Find out more about Papaya Global Reviews ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to worldwide staff members despite the number of staff members in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, produce local accounts and have a minimum variety of employees.
The HR abilities supplied by International HR encompass numerous functions such as keeping track of getaway time, ensuring compliance, helping with the procedure of welcoming new employees and bidding goodbye to leaving ones, offering a secure online platform for storing workers' files, and offering support for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses distributed per location, overall work costs per cycle and far more.
Internationally, I have actually demonstrated leadership and tactical know-how in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My role involves managing and developing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to fulfill 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 decade of experience in the payments industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of various functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join all of us 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 everyone is um it's nice to to sort of like see where everyone originates from and I actually 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 dreary and I want 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 difficulty years of handling Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to enhance working capital, and find how simplifying global payroll payments can change them from a burdensome task into a tactical possession.
Managing payroll globally is an overwhelming task due to different policies, compliance requirements, information security concerns, and banking guidelines. The large variety of employees and organizations adds to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, data silos, and a lack of integration, leading to disparities and inefficiencies. In spite of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar goals to offer insights and options to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of international businesses have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes badly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the wrong place the average cost of a worldwide 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 count on the needed several 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 company face when they're paying to employees or otherwise that's a great concern I always toss this back and state what is it what does not need to be included ideal and what does
it need 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 abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and finance teams work closer together than ever um I'm always impressed when individuals say I've split 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 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the compensation landscape is becoming increasingly elaborate. Companies are continuously presenting brand-new benefits and payment options, which contributes to the overall complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technologically innovative period, there's no justification for keeping troublesome procedures. Payroll, the business's greatest expenditure, need to be processed correctly and on time. Even minor hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to focus on precise and timely payments.
payroll team get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment service is a fantastic primary step um providing an end-to-end payroll option for your employees globally once again I believe is another substantial um process once again aligning and ensuring you have standardization International procedures all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and checking account they need for their Global 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 have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyway 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 easy as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was just gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job 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 require days of the week to try to check out them and actually see what was going on and kind of shot to return to everybody so proceeding appearance why do business choose to primary separate checking account there are organizations out there doing exactly this for particular countries and I've operated in a company or numerous services doing exactly that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating extra work for anyone where we do not have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I believe this is a process that requires looking at it requires changing but eventually people are really stuck to what they recognize
with right um modification is a tough thing all of us do not like change 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 stuff um I understand clearly the advantages of having maintaining numerous bank accounts however there's a substantial amount of complexity chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is substantial however I believe the honest answer is change um people have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I simply did you changed our Business 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 Global workers you should have a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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