Find out more about Papaya Global Herzliya ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll procedure, conserving me a significant amount of time monthly. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Employee Portal provides staff members with the capability to access and view important documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps business use competitive benefits packages to global workers despite the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, develop local accounts and have a minimum number of staff members.
The HR abilities offered by Global HR encompass various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to departing ones, using a safe and secure online platform for saving employees' documents, and providing assistance for work allow treatments in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall work expenses distributed per place, total employment expenses per cycle and much more.
environments around the world I offered management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Enterprise customers and services in addition to functioning as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually kind of had a range of various functions on the service provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just 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 certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is particularly useful for international companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they include more complexity the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating number of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely very basic there's no real consistency framework we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of international services have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the information is shipped to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be included right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 any place you look ideal ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential 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 Checking account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance groups work better together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to add to sort of the level of complexity there's more and more advantages being organ or being used by companies across the world so again you're simply looking to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or genuine difficult sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and an age that you know that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any service has from an expense perspective from an effect perspective on staff members it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant detrimental impact on people's wellness and numerous other elements if people aren't paid uh I have actually constantly been amazed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just discover when things fail. However, when things go right, it's viewed as just a routine job. This is how it's perceived externally too. Therefore, it is important to guarantee that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the first International Payments very first payroll payment service is an excellent initial step towards offering a detailed payroll solution for workers worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and bank accounts essential for international payroll are crucial factors in accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow 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 also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean 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 browse them and in fact see what was going on and sort of shot to get back to everyone so proceeding look why do companies choose to main separate checking account there are services out there doing precisely this for specific nations and I have actually operated in a service or numerous organizations doing precisely that I can say it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't have to and anyone that's dealing with that process I 'd be interested to hear your ideas 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 think individuals have got so used to we require a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs changing but ultimately individuals are really stuck to what they're familiar
with ideal um modification is a difficult thing all of us do not like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving numerous savings account however there's a substantial amount of intricacy chooses establishing a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is big however I believe the honest answer is modification um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century or two there is a lot to track and this method does pose numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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