Find out more about Papaya Global Hr Software For Startups ... 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 acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive benefits packages to international staff members regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment costs dispersed per place, total work costs per cycle and far more.
environments across the globe I provided leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Enterprise clients and options along with functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. 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 company. With over a decade of experience in the payments industry, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually sort of had a range of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes 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 raining here it's extremely really dreary and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll also go over a wrap-up and that ought to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and handling them ends up being increasingly more intricate International companies are seeking to discover Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment viewpoint many organizations keep different checking account just for payroll while some have several accounts in various nations does it make good sense for business to keep different savings account in some cases in different countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex challenge for organizations running worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, discover how business forecast payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a difficult job into a strategic asset.
Managing payroll internationally is a challenging task due to numerous regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and businesses adds to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, resulting in disparities and inadequacies. Despite living in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to supply insights and solutions to simplify and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company spends on global payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international companies have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they depend on the required several processes 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 challenges business face when they're making payments to employees or otherwise that's a great concern 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 about 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 complexity anywhere you look best eventually constructing a knowledge base is definitely crucial however everywhere 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 sort 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 fundamental and technology is permitting us to sort of move on with that it also also to contribute to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work closer together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry 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 people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of complexity there's more and more benefits being organ or being offered by services throughout the world so again you're just aiming to add more and more payments to this already intricate 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 number of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any organization has from a cost point of view from an impact viewpoint on staff members it is absolutely important that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental effect on individuals's wellness and lots of other elements if individuals aren't paid uh I've constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all 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 think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll option for your workers worldwide once again I believe is another substantial um process once again lining up and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we know how how important 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 also so think of sorry I'm just 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 certain we're discussing numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of try to get back to everybody so moving on look why do companies choose to main separate bank accounts there are companies out there doing precisely this for particular countries and I've operated in a service or lots of businesses doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we don't have to and anybody that's dealing with 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 believe lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs altering however ultimately people are really stuck to what they recognize
with best um modification is a difficult thing we all don't like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving several savings account but there's a substantial quantity of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the complexity is substantial but I believe the sincere response is change um individuals haven't been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings 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 alter however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this technique does position numerous obstacles um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I just did you switched our Business 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 are worthy of a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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