Find out more about Papaya Global Database ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide workers despite the number of employees in the company. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local benefits providers in every nation, produce local accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR include numerous functions such as keeping an eye on getaway time, guaranteeing compliance, facilitating the process of inviting new workers and bidding goodbye to leaving ones, providing a protected online platform for keeping workers' documents, and supplying assistance for work allow treatments in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment costs dispersed per location, total work costs per cycle and much more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Business clients and solutions as well as serving as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. 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 a satisfaction to meet 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 options for the past 7 years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of different functions on the company side and also on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains 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 very bleak and I want I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll also review a recap which needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and handling them becomes increasingly more complex Global companies are seeking to find Solutions and brand-new methods to improve processes especially from a payroll and cross-border payment standpoint many organizations preserve separate checking account just for payroll while some have several accounts in different countries does it make sense for companies to keep different checking account in some cases in various countries it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business streamline the episode complex processes of
Making sure precise, efficient, and timely payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, find out how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can change them from a challenging job into a strategic possession.
Managing payroll internationally is a complicated task due to various regulations, compliance requirements, information security issues, and banking rules. The sheer number of workers and organizations contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and a lack of integration, resulting in disparities and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to provide insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service spends on global payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of international businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is delivered to the incorrect place the average cost of a worldwide 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 do not run smoothly if they depend on the necessary several processes 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 challenges organization face when they're paying to workers or otherwise that's a good concern I always throw this back and say what is it what does not need to be included ideal and what does
it need to be considered there's differing 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 capabilities 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 consumer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 definitely fundamental and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to add to kind of the level of complexity there's increasingly more benefits being organ or being used by services throughout the world so once again you're simply aiming to add more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from an expense perspective from an effect viewpoint on employees it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental effect on individuals's wellness and lots of other aspects if people aren't paid uh I've always been impressed coming into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all hear about it when it fails 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment service is an excellent first step um supplying an end-to-end payroll solution for your employees globally again I think is another substantial um process once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely key to success success of businesses and reducing the variety of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of 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 have not gone rather where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow 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 everybody that's involved in those processes and also so picture 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 people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine 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 a fascinating task attempting to clean up all those up for sure oh definitely I can't imagine 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 really see what was going on and sort of try to get back to everybody so carrying on look why do business choose to primary different checking account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of organizations 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 developing extra work for anybody where we do not have to and anybody that's managing that process 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 many factors one is it's the standard I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have actually adopted 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 type of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs changing but ultimately people are really stuck with what they're familiar
with right um change is a hard thing all of us don't like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping numerous savings account however there's a big quantity of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is big however I think the honest response is modification um individuals have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could almost be figured out to be the next Century or so there is a lot to keep an eye on and this technique does position a number of challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply 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 International workers you should have a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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