Find out more about Papaya Global Change Name After Marriage ... 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 obtained a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and trusted technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to worldwide staff members despite the variety of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every country, develop local accounts and have a minimum number of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work costs distributed per area, overall work expenses per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to staff members 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, regardless of your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and obstacles 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 six years where I've sort of had a range of different functions on the provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating 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 everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really gloomy and I want I was elsewhere at this moment in time all right so let's begin 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 companies maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll also discuss a recap which must leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of typical and handling them ends up being a growing number of intricate Worldwide organizations are aiming to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different bank accounts sometimes in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex procedures of
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most significantly policies compliance data security and banking rules then there are the sheer numbers they include additional complexity the worldwide Workforce is presently 3 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's often a frustrating variety of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or very extremely basic there's no real consistency framework we're living 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 frequently with pen and paper which simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide services have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes badly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the data is shipped to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and say what is it what doesn't require to be included best and what does
it require to be considered there's varying 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 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 client's own in-country account so there's complexity wherever you look best eventually constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 type of move forward with that it also also to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 typically 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 individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to sort of the level of intricacy there's increasingly more advantages being organ or being used by services throughout the world so again you're simply aiming to include increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine challenges or genuine difficult kind of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of years I would definitely state that the larger a business 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 understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any organization has from an expense viewpoint from an impact viewpoint on staff members it is definitely critical that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful effect on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been amazed coming into this Market kind of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only notice when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally as well. For that reason, it is necessary to guarantee that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the first Worldwide Payments first payroll payment solution is a fantastic preliminary action towards offering an extensive payroll solution for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and savings account required for international payroll are crucial consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyway we understand how how essential 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 everybody that's associated with those processes and also so envision sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean 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 need days of the week to attempt to browse them and really see what was going on and sort of try to return to everyone so carrying on look why do companies pick to primary different bank accounts there are companies out there doing exactly this for specific countries and I've operated in a service or numerous organizations doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for anyone where we don't have to and anyone that's managing 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 numerous factors one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs changing but ultimately people are very stuck to what they recognize
with right um modification is a difficult thing we all do not like modification um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having keeping numerous savings account however there's a big quantity of complexity goes with setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is huge but I believe the sincere answer is change um people have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually always 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 might practically be identified to be the next Century or so there is a lot to keep an eye on and this method does posture several challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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