Find out more about Papaya Global Payroll Paystubs ... 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 actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trusted technique of making payments to our 10,000 workers worldwide.}
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Worker Website
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to global employees regardless of the number of staff members in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every country, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall employment expenses distributed per location, overall work costs per cycle and a lot more.
Worldwide, I have actually shown leadership and strategic knowledge in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll methods, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of various roles on the service provider side and likewise on the supplier side from a payroll point of view so actually anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes 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 raining here it's really very bleak and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why business keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a recap and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and managing them ends up being more and more complex Worldwide companies are looking to find Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment standpoint many organizations preserve separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to keep different checking account sometimes in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business streamline the episode complex processes of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in sufficient in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most importantly guidelines compliance information security and banking rules then there are the large numbers they add more intricacy the global Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll design there's often a frustrating variety of different systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or very extremely basic there's no real consistency framework we're residing in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
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 Workforce data in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in international payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international businesses have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors poorly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the data is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the needed several processes 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 challenges business face when they're paying to staff members or otherwise that's a good concern I constantly throw this back and say what is it what does not need to be included right and what does
it require to be considered 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 capabilities 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 wherever you look best eventually constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like very payments no if but some babies 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 think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to type of move forward with that it also also to contribute to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on well-being and the compensation landscape is ending up being increasingly intricate. Companies are continually introducing brand-new advantages and payment options, which contributes to the total intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's highly advanced age, there's no reason for maintaining cumbersome procedures. Payroll, the business's greatest expense, must be processed correctly and on time. Even minor delays can negatively affect employees' wellness and have significant consequences. For that reason, it's crucial to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anybody on this sort of webinar has been told 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 workers or not um but eventually payroll is such an important cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic primary step um providing an end-to-end payroll solution for your staff members globally once again I think is another big um procedure once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state picture 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 talking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and sort of shot to get back to everyone so carrying on appearance why do business choose to primary separate checking account there are companies out there doing precisely this for particular countries and I've worked in a company or lots of organizations doing exactly that I can say it does not always feel effective and it does create more work I know we're not purposely doing that we're not developing additional work for anybody where we don't have to and anyone 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 numerous factors one is it's the standard I believe individuals have got so utilized to we require a new savings account we open an entity and rightly 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 adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other methods um to to sort 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 but eventually people are very stuck with what they're familiar
with best um modification is a hard thing we all don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping multiple savings account but there's a substantial quantity of intricacy chooses establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is substantial however I think the honest answer is change um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep track of and this technique does position numerous difficulties um so Johnny might you inform us about those challenges yeah obviously 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 manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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