Find out more about Papaya Global Payroll Api ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This provides us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, saving me a substantial amount of time each month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees no matter the number of employees in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local benefits companies in every nation, develop regional accounts and have a minimum number of staff members.
The HR abilities offered by International HR incorporate various functions such as monitoring getaway time, ensuring compliance, helping with the procedure of welcoming new employees and bidding goodbye to leaving ones, providing a safe online platform for keeping employees' documents, and offering support for work allow treatments in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work expenses dispersed per place, total employment expenses per cycle and much more.
Globally, I have demonstrated management and strategic competence in guiding massive populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My role includes handling and developing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. 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 company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of various roles on the company side and also on the supplier side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 really very 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 taking a look at the difficulty years of handling Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll likewise go over a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more typical and handling them becomes a growing number of complicated Global organizations are wanting to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment standpoint numerous organizations preserve separate checking account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different bank accounts sometimes in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most notably policies compliance information security and banking rules then there are the large numbers they add further complexity the international Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming number of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or extremely really basic there's no real consistency framework we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see a lack of visibility also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global companies have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round everything off and the data is delivered to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they depend on the essential several 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 obstacles business face when they're paying to workers or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought of there's varying 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and innovation is enabling us to sort of move on with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work better together than ever um I'm always impressed when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world puts a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Companies are continually presenting new advantages and payment options, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my opinion, this doesn't need to be the case. In today's technically advanced era, there's no justification for keeping cumbersome treatments. Payroll, the business's biggest cost, should be processed properly and on time. Even small hold-ups can adversely affect staff members' well-being and have significant effects. For that reason, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll solution for your employees worldwide once again I think is another substantial um procedure again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of businesses and minimizing the variety of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not 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 rather where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know 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 simple as possible for everyone that's associated with those processes and likewise so picture 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'm sure we're talking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely 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 in fact see what was going on and sort of try to get back to everybody so carrying on look why do business pick to primary separate checking account there are organizations out there doing precisely this for particular countries and I've worked in a company or numerous organizations doing exactly that I can say it doesn't always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not need to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think individuals have got so used to we require a brand-new bank account we open an entity and rightly so you require 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 standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing however eventually individuals are very stuck with what they're familiar
with right um change is a hard thing all of us do not like modification um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving several savings account but there's a huge amount of intricacy opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the complexity is substantial however I think the honest answer is change um individuals have not had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be identified to be the next Century or so there is a lot to keep track of and this technique does position numerous difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change 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 acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your achievements.
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