Find out more about Papaya Global Contact Email Address ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and trustworthy technique of making payments to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll process, conserving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Worker Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to international employees regardless of the variety of employees in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages companies in every nation, develop local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall employment expenses distributed per location, total employment costs per cycle and much more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Business clients and solutions in addition to acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of different roles on the service provider side and also on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely dreary and I wish I was somewhere else at this moment in time alright 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 handling Global payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll likewise discuss a wrap-up and that must leave his time at the really 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 International labor forces end up being more and more typical and handling them ends up being more and more complex Worldwide companies are seeking to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment standpoint numerous organizations preserve separate bank account just for payroll while some have numerous accounts in various nations does it make sense for companies to keep separate bank accounts often in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies enhance the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can change them from a difficult task into a strategic property.
Handling payroll worldwide is a difficult task due to different guidelines, compliance requirements, data security issues, and banking rules. The large variety of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of integration, causing inconsistencies and inefficiencies. Regardless of residing in an era of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to offer insights and services to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global services have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect 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 money around the globe payroll and payments don't run smoothly if they rely on the required several processes systems and partners it is simply not possible so Johnny from a payments point of view 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 always toss this back and say what is it what doesn't require 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is permitting us to type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often 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 also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of complexity there's more and more benefits being organ or being offered by services across the world so again you're just seeking to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real challenges or real challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you know in in my opinion and my experience that doesn't always need 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 timely they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any company has from an expense point of view from an impact viewpoint on workers it is absolutely important that it's done correctly and on time so what we suggest 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 impact on individuals's well-being and many other elements if individuals aren't paid uh I've constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has actually been informed 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 staff members or not um but ultimately payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong but 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 likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a great first step um offering an end-to-end payroll option for your employees globally once again I believe is another big um procedure again lining up and ensuring you have standardization Global procedures all of those things are definitely essential to success success of businesses and lowering the number of tools platforms and checking account they require 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've never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyway we know how how important 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 involved in those processes and likewise so imagine sorry I'm just I was just gon na say imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of shot to return to everyone so moving on appearance why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular nations and I have actually operated in a service or many businesses doing precisely that I can state it doesn't always feel effective and it does produce more work I know we're not deliberately doing that we're not creating additional work for any person where we don't need to and any person that's dealing with 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 believe lots of reasons one is it's the requirement I believe individuals have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires altering however eventually individuals are really stuck with what they're familiar
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 norm as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having maintaining multiple bank accounts however there's a big amount of intricacy opts for establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is huge but I believe the truthful answer is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to track and this method does posture several difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is better, considering your achievements.
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