Find out more about Does Papaya Global Payroll Have An App ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and reliable technique of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits packages to international employees despite the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local advantages suppliers in every country, produce regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total employment expenses dispersed per area, total employment expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic knowledge in directing massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for many influential companies in the world we supply payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you are in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided 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 various roles on the service provider side and likewise on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays 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 sort of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely bleak and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up which must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more typical and handling them ends up being increasingly more complicated Worldwide organizations are looking to find Solutions and new methods to streamline procedures particularly from a payroll and cross-border payment viewpoint lots of organizations maintain separate checking account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different savings account often in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies enhance the episode complex processes of
Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and discover how improving worldwide payroll payments can change them from a burdensome task into a tactical possession.
Managing payroll internationally is a complicated task due to various policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of employees and businesses adds to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically result in manual processes, information silos, and a lack of combination, causing inconsistencies and inefficiencies. Regardless of residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in global payroll the less of a photo they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global companies have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the average expense 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 world payroll and payments don't run smoothly if they depend on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require to be included ideal and what does
it need to be considered there's varying Bank information 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely important however all over 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 sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to kind of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm always impressed when individuals state I've split payroll and payment um if you walk down the street and asked anyone 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 typically split and cut up um eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial to add to sort of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so again you're simply looking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine difficult kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact point of view on workers it is definitely crucial 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 biggest harmful result on individuals's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi Global and other essential matters are done correctly. Utilizing the very first International Payments first payroll payment service is a fantastic initial step towards offering a thorough payroll service for workers worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts essential for worldwide payroll are essential factors in accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Ultimately, we don't do it for the appreciation.
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 involved in those processes and likewise so think of sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly 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 certainly be an intriguing task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do companies pick to primary separate bank accounts there are companies out there doing exactly this for particular countries and I have actually worked in a business or numerous businesses doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not have to and any person that's managing that process 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 believe many reasons one is it's the standard I think individuals have actually got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a process that needs looking at it requires altering however eventually individuals are really stuck to what they recognize
with best um modification is a tough thing all of us don't like modification um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping numerous bank accounts but there's a substantial amount of complexity goes with setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is big but I think the truthful response is change um people haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to keep an eye on and this technique does position numerous difficulties um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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