Find out more about Papaya Global Payroll Philippines Reddit ... 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 gotten a different Chief Financial Officer specifically committed to managing payments. This offers us with a secure and trustworthy method of paying to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll procedure, conserving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Staff member Website provides workers with the ability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps business provide competitive benefits plans to international workers despite the number of workers in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits service providers in every country, develop local accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total employment expenses distributed per place, total work costs per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business handling and structure external relationships supporting Business clients and options as well as acting as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a range of various roles on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I really 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 drizzling here it's really really gloomy and I wish I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll also review a recap which needs to leave his time at the very extremely 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 Worldwide workforces become increasingly more typical and managing them ends up being a growing number of complex Global organizations are wanting to find Solutions and new ways to streamline procedures especially from a payroll and cross-border payment perspective many organizations keep separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to maintain different bank accounts sometimes in different nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies streamline the episode complex processes of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they include more intricacy the global Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the globe in the traditional payroll design there's frequently a frustrating variety of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or extremely really fundamental there's no genuine consistency framework we're residing in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more an organization spends on international payroll the less of an image they see an absence of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of worldwide services have actually 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 because of time reporting poor HCM information information entry mistakes badly interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the information is delivered to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're making payments to employees or otherwise that's a good concern I always toss this back and state what is it what does not require to be included ideal and what does
it require to be thought of there's varying Bank information 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 need to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but some children 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to sort of progress with that it likewise also to add to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely important that payroll and finance teams work closer together than ever um I'm constantly impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end process 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
world we reside in and well-being being more and more crucial to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being used by businesses across the world so once again you're just aiming to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine challenges or real challenging kind of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from a cost point of view from an effect perspective on workers it is definitely vital that it's done correctly and on time so what we suggest 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 effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've always been surprised entering this Market type of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people only observe when things fail. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment option is a terrific preliminary action towards offering an extensive payroll service for employees worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account essential for global payroll are essential factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow 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 associated with those processes and also so picture sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everybody so proceeding look why do business choose to primary different checking account there are companies out there doing exactly this for particular nations and I have actually worked in an organization or lots of organizations doing exactly that I can say 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 managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I think individuals have actually got so used to we need a new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it needs altering but ultimately people are extremely stuck to what they recognize
with right um change is a challenging thing all of us do not 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 stuff um I comprehend undoubtedly the benefits of having maintaining multiple checking account but there's a huge quantity of intricacy chooses establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is huge however I think the truthful answer is modification um individuals have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century or so there is a lot to keep track of and this technique does position numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a range 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 tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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