Find out more about Papaya Global Payroll Donation ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and reliable approach of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Worker Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to international staff members despite the variety of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits suppliers in every country, produce regional accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall work expenses distributed per location, total employment expenses per cycle and a lot more.
Worldwide, I have demonstrated management and tactical proficiency in guiding massive populations of over 100,000 employees across 170 nations. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role involves handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, 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 solutions for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized 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 different functions on the company side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays 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 kind 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 sunlight is it it's not no it's it's raining here it's really extremely uninspiring and I want I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical property uh we'll likewise go over a wrap-up which should 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 Global workforces become increasingly more common and managing them becomes a growing number of intricate Global organizations are seeking to discover Solutions and new methods to improve processes particularly from a payroll and cross-border payment standpoint numerous organizations keep separate bank account just for payroll while some have multiple accounts in various nations does it make sense for business to keep different savings account in some cases in various nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business enhance the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and find how streamlining worldwide payroll payments can transform them from a troublesome job into a strategic property.
Handling payroll worldwide is a daunting task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer number of staff members and organizations adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically result in manual processes, information silos, and an absence of combination, resulting in disparities and inefficiencies. Despite 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, frequently using pen and paper. This webinar objectives to supply insights and services to streamline and enhance international 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 Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on international payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide companies have revealed that they do not 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 data entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they depend on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges service face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be consisted of right and what does
it need to be thought about there's differing 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 capabilities 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 customer's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to sort of move on with that it likewise too to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the payment landscape is becoming progressively elaborate. Services are continually presenting brand-new advantages and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my viewpoint, this doesn't have to hold true. In today's highly sophisticated age, there's no justification for keeping cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even small hold-ups can adversely affect staff members' wellness and have far-reaching repercussions. For that reason, it's critical to prioritize accurate and timely payments.
payroll group get um so I'm uncertain anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial 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 simply a tick box exercise 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 absolutely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment service is a terrific initial step um providing an end-to-end payroll option for your staff members worldwide once again I believe is another big um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of services and minimizing the variety of tools platforms and savings account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know 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 easy as possible for everybody that's associated with those procedures and also so imagine sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting 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 check out them and really see what was going on and sort of shot to return to everyone so moving on appearance why do companies select to main different bank accounts there are businesses out there doing precisely this for specific countries and I've operated in a service or many companies doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for any person where we don't have to and anybody that's handling 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 numerous reasons one is it's the requirement I believe people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety 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 people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a process that requires looking at it needs changing however ultimately people are really stuck to what they recognize
with ideal um modification is a challenging thing we all don't like modification um so I think it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping multiple savings account but there's a huge amount of complexity chooses establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big however I believe the sincere answer is modification um people haven't been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this technique does present a number of difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Art