Find out more about Papaya Global Payroll App Android ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll process, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Staff member Portal
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 several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international staff members no matter the variety of workers in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every nation, produce regional accounts and have a minimum number of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall work costs distributed per area, total work costs per cycle and much more.
Internationally, I have actually demonstrated management and tactical proficiency in guiding large-scale populations of over 100,000 employees across 170 nations. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and workforce management to all staff member enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent night depending upon where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually type of had a range of different roles on the provider side and also on the supplier side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type 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 sunshine is it it's not no it's it's drizzling here it's extremely extremely bleak and I want I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also review a wrap-up and that should leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more common and handling them ends up being increasingly more complex Worldwide companies are wanting to discover Solutions and brand-new methods to improve procedures particularly from a payroll and cross-border payment viewpoint many organizations maintain separate bank account just for payroll while some have numerous accounts in different countries does it make sense for business to keep separate checking account in some cases in different nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies improve the episode complex processes of
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for businesses running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and find how streamlining global payroll payments can change them from a burdensome task into a tactical possession.
Handling payroll worldwide is a challenging job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer variety of workers and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and inefficiencies. In spite of living in a period of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and solutions to streamline 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 state they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on international payroll the less of an image they see a lack of presence also extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of global companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the client's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is absolutely crucial but all over you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely necessary that payroll and finance groups work closer together than ever um I'm always impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide 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 people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on wellness and the payment landscape is becoming progressively complex. Businesses are continuously introducing new advantages and payment alternatives, which contributes to the general complexity. Large corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technologically innovative era, there's no validation for preserving cumbersome procedures. Payroll, the company's most significant expense, should be processed properly and on time. Even small delays can adversely impact employees' well-being and have far-reaching consequences. Therefore, it's crucial to focus on precise and prompt payments.
payroll group get um so I'm not sure anybody on this sort of webinar has actually been told 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 employees or not um however ultimately payroll is such an important cycle we all hear 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment service is a terrific first step um supplying an end-to-end payroll option for your staff members internationally once again I believe is another big um procedure again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't 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 don't believe any of us are in fact doing that for for the thanks
anyhow we understand how how crucial 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 procedures and likewise so picture sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task attempting 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 need days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everybody so carrying on appearance why do business choose to primary different bank accounts there are services out there doing precisely this for specific countries and I've worked in a service or lots of organizations doing exactly that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we don't need to and any person that's dealing with 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 amount that we are I believe many reasons one is it's the requirement I believe people have actually got so used to we need a brand-new checking 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 adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I think this is a procedure that requires taking a look at it requires altering however ultimately individuals are very stuck with what they recognize
with best um modification is a challenging thing all of us don't like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having maintaining multiple bank accounts however there's a big quantity of complexity goes with setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge but I think the sincere answer is change um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century or two there is a lot to monitor and this method does pose several challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Business 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 gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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