Find out more about Processing A Leaver On Papaya Global ... 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 actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and trustworthy technique of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits packages to global staff members regardless of the number of workers in the company. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create local accounts and have a minimum number of workers.
The HR abilities provided by Global HR incorporate numerous functions such as monitoring holiday time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding farewell to leaving ones, using a secure online platform for keeping employees' documents, and offering assistance for work allow treatments in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall work costs distributed per location, total work costs per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Business clients and solutions along with serving as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the provider side and likewise on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well one of 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 fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very bleak and I want I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll globally is a complicated job due to various guidelines, compliance requirements, information security issues, and banking guidelines. The sheer number of workers and services contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual processes, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Despite living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to supply insights and options to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service invests in global payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they rely on the required numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought about there's differing 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look right eventually building a knowledge base is definitely important but all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 fundamental and technology is allowing us to type of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession 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 typically 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 but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is becoming increasingly complex. Organizations are constantly presenting new advantages and payment choices, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically innovative age, there's no validation for preserving cumbersome procedures. Payroll, the business's greatest expenditure, need to be processed correctly and on time. Even slight hold-ups can negatively affect workers' wellness and have significant consequences. Therefore, it's critical to prioritize precise and prompt payments.
payroll group get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an important cycle we all find out 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first International Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll option for your employees worldwide once again I believe is another huge um process again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Global 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 have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I do not believe 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 everyone that's associated with those procedures and likewise so envision sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that numerous 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 an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and kind of try to return to everybody so moving on appearance why do companies select to main different checking account there are businesses out there doing precisely this for specific nations and I have actually worked in an organization or many companies doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating additional work for anyone where we don't have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and appropriately 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 standard individuals have actually 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 lots of other ways um to to type of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing however eventually people are very stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping numerous bank accounts but there's a huge amount of complexity goes with setting up a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the intricacy is substantial but I believe the sincere answer is change um individuals have not been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to monitor and this technique does position a number of difficulties um so Johnny could you inform us about those obstacles yeah obviously 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 Worldwide employees you deserve a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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