Find out more about Papaya Global Calculator 2016 17 ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and trustworthy technique of paying to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll process, saving me a significant quantity of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide workers no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every country, develop local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR encompass various functions such as keeping track of getaway time, guaranteeing compliance, facilitating the process of welcoming new workers and bidding goodbye to leaving ones, offering a secure online platform for saving employees' documents, and providing assistance for work allow treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment expenses distributed per location, overall work costs per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and solutions in addition to 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 global business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to meet you and thank you for your important 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 focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or six years where I've type of had a variety of various roles on the provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone another couple of uh well among 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 quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly 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 extremely really bleak and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up and that must leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and managing them ends up being a growing number of complex Worldwide companies are wanting to discover Solutions and new methods to simplify processes especially from a payroll and cross-border payment standpoint many organizations maintain separate bank account just for payroll while some have numerous accounts in various countries does it make good sense for companies to maintain different checking account in some cases in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex processes of
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly regulations compliance data security and banking rules then there are the large numbers they include further intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider 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 various systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or really really basic 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 which simply blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors poorly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of ideal and what does
it need 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type 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 definitely essential and technology is allowing us to sort of move forward with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work better together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is ending up being increasingly detailed. Businesses are continually introducing new advantages and payment choices, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's technologically advanced period, there's no validation for keeping troublesome procedures. Payroll, the business's greatest expense, should be processed properly and on time. Even small delays can negatively affect staff members' well-being and have far-reaching effects. For that reason, it's crucial to focus on accurate and prompt payments.
payroll group get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout 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 things is absolutely crucial that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is a terrific initial step um supplying an end-to-end payroll service for your workers worldwide again I believe is another big um procedure once again lining up and ensuring you have standardization International procedures all of those things are absolutely crucial to success success of services and decreasing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how essential 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 everybody that's involved in those processes and likewise so imagine sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and really see what was going on and sort of try to return to everybody so carrying on appearance why do companies select to main different savings account there are companies out there doing exactly this for particular countries and I have actually operated in a company or lots of services doing precisely that I can say it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and any person that's handling that process 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 believe lots of reasons one is it's the requirement I think individuals have actually got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually 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 numerous other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering but eventually individuals are really stuck with what they recognize
with ideal um change is a challenging thing all of us do not like change um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having keeping multiple checking account however there's a substantial quantity of complexity opts for setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is big however I think the truthful response is change um individuals have not had the ability to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep an eye on and this technique does pose a number of obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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