Find out more about Papaya Global Bermuda ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, saving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to international employees despite the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs dispersed per location, overall work expenses per cycle and a lot more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise clients and services along with acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure 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 years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've kind of had a range of different roles on the company side and also on the vendor side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very dreary and I want I was elsewhere 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 difficulty years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they add additional complexity the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's often an overwhelming variety of various systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're living in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of a photo they see a lack of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global businesses have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the wrong place the average cost of a global information 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 efficiently if they count on the required several procedures 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 a good concern I always toss this back and say what is it what does not require to be included best and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to type of move forward with that it likewise too to add to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I'm always impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession 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 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to add to type of the level of complexity there's a growing number of advantages being organ or being used by businesses across the world so once again you're just seeking to include increasingly more payments to this currently complicated landscape so if you type 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 challenges or genuine difficult kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams 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 extra handoffs at the same times 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 age of tech and an era that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from an expense point of view from an impact viewpoint on employees it is definitely critical 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 biggest destructive result on people's well-being and numerous other factors if people aren't paid uh I have actually constantly been amazed coming into this Market sort 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 anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is vital to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the first International Payments first payroll payment solution is a terrific preliminary action towards providing an extensive payroll solution for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and savings account necessary for international payroll are key consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we understand how how crucial 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 simple as possible for everyone that's involved in those procedures and likewise so envision sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to get back to everyone so carrying on appearance why do companies select to primary different bank accounts there are organizations out there doing precisely this for specific nations and I've operated in a service or lots of services doing exactly that I can say it doesn't constantly feel effective and it does develop 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 anyone that's handling that process 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 believe numerous factors one is it's the standard I think individuals have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a procedure that requires looking at it requires changing but eventually individuals are really stuck with what they recognize
with right um modification is a tough thing we all don't like change um so I think it's simply type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having keeping numerous savings account however there's a substantial quantity of intricacy opts for establishing a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I think the sincere answer is change um people have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to track and this technique does present numerous difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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