Find out more about Papaya Global Philippines ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages bundles to international staff members despite the number of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages companies in every nation, create regional accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs dispersed per area, overall employment costs per cycle and much more.
Worldwide, I have actually shown management and tactical proficiency in assisting massive populations of over 100,000 workers across 170 nations. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My function involves handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to fulfill 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 market, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually sort of had a variety of various roles on the company side and also on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing 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 everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very bleak and I want 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 taking a look at the challenge years of handling Global payroll why companies keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise review a recap and that needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and managing them ends up being more and more intricate Worldwide companies are looking to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment viewpoint lots of companies preserve separate bank account just for payroll while some have numerous accounts in various nations does it make good sense for business to preserve separate savings account often in different nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business enhance the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most notably policies compliance information security and banking guidelines then there are the large numbers they include additional intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the conventional payroll model there's typically a frustrating variety of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very really basic there's no genuine consistency structure we're living in an age 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 just blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of global organizations have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong place the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what does not need to be included ideal and what does
it need 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 time frames there's payment abilities 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 client's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 essential and technology is allowing us to sort of progress with that it also also to contribute to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when people 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 split the payroll payment from calculation I would say no so why do we as a market 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 data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on wellness and the payment landscape is ending up being progressively complex. Companies are continuously presenting new benefits and payment options, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not need to hold true. In today's technically advanced age, there's no justification for maintaining troublesome procedures. Payroll, the company's biggest expense, should be processed properly and on time. Even slight hold-ups can negatively impact workers' wellness and have far-reaching consequences. Therefore, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done properly so leveraging the first Global Payments first payroll payment option is a terrific initial step um providing an end-to-end payroll option for your staff members globally again I believe is another big um process again aligning and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and lowering the number of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway 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 easy as possible for everyone that's associated with those processes and also so think of sorry I'm just I was just 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 potentially Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and type of try to get back to everybody so moving on look why do business select to primary different checking account there are businesses out there doing precisely this for particular nations and I have actually worked in a company or numerous businesses doing exactly that I can say it does not constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and any person 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 think many reasons one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe 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 looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but eventually people are very stuck with what they recognize
with ideal um modification is a hard thing we all do not like change um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having preserving numerous savings account but there's a big quantity of complexity goes with setting up a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private people so the intricacy is huge but I believe the truthful response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does pose numerous challenges um so Johnny might you tell 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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