Find out more about Papaya Global Support Opening Hours ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies employees with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to international workers despite the variety of workers in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional advantages companies in every nation, produce local accounts and have a minimum number of staff members.
The HR abilities supplied by International HR encompass different functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding goodbye to departing ones, providing a protected online platform for storing workers' files, and supplying support for work allow procedures in case your staff members require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall employment costs dispersed per location, overall work costs per cycle and far more.
Internationally, I have demonstrated management and tactical knowledge in guiding massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As an international business, we are honored to be included 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 introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually kind of had a variety of various functions on the company side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing 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 everyone comes from and I really 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 raining here it's very extremely dreary and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise discuss a recap which must leave his time at the very extremely 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 end up being a growing number of typical and handling them ends up being a growing number of intricate Worldwide companies are aiming to find Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment perspective lots of companies preserve separate savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to preserve separate savings account sometimes in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex processes of
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings 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 tactical asset so payroll can be hard in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of factors most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people 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 around the world in the conventional payroll design there's typically an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or extremely very standard there's no real consistency structure we're residing in an era of tech but 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 and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on international payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of global organizations have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors poorly interacted hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they count on the essential numerous 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 difficulties service face when they're paying to workers or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is definitely crucial but everywhere 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 between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to sort of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always astonished when individuals state 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 computation 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 process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on well-being and the settlement landscape is becoming increasingly elaborate. Services are continuously presenting brand-new advantages and payment choices, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly sophisticated era, there's no justification for keeping troublesome procedures. Payroll, the company's most significant expense, must be processed correctly and on time. Even slight hold-ups can negatively impact staff members' wellness and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all become aware of 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 think 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 things is done properly so leveraging the very first International Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your employees worldwide once again I think is another substantial um procedure again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of services and lowering the variety of tools platforms and checking account they need for their International 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 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 rather where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 everyone that's associated with those processes and also so imagine 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'm sure we're talking about numerous thousands possibly Millions picture getting that many thank you notes 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 attempting to clean all those up for sure oh definitely I can't picture 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 really see what was going on and sort of shot to return to everyone so proceeding look why do companies select to primary different checking account there are companies out there doing precisely this for specific nations and I've operated in a business or lots of companies doing exactly that I can say it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not developing extra work for any person 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 believe that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think people have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually 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 many other methods um to to sort of do it so I think there's a variety I think this is a process that needs looking at it requires changing however ultimately individuals are extremely stuck with what they recognize
with right um change is a hard thing all of us do not like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping numerous savings account but there's a substantial amount of intricacy chooses establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private people so the complexity is huge but I think the honest response is change um people haven't had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century or two there is a lot to monitor and this technique does posture numerous obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety 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 International employees you are worthy of a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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