Find out more about Papaya Global Csv Templates Export ... We now have the capability to handle 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 particularly dedicated to managing payments. This supplies us with a protected and trustworthy method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Employee Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to worldwide staff members despite the number of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR encompass various functions such as monitoring getaway time, ensuring compliance, assisting in the procedure of inviting brand-new employees and bidding goodbye to leaving ones, using a safe and secure online platform for saving employees' files, and offering support for work allow procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work costs dispersed per area, overall employment expenses per cycle and a lot more.
environments around the world I supplied management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and options along with functioning as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prominent 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 present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've sort of had a range of different roles on the company side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates 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 bleak and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a recap and that should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and managing them ends up being more and more complex Global organizations are aiming to find Solutions and new ways to improve processes particularly from a payroll and cross-border payment standpoint lots of companies maintain separate bank account just for payroll while some have several accounts in various countries does it make sense for business to maintain different checking account often in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Making sure accurate, efficient, and prompt payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to optimize working capital, and find how improving worldwide payroll payments can change them from a burdensome task into a strategic asset.
Handling payroll internationally is a challenging job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of workers and businesses contributes to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual procedures, data silos, and an absence of integration, causing inconsistencies and inefficiencies. Regardless of residing in a period of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and solutions to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a service spends on worldwide payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide companies have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything off and the information is delivered to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be included best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if but some babies 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 recognition that payroll payments are absolutely fundamental and innovation is allowing us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely important that payroll and finance teams work closer together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being provided by companies across the world so once again you're simply wanting to add more and more payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or real difficult type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not 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 why we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from a cost perspective from an impact point of view on employees it is absolutely crucial 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 biggest damaging impact on individuals's well-being and numerous other elements if people aren't paid uh I have actually constantly been impressed coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout 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 things is absolutely vital that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is a great first step um supplying an end-to-end payroll option for your staff members internationally once again I think is another big um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of companies and reducing the variety of tools platforms and bank accounts they require for their International 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 have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how essential a role 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 easy as possible for everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and sort of try to get back to everyone so carrying on look why do companies pick to primary separate bank accounts there are businesses out there doing precisely this for particular nations and I've operated in a company or numerous companies doing exactly that I can state it does not constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't need to and any person that's managing 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 amount that we are I believe numerous reasons one is it's the requirement I believe people have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however 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 adopted 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 kind of do it so I think there's a range I think this is a process that needs taking a look at it requires changing however eventually people are extremely stuck with what they recognize
with right um modification is a hard thing we all do not like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining numerous savings account but there's a substantial amount of complexity chooses setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is huge however I believe the sincere response is change um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've always done it that way is no real reason for not looking at the the advantages 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 keep track of and this method does position several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
Papaya Global Aeo