Find out more about Papaya Global Founded ... 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 gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a secure and reliable approach of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Worker Portal offers staff members with the ability to access and view crucial documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to global staff members no matter the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local benefits providers in every nation, produce local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses distributed per area, overall employment costs per cycle and much more.
environments around the world I offered leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to employees 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, despite your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've sort of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two to join we all 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 type of like see where everybody comes 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 really gloomy and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and prompt payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to enhance working capital, and discover how enhancing global payroll payments can change them from a troublesome task into a strategic property.
Managing payroll globally is a daunting job due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and companies contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inadequacies. In spite of living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and options to streamline and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more an organization invests in international payroll the less of a picture they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they count on the needed 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 challenges service face when they're paying to employees or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the client's own in-country account so there's complexity anywhere you look best ultimately developing a knowledge base is definitely vital but all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type 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 type of progress with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to add to type of the level of complexity there's increasingly more advantages being organ or being used by companies throughout the world so once again you're just looking to add more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine obstacles or real difficult sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any company has from a cost viewpoint from an effect viewpoint on employees it is absolutely important 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 have to be done right it has the greatest destructive impact on people's well-being and many other factors if individuals aren't paid uh I've constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately 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 just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first Global Payments first payroll payment service is a great initial step um providing an end-to-end payroll service for your staff members internationally again I think is another substantial um procedure once again aligning and ensuring you have standardization International procedures all of those things are absolutely crucial to success success of organizations and reducing the number of tools platforms and savings account 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 thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential a role 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 easy as possible for everybody that's associated with those processes and also so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of shot to return to everyone so proceeding appearance why do business pick to primary separate checking account there are organizations out there doing exactly this for specific countries and I have actually worked in a company or lots of organizations doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not have to and any person that's handling 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 standard I believe people have got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires looking at it requires changing but ultimately individuals are very stuck with what they recognize
with ideal um modification is a tough thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having preserving numerous checking account however there's a big amount of intricacy goes with establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is huge but I believe the honest answer is change um individuals have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to track and this approach does present several difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just 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 International workers you are worthy of a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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