Find out more about Papaya Global Autopay ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trustworthy method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a significant quantity of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Website
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global staff members despite the variety of staff members in the business. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total work expenses dispersed per area, overall work expenses per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise customers and services along with acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to meet 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 services for the past 7 years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it remains 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 very extremely bleak and I wish 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 difficulty years of handling Worldwide payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll also discuss a recap and that should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and handling them becomes increasingly more complicated International organizations are wanting to discover Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint many companies maintain separate checking account just for payroll while some have numerous accounts in various countries does it make good sense for companies to preserve separate bank accounts sometimes in various nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business enhance the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how simplifying global payroll payments can transform them from a difficult job into a tactical possession.
Managing payroll worldwide is a challenging task due to various policies, compliance requirements, information security issues, and banking rules. The large number of workers and services contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, causing disparities and inadequacies. In spite of residing in a period of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to supply insights and options to simplify and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a photo they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international organizations have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round it all off and the data is delivered to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count 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 requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be thought of there's varying 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 abilities 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 customer's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is absolutely crucial but all over 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 kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to type of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry 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 individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to add to kind of the level of complexity there's increasingly more advantages being organ or being offered by companies across the world so once again you're just wanting to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real challenges or real tough kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding information into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact point of view on workers it is absolutely crucial that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging impact on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just observe when things fail. However, when things go right, it's seen as just a regular job. This is how it's perceived externally also. Therefore, it is necessary to ensure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the very first International Payments first payroll payment solution is a great initial step towards offering a comprehensive payroll service for employees worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and savings account needed for international payroll are key factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how essential a role 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 everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and sort of try to return to everyone so carrying on appearance why do business select to main different bank accounts there are organizations out there doing exactly this for particular nations and I have actually operated in an organization or lots of organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I think people have actually got so used to we require a new bank account we open an entity and rightly 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 standard and the norm individuals have actually 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 methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing but eventually people are really stuck to what they're familiar
with right um change is a tough thing we all do not like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving several bank accounts however there's a big amount of intricacy goes with establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is huge however I believe the sincere answer is change um individuals have not been able to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we have actually always 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 know what might practically be figured out to be the next Century or so there is a lot to monitor and this technique does posture several challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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