Find out more about Papaya Global Pension ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app improves my payroll process, saving me a significant quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Employee Website offers staff members with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to global staff members regardless of the number of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every nation, develop regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses dispersed per location, overall work costs per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Business clients and services in addition to functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on offering 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 present himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've kind of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really really uninspiring and I want I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll also go over a recap and that must leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and handling them ends up being a growing number of complex Worldwide companies are looking to find Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment perspective many companies keep separate savings account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain separate bank accounts sometimes in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business streamline the episode complex procedures of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, find out how business forecast payroll expenses to optimize working capital, and discover how enhancing international payroll payments can change them from a challenging task into a tactical property.
Managing payroll internationally is a challenging job due to different guidelines, compliance requirements, data security concerns, and banking rules. The large number of staff members and companies contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual procedures, data silos, and a lack of integration, causing disparities and ineffectiveness. Regardless of living in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to provide insights and options to simplify and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal almost half of international companies have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the data is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they rely on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to workers or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's varying 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 abilities 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 consumer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to type of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 any place they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the compensation landscape is becoming significantly intricate. Organizations are continuously presenting new advantages and payment choices, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically advanced period, there's no reason for keeping cumbersome treatments. Payroll, the business's biggest expense, need to be processed properly and on time. Even slight delays can negatively affect workers' wellness and have significant consequences. For that reason, it's critical to focus on accurate and timely payments.
payroll team get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us find out about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment solution is a great first step um offering an end-to-end payroll option for your workers worldwide again I think is another huge um procedure once again aligning and ensuring you have standardization Global processes all of those things are definitely crucial to success success of businesses and reducing the number of tools platforms and bank accounts they need for their Global 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how important a function 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 everybody that's associated with those procedures and also so think of sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and sort of shot to get back to everyone so carrying on appearance why do companies pick to primary separate savings account there are organizations out there doing exactly this for specific countries and I have actually worked in an organization or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for any person where we do not need to and anyone that's dealing with that process I 'd be interested to hear your thoughts 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 actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have embraced 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 numerous other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering but eventually individuals are very stuck to what they recognize
with ideal um modification is a hard thing we all don't like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining several savings account but there's a huge amount of intricacy goes with establishing a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is substantial however I believe the honest answer is modification um individuals haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep track of and this technique does posture numerous challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing 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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