at it needs altering however eventually people are really stuck with what they recognize
with right um change is a difficult thing we all do not like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having preserving several checking account however there's a huge quantity of intricacy chooses setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is huge but I believe the honest answer is change um people haven't had the ability to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this method does pose several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I recently made a modification to our Enterprise 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 acquired another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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