Find out more about Papaya Global Career ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a significant amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Employee Website provides workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, 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 use competitive benefits packages to global staff members regardless of the variety of employees in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
The HR capabilities offered by International HR include various functions such as monitoring trip time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding farewell to leaving ones, providing a safe and secure online platform for saving employees' files, and supplying support for work allow treatments in case your employees require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall work expenses dispersed per area, total employment expenses per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and building external relationships supporting Business customers and services along with functioning as a consultant for those of you that don't understand who papaya International 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 companies worldwide. We focus on supplying payroll and labor force management services to workers 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, despite your place. It's an enjoyment 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 market, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of different roles on the provider side and likewise on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind 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 really extremely gloomy and I want I was elsewhere 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 managing International payroll why companies keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also go over a wrap-up which ought to leave his time at the really really 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 Global labor forces end up being more and more typical and handling them becomes more and more complicated International organizations are aiming to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment standpoint numerous organizations keep separate savings account just for payroll while some have numerous accounts in different countries does it make sense for business to preserve separate checking account often in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business streamline the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex difficulty for companies running internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll costs to enhance working capital, and discover how simplifying global payroll payments can change them from a challenging job into a tactical property.
Handling payroll globally is a daunting task due to numerous regulations, compliance requirements, data security issues, and banking rules. The sheer variety of workers and businesses adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems often result in manual processes, data silos, and an absence of combination, causing inconsistencies and inefficiencies. Regardless of living in an age of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and services to simplify and enhance global payroll payments.
about it to give you a concept 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 offers me sleepless nights and quite frankly the more a company invests in worldwide payroll the less of an image they see a lack of visibility also encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes improperly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles company face when they're paying to staff members or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities 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 intricacy wherever you look right eventually developing a knowledge base is absolutely critical however all over 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 kind 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 fundamental and innovation is enabling us to type of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on wellness and the settlement landscape is becoming significantly elaborate. Companies are continually presenting new benefits and payment alternatives, which contributes to the general intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated era, there's no reason for keeping cumbersome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even minor hold-ups can adversely affect employees' well-being and have significant repercussions. Therefore, it's important to focus on accurate and prompt payments.
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally as well. Therefore, it is vital to make sure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first Worldwide Payments first payroll payment option is an excellent initial action towards providing a detailed payroll service for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and checking account necessary for international payroll are crucial factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow we understand how how important 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 everyone that's associated with those procedures and likewise so think of sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that many 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 a fascinating job trying to clean all those up for sure oh definitely 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 check out them and actually see what was going on and type of shot to return to everyone so moving on appearance why do business select to main separate savings account there are businesses out there doing exactly this for particular nations and I have actually operated in a business or numerous services doing precisely that I can state it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't have to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe people have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a range I believe this is a procedure that needs looking at it requires altering but eventually individuals are extremely stuck with what they recognize
with right um change is a difficult thing we all do not like modification um so I think it's just type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving several checking account but there's a substantial amount of complexity goes with establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is substantial however I think the truthful response is change um people have not been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to keep an eye on and this approach does present several obstacles um so Johnny could you inform us about those challenges 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 tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
Papaya Global Bhutan