Find out more about Papaya Global For Payroll ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a secure and trusted method of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll procedure, saving me a substantial quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Worker Website offers workers with the ability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global helps business use competitive advantages plans to worldwide workers despite the number of staff members in the business. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages service providers in every country, produce regional accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs dispersed per place, total work costs per cycle and much more.
Internationally, I have actually shown management and strategic expertise in directing massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for managing payroll methods, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for the majority of prominent companies on the planet we offer payroll payments and workforce management to all staff member enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very dreary and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll likewise discuss a wrap-up and that must leave his time at the really very 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 International labor forces become more and more common and managing them ends up being more and more complicated International organizations are aiming to find Solutions and new ways to improve processes particularly from a payroll and cross-border payment perspective many companies preserve different checking account just for payroll while some have numerous accounts in various countries does it make good sense for business to maintain different checking account often in various countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business simplify the episode complex processes of
Guaranteeing accurate, efficient, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a difficult task into a tactical property.
Managing payroll internationally is a complicated task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual processes, information silos, and an absence of combination, leading to disparities and ineffectiveness. Regardless of residing in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and options to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a business spends on worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international businesses have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered 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 need to move the money around the globe payroll and payments do not run smoothly if they rely on the required multiple processes 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 challenges business face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what does not need to be included right and what does
it require 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 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 client's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 essential and innovation is permitting us to sort of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely important that payroll and financing groups work better together than ever um I'm always amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession 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 people any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the settlement landscape is ending up being significantly complex. Organizations are continuously presenting brand-new benefits and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can result in inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly innovative era, there's no validation for keeping cumbersome treatments. Payroll, the company's greatest cost, should be processed properly and on time. Even minor hold-ups can adversely affect employees' wellness and have far-reaching consequences. Therefore, it's critical to focus on accurate and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is vital to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first International Payments first payroll payment solution is an excellent preliminary action towards providing an extensive payroll service for staff members worldwide. Standardization, worldwide processes, and decreasing the number of tools, platforms, and checking account necessary for global payroll are crucial factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we understand how how essential 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 easy as possible for everybody that's associated with those processes and likewise so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and sort of shot to get back to everybody so proceeding appearance why do business select to main separate bank accounts there are businesses out there doing exactly this for particular nations and I have actually worked in a business or numerous companies doing exactly 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 additional work for anyone where we don't need to and any person that's handling that process 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 think numerous factors one is it's the standard I think people have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it needs changing however eventually individuals are very stuck with what they recognize
with right um modification is a difficult thing we all do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having keeping several checking account but there's a big quantity of intricacy chooses setting up a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for specific people so the intricacy is substantial however I believe the truthful answer is modification um individuals have not had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose numerous obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I simply 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 better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art