Find out more about Papaya Global Ir Secure Mailbox Not Working ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trustworthy method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Worker Website
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to international workers regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, produce local accounts and have a minimum number of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall work costs dispersed per place, total employment expenses per cycle and a lot more.
environments around the world I offered management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Business customers and services along with functioning as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment 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 decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've sort of had a range of different functions on the company side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone 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 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 going our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also review a recap and that needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and managing them becomes increasingly more intricate International companies are wanting to discover Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment standpoint lots of organizations preserve separate bank account just for payroll while some have numerous accounts in various countries does it make good sense for companies to preserve separate checking account often in various countries it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business enhance the episode complex procedures of
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add additional complexity the worldwide Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the conventional payroll design there's typically a frustrating variety of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or very very fundamental there's no genuine consistency framework we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more a service spends on international payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors poorly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the incorrect place 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 don't run smoothly if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you need 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 eventually building a knowledge base is absolutely crucial but all over 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 take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to type of move on with that it also too to add to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance groups work better together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to kind of the level of intricacy there's more and more benefits being organ or being provided by companies throughout the world so again you're simply wanting to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would absolutely say that the bigger a service 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 groups feeding information into the next function as it were that's in fact handling the payment side of things but you understand 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 need to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost viewpoint from an effect perspective on staff members it is definitely crucial 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 detrimental effect on individuals's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type 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 eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everybody 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 likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is an excellent first step um supplying an end-to-end payroll solution for your staff members internationally once again I think is another substantial um process again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and decreasing the variety of tools platforms and bank accounts they require for their International 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 don't expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na say picture 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 discussing numerous thousands possibly Millions imagine getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of shot to return to everyone so carrying on look why do business select to primary different savings account there are services out there doing precisely this for specific nations and I've operated in a service or lots of services doing exactly that I can say it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't have to and anybody that's dealing with 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 believe lots of reasons one is it's the requirement I believe people have got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs changing however eventually individuals are very stuck with what they recognize
with ideal um change is a tough thing we all do not like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having preserving multiple checking account but there's a big amount of complexity chooses setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is huge but I believe the honest answer is change um individuals haven't been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or two there is a lot to monitor and this approach does present numerous difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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