Find out more about Papaya Global Ltd Israel ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and reliable method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to international employees despite the number of workers in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional advantages companies in every nation, create local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total work costs distributed per area, total employment costs per cycle and a lot more.
environments around the world I offered management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Enterprise clients and options as well as serving as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've type of had a variety of various roles on the company side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually 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 raining here it's very really uninspiring and I want I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add further complexity the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's frequently an overwhelming number of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or really very fundamental there's no real consistency framework we're residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international businesses have expressed 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 due to time reporting bad HCM information information entry errors improperly communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and state what is it what does not require to be included best and what does
it require to be thought of 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 abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is definitely crucial but all over you look with payroll payment they are like very 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 innovation is permitting us to type of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always impressed when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high worth on wellness and the compensation landscape is ending up being progressively elaborate. Businesses are constantly introducing new benefits and payment choices, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's technically advanced age, there's no validation for maintaining troublesome treatments. Payroll, the company's most significant expenditure, need to be processed correctly and on time. Even small delays can adversely impact staff members' well-being and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
payroll group get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll solution for your workers internationally again I think is another big um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of companies and reducing the variety of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow we know 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 everyone that's involved in those processes and likewise so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do business pick to main separate bank accounts there are companies out there doing precisely this for specific countries and I have actually worked in an organization or numerous companies doing precisely that I can say it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating additional work for any person where we don't have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I think people have actually got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually adopted 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 variety I think this is a process that needs taking a look at it needs changing but eventually individuals are very stuck with what they recognize
with best um change is a challenging thing all of us don't like change um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping several checking account however there's a substantial amount of complexity goes with establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is big but I think the truthful response is modification um people have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually hit 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 always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this method does present a number of obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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