Find out more about Papaya Global Clses When Clicking On Reports ... 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 gotten a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and dependable approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to worldwide staff members despite the number of workers in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every nation, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total work costs dispersed per place, total work expenses per cycle and far more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members 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 solutions as well as acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. 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 complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I actually 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 raining here it's extremely very gloomy and I wish 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 challenge years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most notably guidelines compliance data security and banking guidelines then there are the large numbers they include further complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or really really fundamental there's no real consistency structure we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization spends on global payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of international services have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the information is shipped to the incorrect location the average 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 all over the world payroll and payments do not run smoothly if they depend on the needed several processes 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 workers or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be consisted of best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is absolutely important but 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 type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation 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 typically 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to contribute to sort of the level of intricacy there's more and more advantages being organ or being used by services across the world so once again you're simply wanting to include a growing number of payments to this already intricate landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real obstacles or real difficult type of pay uses to play to pay people I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the bigger a service 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 info into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from a cost perspective from an impact point of view on workers it is definitely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on people's well-being and numerous other factors if people aren't paid uh I've constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment solution is a fantastic initial step um supplying an end-to-end payroll solution for your workers internationally once again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of companies and lowering the number of tools platforms and checking account they need for their Worldwide 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
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 simple as possible for everyone that's associated with those processes and likewise so think of sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions picture 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 absolutely be an interesting task attempting to clean up all those up for sure oh absolutely 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 try to look through them and really see what was going on and type of shot to get back to everybody so moving on appearance why do business select to primary different bank accounts there are organizations out there doing exactly this for particular countries and I have actually worked in a service or numerous businesses doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not need to and any person that's handling 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 think lots of reasons one is it's the standard I believe people have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it needs changing however eventually people are very stuck with what they recognize
with right um change is a challenging thing we all do not like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having preserving numerous savings account however there's a huge quantity of intricacy opts for establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the best user accesses for private people so the complexity is substantial however I believe the truthful response is change um individuals haven't been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine reason 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 technique does present a number of challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed 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 workers you should have a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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