Find out more about How Papaya Global Payroll Works ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a protected and trustworthy method of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits plans to global workers despite the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, create regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR encompass different functions such as monitoring vacation time, guaranteeing compliance, assisting in the procedure of welcoming new employees and bidding goodbye to leaving ones, using a secure online platform for keeping workers' files, and providing support for work allow procedures in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment expenses dispersed per place, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated management and strategic know-how in guiding massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment 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 market, I have focused on payroll and payment services for the past seven years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of different roles on the company side and likewise on the vendor side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple 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 rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone 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 raining here it's really very gloomy and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most significantly policies compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the global Workforce is presently 3 and a half billion people 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 factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming variety of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or very extremely fundamental there's no real consistency framework we're living in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international organizations have revealed that they do not 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 data data entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they depend on the required multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a great concern I constantly toss this back and state what is it what does not require to be included best and what does
it need to be thought about there's differing 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 need to pay from the customer's own in-country account so there's intricacy any place you look best ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly 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 in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to type of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the settlement landscape is becoming progressively complex. Organizations are continuously introducing new advantages and payment options, which contributes to the total complexity. Big corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my viewpoint, this does not need to be the case. In today's technically innovative era, there's no reason for preserving troublesome procedures. Payroll, the business's greatest cost, need to be processed correctly and on time. Even slight delays can adversely impact workers' well-being and have significant effects. For that reason, it's crucial to focus on accurate and timely payments.
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally too. Therefore, it is necessary to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the first International Payments first payroll payment service is an excellent preliminary step towards supplying a comprehensive payroll solution for employees worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and savings account needed for global payroll are key factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how crucial 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 procedures and also so imagine sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can't imagine 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 really see what was going on and type of shot to return to everyone so moving on appearance why do business pick to main separate checking account there are companies out there doing precisely this for specific countries and I've operated in a company or many companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for anyone where we don't need to and anybody that's managing 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 amount that we are I believe lots of factors one is it's the requirement I believe individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs changing however eventually individuals are very stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving multiple savings account but there's a big quantity of complexity goes with setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is substantial but I think the sincere answer is modification um individuals have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century approximately there is a lot to keep track of and this method does pose numerous obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety 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 workers you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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