Find out more about Papaya Global Payroll Integration With Papaya Global ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and reputable approach of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Employee Website provides staff members with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to worldwide employees despite the number of staff members in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local advantages service providers in every nation, develop regional accounts and have a minimum number of employees.
The HR abilities offered by International HR encompass numerous functions such as keeping an eye on vacation time, guaranteeing compliance, facilitating the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, offering a protected online platform for saving employees' documents, and offering assistance for work permit procedures in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work expenses dispersed per area, total work expenses per cycle and a lot more.
Worldwide, I have actually shown management and tactical competence in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction 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 decade of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I wish I was elsewhere at this moment in time fine 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 preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap and that must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of typical and handling them becomes more and more intricate Worldwide organizations are aiming to discover Solutions and new methods to enhance processes especially from a payroll and cross-border payment perspective numerous companies keep different checking account just for payroll while some have several accounts in different countries does it make sense for companies to preserve separate savings account often in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business enhance the episode complex processes of
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they add additional complexity the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll model there's typically a frustrating number of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really really basic there's no real consistency framework we're residing in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of international organizations have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors poorly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the information is delivered to the wrong place the average 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 world payroll and payments don't run efficiently if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and say what is it what does not need to be included right and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 client's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to type of progress with that it also too to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely imperative that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals say I have actually split 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 divide the payroll payment from calculation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more essential to add to kind of the level of complexity there's a growing number of advantages being organ or being offered by organizations throughout the world so again you're simply looking to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from a cost perspective from an effect point of view on workers it is absolutely crucial that it's done properly and on time so what we imply 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 harmful result on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. For that reason, it is vital to make sure that tasks like Wi-Fi Worldwide and other important matters are done correctly. Using the first International Payments first payroll payment service is a terrific initial action towards providing a detailed payroll service for employees worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account necessary for international payroll are crucial factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyway we understand how how important 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 procedures and likewise so think of sorry I'm simply I was simply gon na say think of the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean up all those up for sure oh definitely I can't picture 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 actually see what was going on and sort of shot to get back to everybody so carrying on appearance why do business pick to main different bank accounts there are businesses out there doing exactly this for specific countries and I have actually operated in an organization or numerous companies doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anyone where we don't need to and anybody 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 amount that we are I think many factors one is it's the standard I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that people have taken a look 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 individuals are really stuck to what they recognize
with ideal um change is a difficult thing all of us don't like change um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping numerous checking account however there's a substantial quantity of intricacy chooses setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for private individuals so the complexity is big however I think the honest response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or two there is a lot to track and this technique does position a number of challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I 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 seems like our CFO has gained another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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