Find out more about Papaya Global Cook Islands ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and trusted approach of paying to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, conserving me a significant quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global employees regardless of the number of staff members in the business. 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 benefits providers in every nation, develop local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall work costs distributed per location, total work costs per cycle and a lot more.
Worldwide, I have actually shown leadership and tactical competence in assisting massive populations of over 100,000 staff members across 170 nations. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My function involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually always mesmerized 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 type of had a range of various functions on the supplier side and likewise on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days 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 sort of like see where everybody originates from and I really 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 drizzling here it's extremely really gloomy and I wish 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 looking at the obstacle years of managing Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical property uh we'll also discuss a recap and that must leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and managing them becomes a growing number of complex International organizations are aiming to discover Solutions and brand-new ways to streamline processes specifically from a payroll and cross-border payment viewpoint lots of companies preserve different bank account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep separate checking account in some cases in different nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business simplify the episode complex procedures of
Making sure accurate, effective, and timely payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to optimize working capital, and discover how simplifying international payroll payments can transform them from a difficult job into a strategic asset.
Handling payroll internationally is an overwhelming job due to different policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and businesses adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and an absence of integration, resulting in disparities and ineffectiveness. Despite living in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to provide insights and services to streamline and optimize global payroll payments.
about it to provide 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 rather frankly the more a service spends on worldwide payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide organizations have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors improperly interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they count on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're paying to staff members or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be consisted of best and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly payments no if but some babies 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 think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to type of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is becoming progressively elaborate. Services are continually presenting brand-new advantages and payment choices, which contributes to the overall intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't have to be the case. In today's technologically sophisticated period, there's no validation for keeping troublesome treatments. Payroll, the business's most significant expenditure, need to be processed correctly and on time. Even slight hold-ups can adversely impact employees' wellness and have significant effects. Therefore, it's important to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment service is a great initial step um offering an end-to-end payroll option for your staff members internationally again I believe is another substantial um procedure again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of organizations and decreasing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how crucial a function 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 envision sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of shot to get back to everyone so proceeding look why do business select to main different savings account there are companies out there doing precisely this for particular countries and I've operated in an organization or many organizations doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anyone where we don't need to and anybody that's managing 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 lots of factors one is it's the requirement I think people have actually got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering but eventually people are very stuck to what they recognize
with right um change is a difficult thing all of us don't like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous bank accounts but there's a substantial quantity of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is huge but I believe the truthful response is change um people haven't had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this method does present numerous challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan