Find out more about Papaya Global Pricing ... 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 obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reliable method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to international employees regardless of the number of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, develop regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses distributed per location, total work expenses per cycle and a lot more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and solutions as well as serving as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly 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 very really gloomy and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a recap and that ought to leave his time at the really 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 Worldwide labor forces end up being more and more common and managing them ends up being more and more complicated International companies are aiming to find Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment viewpoint lots of companies preserve different checking account just for payroll while some have several accounts in different countries does it make good sense for business to keep separate checking account sometimes in different countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies enhance the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Workforce is presently three 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 consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's often a frustrating variety of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or really really basic there's no genuine consistency structure we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of global companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the information is delivered to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they rely on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're paying to staff members or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't need to be included ideal 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 consumer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to type of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 procedure it's the point of data collection all the way through to paying people wherever they are however likewise 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 progressively elaborate. Companies are continuously presenting brand-new advantages and payment options, which adds to the overall complexity. Large corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my opinion, this does not need to hold true. In today's technically sophisticated age, there's no reason for keeping cumbersome procedures. Payroll, the business's greatest expenditure, must be processed properly and on time. Even slight delays can adversely affect workers' wellness and have significant repercussions. For that reason, it's crucial to prioritize accurate and timely payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only observe when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first Global Payments very first payroll payment option is a fantastic initial action towards offering a thorough payroll solution for staff members worldwide. Standardization, global processes, and lowering the number of tools, platforms, and checking account needed for international payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we know how how important 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 everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean up all those up for sure oh definitely I can't envision 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 in fact see what was going on and type of shot to get back to everybody so carrying on appearance why do business choose to primary separate bank accounts there are businesses out there doing precisely this for specific nations and I have actually worked in a company or many businesses doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anyone that's dealing with that procedure 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 believe many factors one is it's the requirement I believe people have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a range I think this is a procedure that needs looking at it requires changing however eventually people are extremely stuck to what they're familiar
with best um change is a difficult thing we all do not like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining several savings account however there's a substantial quantity of complexity goes with establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is huge however I believe the sincere response is change um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on 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 technique does present several difficulties um so Johnny could you inform us about those challenges 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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