Find out more about Papaya Global Cannot Find The File Specified ... 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 acquired a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Employee Website
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.
Advantages Administration
Papaya Global assists business use competitive advantages plans to global workers regardless of the variety of workers in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every nation, produce local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs distributed per location, total employment expenses per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Business clients and services as well as acting as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for a lot of influential business worldwide we provide payroll payments and workforce management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great night depending on where you remain in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I've kind of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays 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 sort of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely bleak and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business keep separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll also go over a wrap-up and that must leave his time at the really extremely 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 International labor forces become more and more common and managing them ends up being more and more complex Global companies are seeking to discover Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment perspective lots of companies preserve different savings account just for payroll while some have several accounts in different countries does it make sense for business to keep different checking account in some cases in various nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies enhance the episode complex processes of
making payroll payments precisely effectively securely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most notably policies compliance information security and banking guidelines then there are the large numbers they add further intricacy the international Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll model there's often a frustrating variety of various systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or very extremely basic there's no genuine consistency structure we're residing in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more a company invests in international payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of global services have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the average cost of an international 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 smoothly if they rely on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges business face when they're making payments to staff members 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 thought about 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 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 consumer's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information 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
world we reside in and wellness being a growing number of essential to add to sort of the level of intricacy there's more and more benefits being organ or being offered by companies across the world so again you're simply wanting to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or genuine challenging type of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single most significant liability that any organization has from a cost perspective from an effect perspective on workers it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental result on people's well-being and numerous other elements if people aren't paid uh I've constantly been impressed entering this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone 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 just discover when things fail. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi International and other crucial matters are done properly. Using the very first Global Payments very first payroll payment service is a great initial step towards offering an extensive payroll service for employees worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and checking account needed for international payroll are crucial consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyhow we understand how how important 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 processes and likewise so imagine sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task 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 held true um you 'd need days of the week to try to browse them and in fact see what was going on and sort of try to return to everybody so proceeding look why do business choose to main separate savings account there are services out there doing precisely this for particular nations and I've worked in a service or numerous services doing exactly that I can state it does not always feel efficient and it does produce more work I know we're not intentionally 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 thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think individuals have actually got so used to we require a brand-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 believe it's just been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering but ultimately individuals are very stuck to what they recognize
with right um change is a tough thing all of us don't like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having maintaining numerous bank accounts but there's a substantial quantity of intricacy opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the complexity is substantial but I think the sincere response is modification um individuals haven't been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep track of and this method does posture a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a range 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 actually acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees 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 closer, considering your accomplishments.
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