Find out more about Papaya Global Payroll Employee Reviews ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and trusted approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Worker Portal supplies staff members with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to worldwide workers despite the variety of workers in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities supplied by Worldwide HR include numerous functions such as keeping track of holiday time, ensuring compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to departing ones, offering a protected online platform for saving workers' documents, and supplying assistance for work allow treatments in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment expenses distributed per area, total work expenses per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Business customers and options in addition to functioning as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for many influential business worldwide we provide payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good evening depending upon where you are in the world it's charming to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained 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 complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the company side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 raining here it's very really gloomy and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also go over a recap which should leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them ends up being a growing number of complicated International companies are looking to discover Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment perspective many organizations maintain separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to keep different savings account in some cases in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex processes of
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most significantly guidelines compliance information security and banking guidelines then there are the large numbers they include additional intricacy the international Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's often an overwhelming variety of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or really extremely standard there's no real consistency structure we're living in an era of tech but 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 which just 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 organizations state they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors badly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they depend on the needed several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be included ideal 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 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 consumer's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if but 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 absolutely fundamental and innovation is allowing us to kind of progress with that it also as well to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm always impressed when people state I've split 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 divide 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 process it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to type of the level of complexity there's increasingly more benefits being organ or being offered by businesses across the world so again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine difficult type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we need to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost perspective from an impact point of view on workers it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental impact on people's wellness and many other elements if people aren't paid uh I've always been amazed coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only discover when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally also. For that reason, it is essential to make sure that tasks like Wi-Fi Worldwide and other important matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a great preliminary step towards providing a thorough payroll service for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and savings account necessary for worldwide payroll are crucial factors in achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we know how how essential 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and sort of shot to return to everybody so proceeding look why do companies select to primary separate checking account there are companies out there doing precisely this for specific countries and I have actually worked in an organization or many businesses doing precisely that I can state it does not constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we don't need to and any person that's dealing with 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 lots of factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new bank account we open an entity and appropriately 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 just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but ultimately people are very stuck with what they recognize
with ideal um change is a hard thing all of us don't like modification um so I think it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping numerous bank accounts but there's a huge quantity of intricacy opts for setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is big however I believe the truthful answer is change um people haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be determined to be the next Century or so there is a lot to keep an eye on and this approach does pose several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted 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 good. You are worthy of a corner office with a parking space that is closer, considering your achievements.
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