Find out more about Papaya Global Nyse ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to handling payments. This provides us with a protected and reliable approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app simplifies my payroll procedure, conserving me a considerable amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Staff member Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to global workers despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local benefits providers in every nation, develop local accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment expenses dispersed per area, total employment expenses per cycle and much more.
environments around the world I supplied 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 stated I work across business managing and building external relationships supporting Enterprise clients and solutions in addition to acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction 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 decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of various roles on the service provider side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was elsewhere 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 obstacle years of managing Global payroll why companies preserve separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll also discuss a recap which needs to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and handling them becomes more and more complicated Worldwide companies are seeking to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment perspective lots of companies maintain different savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to preserve different bank accounts sometimes in different nations it does however just for payroll exists a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies improve the episode complex processes of
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to optimize working capital, and discover how improving international payroll payments can change them from a burdensome job into a strategic possession.
Handling payroll worldwide is a difficult task due to various regulations, compliance requirements, data security concerns, and banking rules. The sheer number of workers and companies adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inadequacies. In spite of living in a period of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and options to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global businesses have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors poorly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they rely on the essential several 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 obstacles organization face when they're paying to staff members or otherwise that's an excellent concern I constantly toss this back and say what is it what does not need to be included right 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 timespan 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 complexity any place you look right ultimately building a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link 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 technology is enabling us to type of progress with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation 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 people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to add to kind of the level of intricacy there's more and more advantages being organ or being offered by companies across the world so once again you're simply seeking to add increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a business 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 information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single most significant liability that any company has from a cost viewpoint from an impact point of view on employees it is definitely crucial that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental result on people's well-being and many other elements if people aren't paid uh I've always been impressed coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. Therefore, it is important to guarantee that tasks like Wi-Fi International and other vital matters are done properly. Using the very first International Payments very first payroll payment option is a great preliminary action towards supplying a comprehensive payroll service for workers worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and checking account necessary for global payroll are essential consider accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyway we know 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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm simply I was just gon na say 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 talking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and sort of try to get back to everybody so moving on appearance why do companies choose to main separate savings account there are companies out there doing exactly this for particular countries and I've worked in a business or lots of organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not developing extra work for anybody where we do not have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I think individuals have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it requires altering but eventually individuals are really stuck with what they recognize
with right um change is a challenging thing all of us do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving multiple bank accounts but there's a big amount of intricacy chooses establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is big however I think the honest response is change um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I simply 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 International employees you deserve a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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