Find out more about Papaya Global Payroll Pig ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and reputable method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages plans to worldwide staff members despite the number of staff members in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, develop local accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall employment expenses distributed per place, total work expenses per cycle and a lot more.
Internationally, I have shown management and strategic competence in assisting large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian pointed out, 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 solutions for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of various roles on the provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody 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 fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 very gloomy and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic property uh we'll also review a recap which must leave his time at the very 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 Global workforces end up being increasingly more typical and handling them ends up being increasingly more complex Global organizations are wanting to find Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment viewpoint many organizations preserve different checking account just for payroll while some have several accounts in various countries does it make sense for business to keep different bank accounts sometimes in various countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of factors most notably regulations compliance information security and banking guidelines then there are the large numbers they add more intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people 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 frequently an overwhelming variety of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or extremely extremely fundamental there's no real consistency framework we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a business spends on global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the wrong location the typical expense of a worldwide 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 rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 client's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some infants 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and finance groups work more detailed together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you stroll 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world places a high value on well-being and the payment landscape is becoming progressively complex. Organizations are continuously presenting brand-new advantages and payment options, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate groups, which can lead to ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's technically sophisticated age, there's no validation for maintaining cumbersome treatments. Payroll, the company's most significant expenditure, need to be processed correctly and on time. Even small hold-ups can adversely impact staff members' wellness and have far-reaching repercussions. Therefore, it's important to prioritize precise and timely payments.
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just discover when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally also. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other crucial matters are done properly. Using the first Worldwide Payments very first payroll payment solution is a great preliminary action towards supplying a detailed payroll option for staff members worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and savings account essential for international payroll are crucial consider accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how important a role it is which'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 think of sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean up 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 look through them and in fact see what was going on and sort of try to return to everybody so proceeding appearance why do companies pick to main separate bank accounts there are organizations out there doing precisely this for specific countries and I have actually worked in an organization or lots of companies doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anyone where we don't need to and any person that's handling that process 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 lots of reasons one is it's the standard I think individuals have actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement 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 lots of other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering however ultimately individuals are extremely stuck with what they recognize
with right um modification is a tough thing all of us do not like modification um so I think it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a substantial amount of complexity opts for setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private people so the complexity is big but I think the truthful answer is change um individuals have not had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to track and this method does position a number of difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise 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 actually acquired another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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