Find out more about Papaya Global And Coronavirus ... We now have the capability 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 specifically devoted to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
The innovative worldwide payroll management app improves my payroll procedure, saving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Employee Website provides staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to international employees no matter the number of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional benefits suppliers in every nation, create local accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment costs dispersed per area, overall work expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business managing and building external relationships supporting Business clients and options in addition to acting as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be rather 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 comes 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 raining here it's really extremely uninspiring and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies maintain separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance data security and banking guidelines then there are the large numbers they add further 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 presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll model there's typically a frustrating number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or really very standard there's no real consistency structure we're residing in an age of tech however payroll has 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 simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a service spends on international payroll the less of a photo they see an absence of visibility also reaches payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international 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 poor HCM information information entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the essential several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great question I constantly toss this back and state what is it what does not need to be included right and what does
it require 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 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 customer's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is definitely important but all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 innovation is enabling us to type of move on with that it also as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work better together than ever um I'm always impressed when people state 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 occupation would they divide the payroll payment from calculation I would say no so why do we as a market 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on well-being and the compensation landscape is becoming significantly elaborate. Organizations are constantly introducing new benefits and payment options, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't need to hold true. In today's highly advanced age, there's no reason for maintaining troublesome procedures. Payroll, the business's most significant cost, must be processed properly and on time. Even small delays can adversely affect workers' well-being and have far-reaching effects. For that reason, it's critical to prioritize precise and prompt payments.
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only see when things fail. However, when things go right, it's seen as just a regular job. This is how it's viewed externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment option is a terrific preliminary step towards providing a detailed payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account required for international payroll are essential consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand 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 procedures and likewise so imagine sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job trying to clean up 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 require days of the week to try to browse them and in fact see what was going on and type of shot to get back to everybody so proceeding look why do companies choose to main different savings account there are services out there doing precisely this for specific countries and I've operated in an organization or numerous organizations doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for any person where we don't need to and anybody 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 believe numerous factors one is it's the standard I think people have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I think this is a process that requires looking at it requires altering but eventually people are really stuck to what they recognize
with ideal um change is a difficult thing we all do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping several checking account but there's a huge quantity of intricacy opts for establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is big but I believe the honest answer is modification um individuals have not had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to monitor and this method does position several challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed 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 Global employees you deserve a corner workplace with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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