Find out more about Papaya Global Payroll Status ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and trusted approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Staff member Portal provides workers with the capability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to international workers regardless of the variety of employees in the company. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits providers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities provided by International HR encompass numerous functions such as monitoring holiday time, guaranteeing compliance, helping with the process of welcoming brand-new workers and bidding goodbye to leaving ones, providing a safe online platform for saving workers' files, and offering support for work allow treatments in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total work expenses distributed per place, overall employment costs per cycle and a lot more.
environments around the world I offered management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Enterprise customers and services in addition to functioning as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force 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 area. It's a satisfaction to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I have actually kind of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical possession uh we'll also go over a recap and that ought to leave his time at the really very 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 Worldwide workforces become more and more typical and managing them becomes a growing number of complicated International organizations are aiming to discover Solutions and brand-new ways to simplify procedures specifically from a payroll and cross-border payment standpoint many companies preserve separate bank account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve separate checking account sometimes in various nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies simplify the episode complex processes of
making payroll payments accurately efficiently firmly 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 costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most significantly policies compliance information security and banking guidelines then there are the sheer numbers they add additional intricacy the international Labor force is currently three and a half billion people by 2030 it's approximated 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 companies and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating number of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely really fundamental there's no real consistency framework we're living in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time 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 Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a company invests in international payroll the less of a picture they see a lack of exposure also extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of international services have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors inadequately communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're paying to employees or otherwise that's a great question I always toss this back and say what is it what doesn't need to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble 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 between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to kind of move forward with that it also 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 essential that payroll and financing teams work more detailed together than ever um I'm constantly astonished when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation 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 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to contribute to type of the level of intricacy there's more and more benefits being organ or being used by businesses throughout the world so again you're just wanting to add increasingly more payments to this currently complex landscape so if you kind 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 difficulties or real difficult type of pay uses to play to pay people I believe yeah I indicate 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 works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to create extra handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason that we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost viewpoint from an effect point of view on employees it is definitely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging effect on people's wellness and many other aspects if individuals aren't paid uh I've always been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout 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 important cycle, and individuals only discover when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally too. For that reason, it is vital to make sure that tasks like Wi-Fi Global and other essential matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a great preliminary action towards offering a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know 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 easy as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task trying to clean 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 require days of the week to try to browse them and in fact see what was going on and kind of try to get back to everyone so moving on appearance why do companies pick to main separate savings account there are services out there doing exactly this for specific nations and I've worked in an organization or numerous companies doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't need to and any person that's dealing with that procedure 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 lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually 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 numerous other methods um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it requires altering however eventually people are very stuck with what they recognize
with best um modification is a challenging thing all of us do not like modification um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping multiple checking account however there's a big quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is big however I believe the sincere response is change um people have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does position numerous obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you deserve a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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