Find out more about Papaya Global Guam ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trustworthy approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a significant amount of time each month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to worldwide employees no matter the variety of staff members in the business. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every country, create regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall employment costs distributed per place, total employment expenses per cycle and a lot more.
Worldwide, I have actually shown management and tactical know-how in assisting massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for managing payroll methods, as discussed by Mark. My function includes handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for a lot of prominent business on the planet we offer payroll payments and labor force management to all staff member enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon great evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of various functions on the company side and also on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather 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 actually 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 wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to optimize working capital, and discover how streamlining global payroll payments can transform them from a burdensome job into a strategic asset.
Managing payroll globally is a challenging task due to different policies, compliance requirements, information security issues, and banking rules. The sheer number of employees and companies adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and an absence of combination, leading to disparities and ineffectiveness. In spite of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and solutions to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a service spends on international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global 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 mistakes are because of time reporting bad HCM information information entry errors poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they rely on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good question I constantly toss this back and say what is it what doesn't need to be consisted of best 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 nation there's payment amount of time there's payment capabilities 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 intricacy anywhere you look best eventually building a knowledge base is definitely important but 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 take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of progress with that it also also to add to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody 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 eventually 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 but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the payment landscape is ending up being progressively complex. Services are continuously presenting new benefits and payment options, which contributes to the general complexity. Large corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my viewpoint, this does not need to be the case. In today's technologically innovative age, there's no validation for maintaining troublesome procedures. Payroll, the business's biggest cost, need to be processed correctly and on time. Even minor hold-ups can negatively impact workers' wellness and have far-reaching repercussions. For that reason, it's important to focus on accurate and prompt payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally as well. For that reason, it is essential to make sure that jobs like Wi-Fi International and other important matters are done correctly. Using the first International Payments very first payroll payment service is an excellent preliminary action towards providing a comprehensive payroll service for workers worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts essential for worldwide payroll are key consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how important 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 everybody that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na say envision 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job attempting to clean all those up for sure oh absolutely 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 try to browse them and actually see what was going on and kind of shot to return to everyone so proceeding appearance why do companies choose to primary different checking account there are organizations out there doing exactly this for particular nations and I've operated in a service or lots of businesses doing exactly that I can state it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not developing additional work for anyone where we don't need to and anyone that's dealing with 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 amount that we are I believe numerous reasons one is it's the standard I believe people have got so used to we need a new bank account we open an entity and rightly 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 standard and the norm individuals have embraced 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 many other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs altering however ultimately people are extremely stuck to what they're familiar
with best um change is a tough thing all of us don't like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping multiple savings account however there's a substantial quantity of intricacy opts for setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for private people so the complexity is substantial but I believe the sincere answer is modification um people have not been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does position a number of challenges um so Johnny might you inform us about those obstacles 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 handle our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using 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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