Find out more about Papaya Global Growth ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and dependable technique of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages packages to global workers no matter the number of employees in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits providers in every country, create local accounts and have a minimum variety of staff members.
The HR abilities provided by Global HR incorporate various functions such as keeping track of vacation time, making sure compliance, assisting in the process of inviting new workers and bidding farewell to leaving ones, using a safe online platform for storing employees' files, and providing assistance for work permit procedures in case your staff members require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work expenses dispersed per area, overall employment expenses per cycle and a lot more.
environments across the globe I offered management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business managing and building external relationships supporting Business clients and solutions along with acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually 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 drizzling here it's really very bleak and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why business preserve separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly guidelines compliance data security and banking guidelines then there are the large numbers they include more intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating variety of different systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in large quantities and or extremely really fundamental there's no real consistency framework we're residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on international payroll the less of a picture they see a lack of presence also extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of global businesses have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes improperly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count 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 requires to be factored into the challenges organization face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely important however all over you look with payroll payment they are like very payments no if however some children 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 acknowledgment that payroll payments are definitely essential and technology is enabling us to sort of move on with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely important that payroll and financing groups work closer together than ever um I'm constantly amazed when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high value on wellness and the settlement landscape is ending up being progressively elaborate. Companies are continuously introducing new advantages and payment choices, which contributes to the general intricacy. Large corporations typically divide their payroll and payment processing into different groups, which can result in inefficiencies and traffic jams. In my opinion, this does not need to hold true. In today's technologically innovative era, there's no reason for maintaining cumbersome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even minor delays can negatively impact staff members' wellness and have far-reaching repercussions. For that reason, it's important to prioritize accurate and timely payments.
payroll team get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the very first Global Payments very first payroll payment solution is a fantastic initial step um providing an end-to-end payroll solution for your staff members worldwide again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of businesses and reducing the variety of tools platforms and bank accounts they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how important a role 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 everyone that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and sort of shot to return to everybody so proceeding appearance why do business pick to primary different bank accounts there are businesses out there doing exactly this for specific nations and I have actually worked in a service or lots of organizations doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we do not need to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of factors one is it's the requirement I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a process that needs looking at it needs changing but ultimately individuals are extremely stuck with what they recognize
with ideal um change is a hard thing we all don't like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having preserving multiple checking account but there's a huge amount of intricacy chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual individuals so the intricacy is huge however I think the truthful answer is modification um individuals have not had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe 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 genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this approach does pose several challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a variety 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 Worldwide employees you should have a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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