Find out more about Papaya Global Chaging Business Adrress ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to managing payments. This provides us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll procedure, conserving me a considerable quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to worldwide employees despite the number of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment costs dispersed per location, overall employment expenses per cycle and far more.
environments around the world I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Business customers and services as well as functioning as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to meet 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 concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've sort of had a range of various roles on the company side and also on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days 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 kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very gloomy and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya International payroll payments as a tactical possession 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 moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and managing them becomes a growing number of complex Worldwide organizations are wanting to discover Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment perspective lots of companies maintain separate savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to preserve separate checking account often in various nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to enhance working capital, and discover how streamlining international payroll payments can change them from a challenging task into a tactical possession.
Managing payroll internationally is a difficult job due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and businesses contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual processes, information silos, and a lack of integration, resulting in disparities and inefficiencies. Regardless of residing in an era of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to supply insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more an organization spends on worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the deal almost half of worldwide organizations have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the data is shipped to the wrong location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they rely on the needed multiple processes 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 difficulties business face when they're making payments to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not require to be consisted of ideal 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 nation there's payment time frames there's payment capabilities 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 customer's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 fundamental and innovation is permitting us to type of move forward with that it also also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely essential that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 often split and cut up um ultimately 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 likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on well-being and the payment landscape is becoming increasingly detailed. Services are constantly presenting new benefits and payment alternatives, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically sophisticated era, there's no justification for maintaining cumbersome treatments. Payroll, the business's biggest expenditure, must be processed correctly and on time. Even small delays can negatively impact staff members' wellness and have far-reaching effects. For that reason, it's crucial to focus on precise and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally as well. Therefore, it is essential to make sure that tasks like Wi-Fi Global and other important matters are done properly. Using the very first Worldwide Payments first payroll payment option is a great initial step towards offering a detailed payroll option for workers worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and bank accounts essential for global payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how important a function 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 everybody that's involved in those procedures and likewise so think of sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and sort of shot to get back to everybody so proceeding look why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular nations and I have actually operated in a service or lots of businesses doing precisely that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't need to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that requires looking at it requires changing but ultimately individuals are very stuck with what they're familiar
with best um change is a hard thing we all don't like change um so I think it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving several savings account but there's a substantial amount of complexity opts for setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is huge but I believe the truthful answer is modification um people have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century or so there is a lot to monitor and this technique does pose a number of challenges um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I simply did you changed our Enterprise 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 workers you are worthy of a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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