Find out more about Papaya Global Ipo ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and dependable approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll procedure, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Worker Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits plans to worldwide staff members regardless of the variety of staff members in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every nation, produce local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work costs dispersed per area, overall work costs per cycle and a lot more.
environments across the globe I supplied management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Enterprise clients and options in addition to functioning as an advisor for those of you that don't 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 prominent companies worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the provider side and likewise on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it remains 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 extremely very gloomy and I want I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll also review a recap and that should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them ends up being increasingly more complicated Worldwide companies are looking to find Solutions and new ways to improve procedures especially from a payroll and cross-border payment standpoint lots of organizations maintain different bank account just for payroll while some have numerous accounts in different countries does it make sense for companies to maintain different checking account in some cases in different nations it does but just for payroll exists a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies simplify the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex challenge for organizations operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll costs to enhance working capital, and discover how enhancing international payroll payments can transform them from a challenging task into a strategic asset.
Handling payroll worldwide is a complicated task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large variety of workers and businesses adds to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, data silos, and an absence of combination, leading to disparities and inadequacies. Despite residing in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar aims to provide insights and options to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes poorly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be included ideal and what does
it require to be thought about 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is definitely critical but everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is permitting us to sort of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to contribute to type of the level of intricacy there's a growing number of benefits being organ or being provided by companies throughout the world so once again you're just looking to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine challenges or real challenging kind 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 state that the bigger a company 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 teams feeding details into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from an expense point of view from an effect perspective on employees it is absolutely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful result on individuals's well-being and lots of other elements if people aren't paid uh I have actually always been amazed coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has 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 workers or not um but eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply 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 absolutely essential that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um offering an end-to-end payroll solution for your employees globally once again I think is another huge um process again aligning and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of services and reducing the number of tools platforms and savings account they require for their Global 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how crucial 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 simple as possible for everybody that's associated with those procedures and also so think of sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and type of shot to get back to everybody so carrying on appearance why do business pick to main different checking account there are companies out there doing precisely this for specific nations and I've operated in a service or numerous businesses doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for anyone where we do not need to and any person that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I believe people have actually got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires altering however ultimately individuals are extremely stuck with what they recognize
with right um modification is a hard thing all of us do not like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving numerous checking account but there's a big amount of intricacy chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial however I believe the sincere response is change um people haven't had the ability to alter or have not had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century approximately there is a lot to track and this technique does present numerous challenges um so Johnny could you tell us about those challenges yeah obviously 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 Worldwide workers you are worthy of a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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