Find out more about Papaya Global Anguilla ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and dependable technique of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to a Worker 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.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to worldwide employees regardless of the variety of staff members in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, create local accounts and have a minimum number of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total work costs dispersed per area, overall work expenses per cycle and a lot more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Business clients and options as well as serving as an advisor for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually kind of had a range of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everyone 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 currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely bleak and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially helpful for global companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and discover how streamlining global payroll payments can change them from a difficult task into a strategic possession.
Managing payroll globally is a complicated job due to different regulations, compliance requirements, data security concerns, and banking rules. The large number of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual processes, data silos, and a lack of combination, resulting in disparities and inadequacies. Regardless of residing in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer insights and services to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of global services have 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 because of time reporting bad HCM data information entry errors badly interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it need 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 amount of time 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 complexity any place you look right eventually constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 basic and technology is enabling us to kind of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work more detailed 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 anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to type of the level of intricacy there's more and more advantages being organ or being provided by businesses throughout the world so once again you're simply looking to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or genuine difficult sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an impact perspective on employees it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful impact on people's wellness and lots of other elements if individuals aren't paid uh I've constantly been surprised entering this Market kind of the last five to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is important to guarantee that tasks like Wi-Fi International and other important matters are done properly. Utilizing the first International Payments very first payroll payment service is a great preliminary step towards supplying a detailed payroll option for staff members worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and bank accounts needed for worldwide payroll are key factors in accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we know how how important 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 everybody that's associated with those processes and likewise so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and type of shot to return to everybody so proceeding look why do business pick to main separate savings account there are companies out there doing exactly this for particular countries and I have actually worked in a company or lots of organizations doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing extra work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think people have actually got so utilized to we need a brand-new checking 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 norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs altering but ultimately people are really stuck with what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving numerous savings account but there's a huge quantity of complexity goes with establishing a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is substantial however I believe the honest answer is modification um people have not been able to change or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or so there is a lot to keep an eye on and this approach does posture several difficulties um so Johnny could you tell us about those difficulties yeah of course 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 manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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