Find out more about Papaya Global Hosting ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and trusted approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to global workers regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every country, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment expenses dispersed per location, overall work costs per cycle and a lot more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Business customers and options as well as functioning as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. 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 organization. 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 complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different functions on the supplier side and likewise on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly 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 raining here it's really very bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise review a wrap-up and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and handling them becomes increasingly more intricate Worldwide companies are looking to find Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment standpoint numerous organizations keep different checking account just for payroll while some have several accounts in various countries does it make good sense for business to keep different savings account sometimes in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies improve the episode complex procedures of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most importantly regulations compliance information security and banking rules then there are the large numbers they include more complexity the global Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll model there's often a frustrating variety of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really really fundamental there's no genuine consistency structure we're residing in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every 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 say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a service invests in global payroll the less of an image they see a lack of presence also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international organizations 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 errors are because of time reporting bad HCM data data entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the required several processes 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 business face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what does not need to be consisted of right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the consumer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is definitely critical however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to type of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always surprised when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not 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 process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so once again you're just aiming to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or real challenging kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams 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 viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any service has from a cost point of view from an impact perspective on staff members it is absolutely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging result on individuals's wellness and numerous other aspects if people aren't paid uh I've always been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. For that reason, it is essential to make sure that jobs like Wi-Fi International and other crucial matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a fantastic preliminary step towards providing a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and bank accounts essential for worldwide payroll are key consider accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how important a function 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 associated with those procedures and also so imagine sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying to clean up 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 need days of the week to attempt to check out them and really see what was going on and type of shot to get back to everybody so proceeding look why do companies choose to primary separate savings account there are services out there doing precisely this for specific nations and I've worked in a company or lots of organizations doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not have to and anyone that's dealing with 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 think lots of reasons one is it's the standard I believe individuals have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require 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 requirement and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it needs changing but ultimately people are very stuck to what they recognize
with best um modification is a tough thing all of us do not like change um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having maintaining several bank accounts however there's a substantial quantity of intricacy goes with setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is huge however I think the truthful response is change um individuals haven't been able to alter or haven't 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 understanding you know and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or so there is a lot to monitor and this approach does present numerous challenges um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just did you changed 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 Global workers you are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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