Find out more about Papaya Global Payroll Down ... 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 gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Portal where they can see 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 phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits bundles to global workers no matter the number of staff members in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every country, develop local accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work expenses distributed per area, total employment expenses per cycle and much more.
Worldwide, I have demonstrated leadership and strategic competence in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function includes managing 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 options provider.
business to make the time 100 list for a lot of influential business worldwide we offer payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending upon where you remain in the world it's charming to satisfy 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 have actually remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the provider side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind 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 actually 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 raining here it's really very bleak and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise discuss a wrap-up which ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and managing them ends up being a growing number of intricate International companies are wanting to discover Solutions and brand-new ways to streamline procedures specifically from a payroll and cross-border payment standpoint many organizations keep different savings account just for payroll while some have multiple accounts in different nations does it make good sense for companies to preserve different checking account often in different countries it does but just for payroll is there a better way what role do virtual accounts and digital wallets also called virtual wallets play in helping international companies enhance the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for services running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to optimize working capital, and discover how simplifying global payroll payments can change them from a burdensome job into a strategic property.
Managing payroll globally is a daunting job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and organizations contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual processes, data silos, and an absence of combination, resulting in disparities and inadequacies. Despite living in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of international organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes poorly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the information is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're making payments to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be included best and what does
it require to be thought of 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 capabilities 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 customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 absolutely fundamental and technology is allowing us to sort of move on with that it likewise also to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the payment landscape is becoming significantly complex. Businesses are continually introducing brand-new benefits and payment options, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's technically advanced era, there's no validation for preserving troublesome treatments. Payroll, the business's greatest expense, need to be processed properly and on time. Even small delays can adversely impact employees' well-being and have far-reaching effects. Therefore, it's vital to focus on accurate and timely payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll correctly 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 an essential cycle we all 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 deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great first step um providing an end-to-end payroll solution for your workers globally once again I think is another big um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of services and lowering the number of tools platforms and savings account they need for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how crucial a function 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 everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to get back to everyone so proceeding look why do companies pick to primary different bank accounts there are services out there doing exactly this for particular nations and I have actually operated in an organization or lots of businesses doing exactly that I can state it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the requirement I think people have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a process that needs looking at it needs changing but ultimately individuals are extremely stuck to what they're familiar
with best um change is a hard thing we all don't like change um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having maintaining several checking account however there's a big amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the complexity is substantial however I think the honest response is modification um people have not had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we have actually always 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 understand what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does position several difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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