Papaya Global Cloud Backup

Find out more about Papaya Global Cloud Backup ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and dependable technique of making payments to our 10,000 staff members worldwide.}

The innovative worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.

Worker Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.

Benefits Administration
Papaya Global helps business provide competitive benefits plans to international staff members regardless of the number of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every country, develop regional accounts and have a minimum number of workers.

The HR capabilities offered by Worldwide HR include different functions such as monitoring holiday time, ensuring compliance, helping with the process of inviting brand-new employees and bidding farewell to leaving ones, providing a safe and secure online platform for storing workers' documents, and supplying support for work allow procedures in case your employees need help in that area.

HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work expenses dispersed per place, total work costs per cycle and much more.

environments across the globe I provided leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Business clients and options along with serving as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments

As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to satisfy you and thank you for your important time. As Ian discussed, 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 solutions for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.

payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually sort of had a range of various roles on the company side and also on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone 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 really extremely gloomy and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business preserve different

savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll likewise review a wrap-up which ought to leave his time at the really extremely 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 Worldwide workforces become more and more typical and handling them ends up being increasingly more complicated Worldwide organizations are aiming to find Solutions and brand-new ways to enhance procedures specifically from a payroll and cross-border payment perspective numerous companies maintain different checking account just for payroll while some have numerous accounts in various countries does it make good sense for companies to preserve different savings account sometimes in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies enhance the episode complex processes of

Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to enhance working capital, and find how streamlining worldwide payroll payments can change them from a troublesome task into a strategic asset.

Handling payroll worldwide is a complicated task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of employees and services adds to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.

Standard payroll systems often lead to manual procedures, data silos, and an absence of integration, causing inconsistencies and inefficiencies. Despite living in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to offer insights and options to streamline and enhance international payroll payments.

about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in international payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide companies have revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes poorly communicated hires and terminations in addition to lack management and system setups and then when you round all of it off and the information is shipped to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and say what is it what doesn't require to be included ideal and what does

it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's complexity anywhere you look ideal ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if but 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 think there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely important that payroll and finance groups work closer together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information 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 reside in and well-being being increasingly more essential to add to sort of the level of complexity there's more and more benefits being organ or being used by organizations across the world so once again you're simply seeking to add more and more payments to this already intricate landscape so if you type 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 real challenges or genuine challenging type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single biggest liability that any organization has from an expense perspective from an effect perspective on employees it is absolutely vital that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful result on people's well-being and lots of other elements if individuals aren't paid uh I have actually always been surprised coming into this Market kind of the last five to ten years is how little thanks the

payroll group get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is a fantastic primary step um supplying an end-to-end payroll service for your employees globally again I think is another huge um process again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies and reducing the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're indicated to be um I do not believe any of us are really doing that for for the thanks

anyhow we know 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 everyone that's associated with those procedures and also so picture sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task attempting to clean up 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 business choose to primary different savings account there are companies out there doing precisely this for specific countries and I've operated in a business or numerous companies doing precisely that I can state it does not always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't have to and anyone that's dealing with 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 reasons one is it's the standard I think individuals have actually got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes 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 the people have embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs changing but ultimately individuals are very stuck with what they're familiar

with best um modification is a tough thing we all don't like modification um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having preserving several checking account but there's a huge quantity of intricacy goes with establishing a bank account keeping it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals 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 necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck 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 benefits and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or so there is a lot to keep track of and this method does position several difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so

I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.

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