Find out more about Papaya Global Netsuite ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and dependable method of paying to our 10,000 employees worldwide.}
The advanced international payroll management app enhances my payroll process, conserving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to international employees no matter the variety of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, produce local accounts and have a minimum variety of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment costs dispersed per location, overall work costs per cycle and far more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout business managing and building external relationships supporting Business clients and options in addition to functioning as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to satisfy 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 decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different roles on the company side and also on the supplier side from a payroll viewpoint so really eagerly 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 couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly 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 extremely gloomy and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a strategic asset uh we'll likewise discuss a recap and that ought to leave his time at the extremely really 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 Global labor forces end up being more and more common and handling them becomes increasingly more complicated Global companies are looking to find Solutions and brand-new methods to improve procedures specifically from a payroll and cross-border payment perspective lots of companies keep separate checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain separate checking account sometimes in different countries it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies improve the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business forecast payroll expenses to optimize working capital, and find how simplifying global payroll payments can transform them from a burdensome job into a strategic property.
Managing payroll worldwide is a challenging task due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and companies contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and an absence of combination, resulting in inconsistencies and inadequacies. Regardless of residing in a period of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and options to simplify and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see an absence of visibility also reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide services have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors improperly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they rely on the needed numerous processes 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 challenges organization face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what doesn't need to be consisted of 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 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 client's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely critical 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 look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to sort of move forward with that it also as well to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more important to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by businesses across the world so once again you're simply aiming to add increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real obstacles or genuine difficult sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of years I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from an expense perspective from an impact perspective on workers it is definitely vital that it's done correctly and on time so what we mean 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 destructive impact on people's wellness and many other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only discover when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the first Global Payments first payroll payment service is an excellent preliminary action towards providing an extensive payroll solution for workers worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and bank accounts necessary for worldwide payroll are crucial factors in accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how crucial a role 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 everybody that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying 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 need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everyone so carrying on look why do companies choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've operated in an organization or lots of organizations doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anybody where we don't need to and anybody that's dealing with that process 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 many factors one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however 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 adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a procedure that requires looking at it requires changing but ultimately individuals are really stuck to what they recognize
with right um modification is a hard thing all of us don't like modification um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having maintaining numerous checking account but there's a substantial amount of intricacy opts for setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for specific people so the complexity is substantial however I believe the sincere answer is change um people haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to monitor and this approach does present numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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