Find out more about Papaya Global Help Centre ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to global workers no matter the variety of workers in the business. 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 advantages providers in every country, create regional accounts and have a minimum number of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total employment costs distributed per location, overall employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business managing and building external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending upon where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of various roles on the company side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind 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 extremely really bleak and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic property uh we'll also go over a recap and that needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more common and handling them ends up being increasingly more intricate International organizations are looking to find Solutions and new ways to enhance processes especially from a payroll and cross-border payment standpoint numerous organizations maintain different savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to keep separate checking account sometimes in various countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business enhance the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex difficulty for services running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to enhance working capital, and find how improving worldwide payroll payments can change them from a difficult task into a strategic asset.
Managing payroll worldwide is an overwhelming task due to various policies, compliance requirements, data security issues, and banking guidelines. The sheer number of workers and businesses adds to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of integration, resulting in disparities and inadequacies. Regardless of residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and options to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide businesses have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to staff members or otherwise that's an excellent question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is definitely important however all over you look with payroll payment they resemble super payments no if however 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 fundamental and technology is allowing us to type of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely important that payroll and finance groups work more detailed together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by organizations across the world so again you're just seeking to include a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real difficulties or genuine tough kind of pay uses to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any company has from a cost perspective from an effect perspective on employees it is definitely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on individuals's wellness and many other elements if individuals aren't paid uh I have actually constantly been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle we all find out about it when it goes wrong everybody 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 things is absolutely important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a fantastic primary step um offering an end-to-end payroll option for your workers internationally once again I think is another big um process once again aligning and guaranteeing you have standardization International processes all of those things are definitely essential to success success of organizations and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too could not 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 countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how important a role 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision 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 actually see what was going on and sort of shot to return to everybody so carrying on look why do companies select to main different checking account there are organizations out there doing precisely this for particular nations and I have actually operated in an organization or many services doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't need to and anyone that's managing 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 amount that we are I think many factors one is it's the requirement I think individuals have got so used to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a process that requires looking at it requires changing but ultimately individuals are very stuck with what they're familiar
with best um modification is a challenging thing all of us don't like modification um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping several savings account however there's a big amount of intricacy goes with establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific people so the complexity is substantial but I believe the honest response is modification um individuals have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to alter but 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 know what could practically be figured out to be the next Century or so there is a lot to keep track of and this technique does present a number of obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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