Find out more about How Does Papaya Global Payroll Work ... 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 acquired a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and reputable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Staff member Website offers employees with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to global workers no matter the number of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses distributed per area, overall employment costs per cycle and much more.
Internationally, I have actually demonstrated management and tactical knowledge in directing massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My function involves handling and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for a lot of prominent business on the planet we supply payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great evening depending on where you are in the world it's charming to meet 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 been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the trouble 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've type of had a range of various functions on the provider side and also on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply 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 is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely dreary and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll likewise discuss a recap and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and managing them ends up being more and more intricate International companies are seeking to find Solutions and brand-new methods to streamline procedures especially from a payroll and cross-border payment viewpoint lots of organizations preserve separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to maintain separate bank accounts in some cases in different nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business improve the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for companies running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how streamlining international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll worldwide is an overwhelming task due to different policies, compliance requirements, data security concerns, and banking rules. The large variety of employees and services contributes to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual processes, information silos, and an absence of integration, leading to disparities and inefficiencies. In spite of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and services to simplify and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of international organizations have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes poorly interacted hires and terminations in addition to absence management and system setups and then when you round all of it 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 as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's an excellent question I always throw this back and state what is it what doesn't require to be included ideal and what does
it require 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 amount of time 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 any place you look best eventually developing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely important that payroll and financing teams work better together than ever um I'm always surprised when people state I have actually split 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 estimation 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to type of the level of complexity there's a growing number of benefits being organ or being used by businesses throughout the world so again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of years I would absolutely state that the larger an organization 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 info into the next function as it were that's in fact managing the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any company has from a cost point of view from an impact point of view on staff members it is absolutely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental effect on people's wellness and many other factors if people aren't paid uh I have actually constantly been astonished entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um offering an end-to-end payroll option for your employees worldwide again I think is another big um procedure again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of 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 five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how important 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 everyone that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that lots of 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 task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and sort of shot to get back to everyone so carrying on appearance why do companies choose to main separate savings account there are businesses out there doing exactly this for specific nations and I've operated in a company or numerous services doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not deliberately doing that we're not producing extra work for anyone where we don't need to and anybody 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 believe lots of reasons one is it's the standard I believe people have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering but ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a difficult thing all of us don't like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having maintaining several bank accounts however there's a substantial amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is substantial but I think the honest response is modification um individuals haven't had the ability to alter or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we have actually constantly 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 understand what might practically be determined to be the next Century or two there is a lot to keep track of and this technique does pose several challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I just did you switched 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 Global employees you should have a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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