Find out more about Papaya Global Change Database Location ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and dependable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, conserving me a significant quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to global employees no matter the variety of workers in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, create local accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR encompass various functions such as keeping an eye on holiday time, making sure compliance, helping with the procedure of welcoming new employees and bidding farewell to departing ones, using a safe online platform for saving workers' files, and supplying support for work permit treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment costs dispersed per place, overall employment costs per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind 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 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 sunshine is it it's not no it's it's drizzling here it's really really bleak and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add further intricacy the global Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people 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 worldwide in the standard payroll design there's often an overwhelming number of different systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or very extremely fundamental there's no real consistency framework we're residing in an era of tech but payroll has been sluggish 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 whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more a company spends on global payroll the less of an image they see an absence of exposure also reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of international organizations have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's a great question I always toss this back and state what is it what does not require to be consisted of right 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 time frames there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some babies 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 absolutely basic and technology is permitting us to kind of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work better together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market 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 wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is ending up being increasingly intricate. Companies are continually presenting new advantages and payment choices, which adds to the total complexity. Large corporations typically divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my opinion, this does not have to hold true. In today's highly innovative age, there's no validation for keeping troublesome procedures. Payroll, the company's greatest expense, should be processed correctly and on time. Even slight delays can negatively impact workers' well-being and have far-reaching effects. For that reason, it's critical to focus on precise and prompt payments.
payroll group get um so I'm unsure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails 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 stuff is absolutely crucial that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment solution is a terrific primary step um supplying an end-to-end payroll option for your staff members globally again I think is another big um procedure once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of businesses and lowering the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know 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 simple as possible for everybody that's associated with those procedures and likewise so envision sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean all those up for sure oh definitely 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 attempt to look through them and really see what was going on and type of try to return to everybody so moving on appearance why do companies choose to main separate checking account there are organizations out there doing precisely this for specific countries and I have actually operated in a service or numerous organizations doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not creating extra work for anyone where we do not have to and anyone that's dealing with that procedure 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 believe many factors one is it's the standard I believe people have got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing however ultimately individuals are very stuck to what they're familiar
with right um change is a difficult thing all of us don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping several savings account however there's a huge quantity of complexity opts for establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private people so the intricacy is huge however I think the sincere answer is change um people have not been able to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or so there is a lot to track and this method does position a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Enterprise 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 workers you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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