Find out more about Does Papaya Global Payroll Integrate With Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and reliable technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Worker Portal supplies workers with the ability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to global workers despite the number of employees in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall employment costs distributed per area, total work expenses per cycle and much more.
Internationally, I have actually demonstrated management and tactical know-how in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for managing payroll methods, as mentioned by Mark. My role involves handling and developing external collaborations, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I have actually kind of had a range of various functions on the supplier side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so 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 already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly 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 really really bleak and I want I was somewhere else at this moment in time okay 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 business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll also discuss a wrap-up which ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and handling them ends up being more and more intricate Global companies are seeking to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment standpoint many companies preserve different checking account just for payroll while some have numerous accounts in various countries does it make sense for business to preserve separate savings account in some cases in different countries it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business improve the episode complex processes of
making payroll payments accurately effectively securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most significantly policies compliance information security and banking rules then there are the sheer numbers they add additional intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll model there's often a frustrating variety of different systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really extremely standard there's no genuine consistency structure we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which 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 companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of global businesses have expressed 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 due to time reporting bad HCM information data entry mistakes badly interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they depend on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're paying to employees or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of best 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 abilities 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate 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 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the settlement landscape is ending up being significantly elaborate. Companies are constantly introducing brand-new advantages and payment choices, which adds to the total intricacy. Big corporations often divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my opinion, this doesn't need to hold true. In today's highly sophisticated era, there's no justification for maintaining troublesome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even minor delays can negatively affect workers' wellness and have far-reaching effects. Therefore, it's critical to focus on precise and prompt payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just notice when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally also. For that reason, it is important to ensure that tasks like Wi-Fi International and other vital matters are done properly. Using the first International Payments very first payroll payment option is a great preliminary step towards providing a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and checking account required for international payroll are essential factors in attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know how how essential 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 everybody that's associated with those processes and also so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions imagine getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and type of shot to get back to everybody so carrying on appearance why do companies choose to main different checking account there are businesses out there doing precisely this for particular countries and I have actually worked in a business or numerous organizations doing precisely that I can state it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not creating extra work for anybody where we don't need to and anyone that's handling that process I 'd be interested to hear your thoughts 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 think people have got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires altering however ultimately individuals are very stuck with what they're familiar
with ideal um change is a hard thing all of us do not like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having keeping several bank accounts however there's a substantial amount of intricacy goes with setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is substantial but I believe the honest answer is change um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to track and this technique does pose a number of challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed 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 Global staff members you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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