Find out more about Restore Papaya Global Backup ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and dependable technique of paying 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
Employee Portal
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits plans to global employees regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment expenses distributed per area, total work expenses per cycle and much more.
Globally, I have actually shown management and tactical proficiency in directing massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My function includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force 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, 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 industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the provider side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates 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 really very gloomy and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a recap and that must leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them ends up being more and more intricate Worldwide organizations are looking to find Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment viewpoint lots of companies keep separate checking account just for payroll while some have numerous accounts in various countries does it make sense for business to preserve different bank accounts often in different nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping international companies simplify the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly regulations compliance information security and banking rules then there are the sheer numbers they add further intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there's typically an overwhelming number of different systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or really very fundamental there's no genuine consistency framework we're living in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind whenever I I believe
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 data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in international payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide services 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 errors are due to time reporting bad HCM data information entry mistakes poorly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the information is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the required multiple 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 obstacles company face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what doesn't need to be included right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to kind of progress with that it likewise too to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm always impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation 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 procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the compensation landscape is becoming significantly detailed. Services are constantly introducing brand-new advantages and payment options, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically innovative age, there's no reason for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even small hold-ups can adversely affect employees' well-being and have far-reaching repercussions. Therefore, it's crucial to focus on accurate and timely payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. Therefore, it is necessary to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Global Payments first payroll payment option is a terrific initial step towards supplying a detailed payroll option for workers worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and checking account needed for global payroll are crucial consider attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how crucial a role 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 involved in those processes and also so imagine sorry I'm just I was simply gon na state picture 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 hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and in fact see what was going on and sort of try to return to everyone so carrying on appearance why do business choose to main different savings account there are businesses out there doing precisely this for particular countries and I've operated in a company or numerous companies doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we do not need to and any person 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 amount that we are I think numerous reasons one is it's the standard I believe people have actually got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes but 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 adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering but eventually individuals are very stuck to what they're familiar
with ideal um change is a hard thing all of us don't like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping multiple savings account however there's a huge quantity of intricacy opts for setting up a savings account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is big however I believe the sincere answer is modification um people have not had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to monitor and this method does present a number of difficulties um so Johnny might you inform us about those obstacles 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 jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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