Find out more about Papaya Global Phone Number ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and reputable method of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a substantial quantity of time every month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global workers regardless of the number of employees in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits service providers in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work expenses dispersed per location, overall work expenses per cycle and much more.
environments around the world I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across business handling and structure external relationships supporting Business customers and options along with acting as an advisor 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 distinguished Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force 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 present himself. Good day to all, despite your place. 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 organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly captivated 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 type of had a range of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately 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 already just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it remains 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 really very gloomy and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise review a wrap-up which should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more common and managing them ends up being more and more complicated International companies are seeking to discover Solutions and new ways to improve procedures specifically from a payroll and cross-border payment standpoint many organizations preserve different checking account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep separate savings account sometimes in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business simplify the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and find how simplifying international payroll payments can change them from a challenging task into a strategic possession.
Managing payroll worldwide is an overwhelming job due to numerous policies, compliance requirements, information security concerns, and banking rules. The large number of staff members and organizations adds to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual processes, information silos, and a lack of combination, resulting in disparities and inefficiencies. Despite living in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and options to simplify and optimize global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on global payroll the less of a photo they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to staff members or otherwise that's a great question I constantly throw this back and say what is it what does not require to be included ideal and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to type of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to contribute to sort of the level of complexity there's more and more benefits being organ or being used by businesses throughout the world so once again you're simply aiming to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real challenges or real difficult type of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any service has from an expense perspective from an impact point of view on workers it is definitely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on people's wellness and many other factors if individuals aren't paid uh I've always been astonished coming into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only notice when things fail. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally as well. Therefore, it is important to guarantee that tasks like Wi-Fi Global and other essential matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a fantastic preliminary action towards providing an extensive payroll service for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account essential for global payroll are key factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Eventually, we do not do it for the appreciation.
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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly 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 look through them and in fact see what was going on and kind of try to get back to everyone so moving on appearance why do companies choose to primary different bank accounts there are companies out there doing exactly this for specific countries and I have actually worked in a company or many businesses doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not need to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I think people have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I think this is a process that requires looking at it requires changing but eventually people are very stuck to what they recognize
with ideal um change is a tough thing we all don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving multiple bank accounts however there's a huge quantity of intricacy opts for setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is big but I think the honest response is change um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or two there is a lot to monitor and this approach does position a number of 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 recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
Papaya Global Bhutan