Find out more about Papaya Global Payroll Address ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This supplies us with a safe and dependable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Worker Website offers workers with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to worldwide workers regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every nation, create regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total work expenses dispersed per place, total employment expenses per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business handling and building external relationships supporting Enterprise clients and services along with acting 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 worldwide business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone 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 remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll likewise discuss a wrap-up 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 moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and handling them ends up being increasingly more complex Global organizations are seeking to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment standpoint many organizations keep separate savings account just for payroll while some have several accounts in various countries does it make sense for companies to keep separate checking account in some cases in various countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies enhance the episode complex processes of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they include additional complexity the international Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 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 traditional payroll model there's typically a frustrating number of various systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really extremely standard there's no genuine consistency framework we're living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal almost half of international companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they rely on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to workers or otherwise that's a good question I always toss this back and say what is it what does not require to be consisted of best and what does
it need to be thought of there's varying Bank details 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 have 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 right eventually constructing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like very payments no if however 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 fundamental and technology is permitting us to kind of move on with that it also also to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the payment landscape is becoming increasingly elaborate. Companies are continuously introducing brand-new benefits and payment choices, which adds to the total complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my viewpoint, this does not need to be the case. In today's technologically sophisticated period, there's no justification for keeping troublesome procedures. Payroll, the company's most significant expenditure, should be processed properly and on time. Even minor delays can negatively impact employees' wellness and have far-reaching consequences. For that reason, it's important to focus on precise and prompt payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the first Global Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll option for your staff members worldwide again I think is another huge um process once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of companies and minimizing the variety of tools platforms and bank accounts they need for their International 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 associated with those procedures and likewise so think of sorry I'm simply I was just gon na say envision 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 speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and really see what was going on and type of shot to return to everyone so proceeding look why do companies pick to main different checking account there are businesses out there doing precisely this for specific countries and I have actually worked in a business or numerous companies doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not producing additional work for anybody where we don't have to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I believe this is a procedure that requires taking a look at it needs changing however eventually people are really stuck to what they recognize
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having maintaining several bank accounts however there's a big quantity of intricacy chooses setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is huge but I believe the honest response is modification um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to keep track of and this method does position several obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise 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 actually gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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