Find out more about Papaya Global Peo Reviews ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and dependable method of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Employee Portal provides workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to international employees no matter the number of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional benefits companies in every country, produce regional accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total employment expenses distributed per place, overall work costs per cycle and a lot more.
Worldwide, I have actually shown management and tactical proficiency in assisting massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 nations. 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 a pleasure to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of different functions on the company side and likewise on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I truly 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 really really dreary and I want 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 Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they add more intricacy the worldwide Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the globe in the traditional payroll design there's typically a frustrating number of various systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely really standard there's no genuine consistency framework we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in global payroll the less of an image they see an absence of presence also extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of international companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors badly communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the data is shipped to the wrong location 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 cash around the globe payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and say what is it what does not need to be included right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is allowing 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 Checking account Particulars varying banking requirements and setup procedures is absolutely important that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I've split 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 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on well-being and the payment landscape is becoming significantly elaborate. Services are constantly introducing new benefits and payment alternatives, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into different teams, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's technologically innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the company's most significant cost, should be processed properly and on time. Even minor hold-ups can negatively affect employees' wellness and have significant consequences. Therefore, it's crucial to focus on precise and timely payments.
payroll group get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all become aware of it when it goes wrong everyone 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 stuff is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a great primary step um offering an end-to-end payroll option for your staff members internationally once again I think is another big um procedure again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of companies and minimizing the number of tools platforms and bank accounts they need for their International 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've never 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 grievances where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know how how crucial a function 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 associated with those processes and likewise so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and really see what was going on and sort of try to get back to everyone so carrying on look why do companies choose to primary different checking account there are services out there doing precisely this for specific nations and I've worked in a business or many services doing precisely that I can state it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think individuals have actually got so used to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires changing but eventually people are really stuck to what they recognize
with ideal um modification is a challenging thing all of us do not like modification um so I believe it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having keeping several checking account but there's a substantial amount of complexity opts for establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is substantial however I think the honest response is change um individuals haven't been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to keep an eye on and this technique does present a number of difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched 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 employees you should have a corner workplace with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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