Find out more about Papaya Global Cannot Send Payslips ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and reputable method of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, saving me a significant quantity of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Worker Website offers employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees despite the number of staff members in the company. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional advantages companies in every country, develop local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment costs distributed per location, overall work costs per cycle and much more.
Globally, I have shown leadership and strategic knowledge in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce 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 valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a range of different functions on the supplier side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I wish I was elsewhere at this moment in time fine so let's begin 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 business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also discuss a wrap-up which ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and handling them ends up being increasingly more complicated International companies are wanting to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment standpoint numerous organizations keep different bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to preserve separate bank accounts sometimes in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they add further intricacy the global Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 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 design there's frequently a frustrating variety of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or really really fundamental there's no real consistency framework we're residing in a period of tech but 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 which simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on global payroll the less of an image they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be consisted of ideal and what does
it require 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 amount of time there's payment abilities 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 consumer's own in-country account so there's complexity anywhere you look right eventually developing a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is enabling us to type of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work better together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is ending up being significantly intricate. Businesses are continuously presenting new advantages and payment alternatives, which adds to the overall intricacy. Big corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly innovative age, there's no justification for maintaining troublesome procedures. Payroll, the business's greatest cost, must be processed properly and on time. Even small delays can negatively impact staff members' well-being and have significant repercussions. For that reason, it's vital to prioritize precise and prompt payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only observe when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is vital to ensure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary step towards supplying a thorough payroll service for employees worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and savings account necessary for worldwide payroll are key consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyway we understand how how crucial 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 associated with those procedures and likewise so envision sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and really see what was going on and sort of try to return to everybody so moving on look why do companies select to primary separate savings account there are businesses out there doing exactly this for specific countries and I've operated in an organization or lots of services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not producing additional work for anyone where we don't need to and anyone 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 amount that we are I think numerous factors one is it's the requirement I think individuals have actually got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering however eventually individuals are very stuck to what they're familiar
with ideal um change is a difficult thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving multiple checking account but there's a substantial amount of complexity opts for setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is substantial but I believe the honest answer is modification um people haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or two there is a lot to keep track of and this method does posture several difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles 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 closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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