Find out more about Papaya Global Activation Key ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and reliable technique of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to international workers regardless of the number of employees in the business. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local benefits suppliers in every country, produce local accounts and have a minimum number of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment expenses distributed per location, total employment costs per cycle and far more.
environments around the world I offered management and method 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 structure external relationships supporting Business customers and solutions in addition to acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a pleasure to satisfy 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 concentrated on payroll and payment options for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I've sort of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really dreary and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business preserve separate
Virtual payroll accounts are an option to traditional 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 keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines 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 internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome job into a strategic property.
Managing payroll internationally is a difficult job due to various regulations, compliance requirements, data security issues, and banking guidelines. The sheer variety of employees and organizations adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, causing disparities and inadequacies. Regardless of residing in an age of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleepless nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see a lack of presence also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction almost half of global companies have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors poorly interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the essential several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent question I always toss this back and state 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 country there's payment amount of time 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 intricacy wherever you look right ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you 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 fundamental and innovation is permitting us to sort of progress with that it likewise as well to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say I have actually split 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 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the settlement landscape is becoming significantly elaborate. Organizations are continually introducing new advantages and payment choices, which adds to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated period, there's no reason for keeping cumbersome procedures. Payroll, the business's most significant expenditure, should be processed properly and on time. Even minor delays can adversely affect workers' well-being and have significant consequences. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done properly so leveraging the first International Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll service for your employees globally once again I think is another substantial um procedure once again aligning and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of businesses and minimizing the number of tools platforms and checking account they need for their Worldwide 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've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean up all those up for sure oh absolutely 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 really see what was going on and type of shot to return to everyone so carrying on appearance why do companies select to primary separate bank accounts there are companies out there doing precisely this for specific countries and I've operated in a company or many services doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not have to and anybody 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 factors one is it's the standard I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs taking a look at it needs altering however eventually individuals are extremely stuck to what they're familiar
with right um change is a challenging thing all of us don't like modification um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having preserving multiple checking account however there's a big amount of complexity chooses establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is huge but I believe the truthful response is change um people haven't had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or so there is a lot to monitor and this method does pose several difficulties um so Johnny might you inform us about those challenges yeah naturally 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 manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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