Find out more about Papaya Global Conflict With Avast Anti Virus ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trusted technique of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Worker Website supplies workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to global workers regardless of the number of employees in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every nation, develop local accounts and have a minimum number of staff members.
The HR abilities provided by Worldwide HR include various functions such as keeping an eye on vacation time, making sure compliance, assisting in the process of inviting new staff members and bidding goodbye to leaving ones, providing a safe online platform for storing employees' files, and supplying assistance for work permit procedures in case your employees require help in that location.
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, overall work costs per cycle and a lot more.
Internationally, I have shown leadership and tactical knowledge in directing massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different functions on the provider side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer 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 sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 very very dreary and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise review a wrap-up and that ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and handling them becomes increasingly more intricate Worldwide organizations are aiming to find Solutions and new methods to streamline processes specifically from a payroll and cross-border payment viewpoint lots of companies preserve separate checking account just for payroll while some have several accounts in different nations does it make sense for business to keep separate bank accounts often in various countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business improve the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for businesses running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a tactical possession.
Handling payroll internationally is a challenging job due to various policies, compliance requirements, information security concerns, and banking rules. The sheer variety of workers and companies contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and options to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have actually revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the needed numerous 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 challenges service face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be included ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of move forward with that it likewise also to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely necessary that payroll and financing groups work better together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 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 people any place they are however likewise 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 becoming significantly complex. Businesses are continuously presenting brand-new benefits and payment choices, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the company's greatest expenditure, need to be processed properly and on time. Even small delays can adversely impact workers' wellness and have significant consequences. For that reason, it's critical to prioritize precise and timely payments.
payroll group get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a terrific first step um offering an end-to-end payroll option for your employees internationally again I believe is another big um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely key to success success of businesses and decreasing the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never 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 grievances where things haven't gone rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyway we know how how essential a function 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 likewise so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and really see what was going on and kind of shot to get back to everyone so proceeding look why do business choose to main different bank accounts there are businesses out there doing exactly this for specific nations and I have actually operated in an organization or lots of companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not have to and anybody that's handling 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 think lots of reasons one is it's the standard I believe individuals have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are very stuck to what they recognize
with ideal um change is a hard thing all of us don't like modification um so I believe it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having maintaining multiple bank accounts but there's a huge amount of intricacy goes with establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is huge however I think the sincere response is change um people haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or two there is a lot to track and this approach does present numerous obstacles um so Johnny could you inform us about those obstacles yeah of course 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 capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
Papaya Global Aeo