Find out more about Papaya Global Cloud Login Page ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Worker Website supplies workers with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to global staff members despite the variety of employees in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by Global HR encompass various functions such as keeping an eye on holiday time, making sure compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to leaving ones, providing a safe online platform for saving workers' files, and supplying assistance for work permit procedures in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment costs distributed per place, total work costs per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business handling and structure external relationships supporting Business clients and services along with functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your important 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 concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind 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 type of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely really dreary and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up and that needs to leave his time at the really extremely 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 workforces end up being a growing number of common and handling them ends up being increasingly more complicated International organizations are seeking to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment perspective lots of companies keep separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for business to preserve separate checking account often in various countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business simplify the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to enhance working capital, and find how improving international payroll payments can change them from a troublesome job into a tactical possession.
Managing payroll worldwide is a daunting job due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and organizations contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, causing inconsistencies and inefficiencies. Despite living in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar objectives to provide insights and options to simplify and enhance worldwide payroll payments.
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 Labor force information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of an image they see a lack of presence likewise extends to payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal nearly half of international organizations have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors badly interacted hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be included right and what does
it require to be thought about 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 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 consumer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is definitely crucial however everywhere you look with payroll payment they are like super 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to kind of progress with that it likewise too to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm always impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone 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 data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being provided by services across the world so again you're simply looking to add more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine challenging sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from an expense point of view from an effect viewpoint on staff members it is absolutely important that it's done correctly 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 most significant detrimental impact on individuals's well-being and numerous other aspects if people aren't paid uh I've constantly been astonished entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment service is a fantastic primary step um providing an end-to-end payroll service for your workers worldwide once again I think is another substantial um procedure once again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of companies and decreasing the number of tools platforms and savings account they require for their International 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 have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential a function it is which'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 everyone that's involved in those procedures and also so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to get back to everybody so moving on look why do companies choose to primary separate savings account there are companies out there doing exactly this for particular nations and I have actually worked in a company or numerous services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we don't need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I think people have got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs altering however eventually individuals are really stuck with what they recognize
with best um modification is a tough thing we all don't like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving numerous checking account but there's a huge amount of intricacy goes with establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is substantial however I think the truthful response is modification um individuals haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century or so there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I simply did you switched 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 are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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