Find out more about Papaya Global Not Updating ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a secure and dependable method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Staff member Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to worldwide employees despite the variety of staff members in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every nation, develop local accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR include various functions such as monitoring vacation time, making sure compliance, helping with the process of inviting brand-new staff members and bidding goodbye to departing ones, offering a safe online platform for keeping workers' documents, and providing support for work permit treatments in case your employees need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall employment costs dispersed per location, total work expenses per cycle and far more.
Globally, I have shown leadership and strategic knowledge in assisting massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, 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 services for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just 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 definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely bleak and I want I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll also review a wrap-up and that ought to leave his time at the very extremely 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 Global workforces become a growing number of common and managing them ends up being a growing number of complicated Worldwide companies are seeking to find Solutions and new methods to improve procedures particularly from a payroll and cross-border payment perspective many organizations maintain different bank account just for payroll while some have several accounts in different nations does it make good sense for business to preserve separate bank accounts sometimes in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most importantly guidelines compliance data security and banking rules then there are the large numbers they add additional complexity the worldwide Labor force is currently three and a half billion individuals 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 organizations and growing all doing their own thing all over the world in the standard payroll model there's frequently an overwhelming variety of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely very basic there's no real consistency framework we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide companies have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors badly interacted hires and terminations along with lack management and system setups and then when you round all of it off and the information is delivered to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they depend on the needed several processes 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 challenges business face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not require to be included best 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 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 complexity wherever you look best ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind 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 basic and innovation is permitting us to type of progress with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone 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 typically 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 any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on well-being and the settlement landscape is becoming progressively intricate. Businesses are continually introducing new benefits and payment options, which adds to the total complexity. Big corporations typically divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's technologically innovative period, there's no validation for keeping troublesome procedures. Payroll, the company's greatest expenditure, should be processed properly and on time. Even minor hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to focus on precise and timely payments.
payroll team get um so I'm uncertain anybody on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately 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 however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also 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 option is an excellent initial step um providing an end-to-end payroll solution for your employees worldwide once again I think is another substantial um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of services and decreasing the variety of tools platforms and checking account they need 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we know 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 associated with those processes and also so picture sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and type of try to return to everyone so proceeding look why do business choose to primary separate checking account there are businesses out there doing precisely this for specific countries and I've worked in a business or numerous organizations doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need 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 quantity that we are I think lots of factors one is it's the standard I think individuals have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a procedure that requires taking a look at it requires changing however eventually individuals are very stuck with what they're familiar
with best um change is a tough thing we all don't like change um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having keeping multiple bank accounts but there's a substantial quantity of complexity opts for setting up a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual people so the complexity is huge however I think the truthful response is modification um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century approximately there is a lot to track and this method does posture several obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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