Find out more about Papaya Global Payroll Reviews Yelp ... 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 acquired a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and trusted technique of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll process, conserving me a significant amount of time each month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to international staff members despite the number of employees in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Worldwide HR encompass different functions such as keeping track of holiday time, guaranteeing compliance, facilitating the process of inviting brand-new staff members and bidding farewell to leaving ones, offering a protected online platform for keeping workers' documents, and offering support for work permit treatments in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall work costs distributed per location, overall work expenses per cycle and a lot more.
environments across the globe I offered leadership and method 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 building external relationships supporting Business customers and services as well as serving as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've type of had a range of various roles on the supplier side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already 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 is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic property uh we'll likewise review a wrap-up which ought to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them becomes a growing number of complex International companies are wanting to find Solutions and new ways to simplify processes especially from a payroll and cross-border payment perspective numerous companies keep separate savings account just for payroll while some have numerous accounts in various countries does it make sense for business to maintain separate bank accounts often in various nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most notably policies compliance information security and banking rules then there are the sheer numbers they add more intricacy the international Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll design there's typically an overwhelming number of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really very basic there's no genuine consistency structure we're residing in an era 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 frequently with pen and paper and that just blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on international payroll the less of an image they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of international companies have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors badly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties business face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and say what is it what doesn't need to be consisted of right and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely important but everywhere 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 take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to sort of move on with that it likewise also to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is absolutely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the compensation landscape is becoming increasingly detailed. Companies are continuously introducing brand-new advantages and payment options, which contributes to the total complexity. Large corporations typically divide their payroll and payment processing into different groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't have to be the case. In today's technically sophisticated age, there's no justification for preserving troublesome treatments. Payroll, the business's greatest expense, should be processed properly and on time. Even minor delays can negatively impact employees' well-being and have far-reaching consequences. For that reason, it's important to focus on accurate and prompt payments.
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is a fantastic initial step um offering an end-to-end payroll option for your staff members worldwide again I believe is another big um procedure again aligning and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of services and lowering the variety of tools platforms and savings account they need 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 have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know how how important 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 everyone that's involved in those procedures and also so envision sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine 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 really see what was going on and type of try to return to everybody so carrying on appearance why do business choose to primary different checking account there are businesses out there doing precisely this for particular countries and I have actually operated in a company or numerous services doing exactly that I can state it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't have to and anyone that's managing 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 think lots of factors one is it's the requirement I think people have actually got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering but ultimately people are extremely stuck with what they're familiar
with best um modification is a tough thing all of us don't like change um so I believe it's simply type 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 certainly the advantages of having keeping several bank accounts however there's a big amount of complexity chooses establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is big however I believe the truthful answer is modification um individuals have not been able to change or have not had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep track of and this method does position a number of obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change 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 actually gotten another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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