Find out more about Papaya Global French Polynesia ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy method of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Employee Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to international employees regardless of the number of staff members in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, create local accounts and have a minimum number of employees.
The HR capabilities provided by Worldwide HR encompass various functions such as keeping track of holiday time, making sure compliance, helping with the procedure of inviting brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for storing employees' files, and providing support for work allow treatments in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs distributed per area, overall work costs per cycle and much more.
environments across the globe I offered management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Enterprise customers and options in addition to functioning as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, 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 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of various roles on the company side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely gloomy and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll also review a wrap-up and that needs 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 increasingly more common and managing them ends up being increasingly more complex Global organizations are seeking to discover Solutions and brand-new methods to streamline procedures particularly from a payroll and cross-border payment standpoint many organizations preserve different savings account just for payroll while some have several accounts in different countries does it make good sense for companies to maintain separate checking account sometimes in various nations it does but just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for businesses running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a burdensome task into a strategic possession.
Handling payroll internationally is an overwhelming task due to different policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of workers and organizations contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain 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. In spite of residing in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and options to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they rely on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't need to be included ideal and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 need to pay from the customer's own in-country account so there's complexity anywhere you look ideal ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort 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 definitely fundamental and innovation is enabling us to kind of move on with that it also too to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely necessary that payroll and finance groups work closer together than ever um I'm always amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to sort of the level of intricacy there's more and more advantages being organ or being offered by companies across the world so again you're just wanting to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine tough sort of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to create extra handoffs in the processes 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 a period of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from an expense point of view from an effect point of view on employees it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging result on individuals's wellness and many other factors if individuals aren't paid uh I have actually constantly been amazed coming into this Market type of the last five to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only discover when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally also. For that reason, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the first Worldwide Payments first payroll payment option is a terrific preliminary action towards providing a detailed payroll option for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and savings account required for international payroll are essential factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as prepared. Eventually, we do not do it for the gratitude.
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 simple as possible for everyone that's associated with those processes and also so think of sorry I'm simply I was simply gon na state imagine the amount 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 hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job attempting 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 kind of try to return to everybody so carrying on look why do companies choose to main separate savings account there are companies out there doing precisely this for particular countries and I have actually worked in a company or numerous companies doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we don't have to and anyone that's dealing with 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 amount that we are I think numerous reasons one is it's the standard I think people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require 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 standard and the standard the people 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 variety I believe this is a procedure that requires taking a look at it requires changing but eventually people are extremely stuck to what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having preserving several bank accounts however there's a substantial quantity of intricacy goes with setting up a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is huge but I think the honest response is change um people have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to monitor and this technique does pose a number of obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I 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 improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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