Find out more about Papaya Global Saint Helena ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and secure and dependable technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies offer competitive advantages bundles to global staff members regardless of the number of employees in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every nation, develop local accounts and have a minimum number of staff members.
The HR capabilities provided by International HR incorporate numerous functions such as keeping track of trip time, ensuring compliance, helping with the process of inviting brand-new employees and bidding goodbye to leaving ones, offering a protected online platform for keeping employees' documents, and offering assistance for work permit treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per place, overall employment expenses 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 nations today I'm the payroll methods for as Mark said I work across the business handling and building external relationships supporting Business customers and solutions along with serving as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually 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 raining here it's extremely extremely gloomy and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic property uh we'll also discuss a recap 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 transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and handling them becomes increasingly more complicated Global organizations are aiming to find Solutions and new methods to enhance processes especially from a payroll and cross-border payment standpoint lots of organizations maintain different savings account just for payroll while some have several accounts in different nations does it make good sense for companies to maintain separate bank accounts in some cases in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business simplify the episode complex procedures of
Ensuring precise, effective, and prompt payroll payments is a complex difficulty for organizations operating internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll costs to enhance working capital, and find how simplifying international payroll payments can change them from a difficult job into a strategic asset.
Handling payroll globally is a challenging task due to various regulations, compliance requirements, data security issues, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of combination, resulting in disparities and inadequacies. Despite living in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide organizations have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes badly communicated hires and terminations as well as absence management and system configurations and after that when you round all of it off and the information is delivered to the incorrect location the average cost of an international 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 smoothly if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it need to be thought of there's varying Bank details 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 need 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 best ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move on with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance groups work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation 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 also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more essential to contribute to sort of the level of complexity there's a growing number of advantages being organ or being used by organizations across the world so once again you're simply wanting to include increasingly more payments to this already intricate landscape so if you kind 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 difficulties or genuine difficult kind of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we operate in they just 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 an era that you know that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any service has from a cost perspective from an impact viewpoint on staff members it is definitely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and lots of other factors if people aren't paid uh I have actually constantly been impressed entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things go wrong. However, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first International Payments first payroll payment option is a terrific initial step towards supplying a detailed payroll solution for workers worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account necessary for worldwide payroll are crucial consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how crucial a role 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 likewise so picture sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting 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 require days of the week to try to browse them and actually see what was going on and type of try to return to everyone so proceeding appearance why do companies select to main different checking account there are organizations out there doing precisely this for specific nations and I have actually operated in a business or many companies doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra 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 think that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced 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 methods um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires changing but ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a hard thing all of us do not like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having maintaining several bank accounts however there's a substantial quantity of intricacy opts for setting up a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial but I believe the truthful response is modification um individuals haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to track and this technique does posture several obstacles um so Johnny might you tell us about those difficulties yeah naturally 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 International staff members you are worthy of 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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