Find out more about Papaya Global Crash Log ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and dependable technique of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Worker Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to worldwide workers despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local advantages companies in every nation, develop local accounts and have a minimum variety of staff members.
The HR capabilities offered by Worldwide HR encompass different functions such as keeping track of holiday time, ensuring compliance, helping with the process of inviting brand-new staff members and bidding goodbye to leaving ones, providing a safe and secure online platform for saving employees' documents, and offering support for work permit treatments in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall employment costs dispersed per area, overall work costs per cycle and a lot more.
environments around the world I provided management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across business managing and building external relationships supporting Enterprise clients and options along with serving as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. 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 fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody 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 sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very dreary and I want I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll likewise discuss a recap and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of common and managing them ends up being increasingly more complicated International companies are looking to discover Solutions and brand-new ways to simplify procedures specifically from a payroll and cross-border payment standpoint lots of companies maintain different bank account just for payroll while some have multiple accounts in various nations does it make sense for business to keep different checking account in some cases in different countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies improve the episode complex procedures of
Guaranteeing precise, efficient, and prompt payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can change them from a difficult job into a tactical asset.
Handling payroll worldwide is a complicated job due to numerous regulations, compliance requirements, information security concerns, and banking guidelines. The large number of workers and businesses adds to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and inefficiencies. Despite living in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide organizations have actually revealed 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 due to time reporting bad HCM information data entry errors badly interacted hires and terminations along with lack management and system configurations and then when you round all of it off and the information 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 need to move the money all over the world payroll and payments don't run efficiently if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is definitely critical however all over 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 look at the sort 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 absolutely fundamental and innovation is enabling us to kind of move on with that it likewise as well to add to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I have actually split 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 divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the compensation landscape is ending up being significantly elaborate. Companies are continually introducing new benefits and payment choices, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this does not have to be the case. In today's technologically innovative era, there's no justification for preserving cumbersome treatments. Payroll, the company's greatest expense, should be processed properly and on time. Even slight hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's vital to focus on accurate and prompt payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally also. For that reason, it is vital to ensure that jobs like Wi-Fi Global and other important matters are done correctly. Utilizing the first International Payments very first payroll payment option is a terrific preliminary step towards supplying a comprehensive payroll option for employees worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account essential for global payroll are crucial factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand 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 simple as possible for everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na say envision 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind 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 absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies select to primary separate checking account there are companies out there doing exactly this for specific nations and I've worked in a service or numerous organizations doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for any person where we don't have 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 quantity that we are I think numerous reasons one is it's the standard I believe people have got so used to we need a new checking account we open an entity and appropriately so you require 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 requirement and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are very stuck to what they're familiar
with best um modification is a tough thing all of us do not like modification um so I believe it's just sort 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 keeping several checking account however there's a substantial amount of intricacy chooses setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is big however I think the honest response is change um individuals haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep track of and this approach does present a number of obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise 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 International staff members you deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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