Find out more about Papaya Global Payroll Summary ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Worker Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide staff members regardless of the variety of workers in the business. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits providers in every nation, develop local accounts and have a minimum number of employees.
The HR capabilities supplied by International HR include different functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of inviting new employees and bidding goodbye to leaving ones, offering a protected online platform for storing workers' documents, and providing assistance for work permit treatments in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall employment costs dispersed per area, total work expenses per cycle and far more.
environments across the globe I provided leadership 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 managing and structure external relationships supporting Business customers and options as well as serving as a consultant for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. 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 an enjoyment to satisfy 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 years of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a range of various roles on the service provider side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone 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 remains 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 very gloomy and I wish I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a strategic property uh we'll also go over a wrap-up and that must 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 International labor forces end up being increasingly more common and handling them becomes a growing number of complicated International organizations are wanting to discover Solutions and brand-new ways to improve procedures specifically from a payroll and cross-border payment viewpoint lots of companies preserve different savings account just for payroll while some have numerous accounts in different nations does it make good sense for companies to preserve separate checking account in some cases in various nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business streamline the episode complex procedures of
making payroll payments accurately efficiently firmly and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most significantly policies compliance data security and banking rules then there are the sheer numbers they include more intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll design there's typically a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very very basic there's no real 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 often with pen and paper and that just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a service invests in worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they do not 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 information entry errors badly communicated hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is delivered to the incorrect place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're paying to employees or otherwise that's a good question I constantly throw this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is definitely vital but everywhere you look with payroll payment they resemble extremely payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to sort of move on with that it also as well to add to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to add to type of the level of intricacy there's increasingly more advantages being organ or being provided by services throughout the world so again you're simply wanting to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or real tough sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era 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 appropriately as you said payroll is the single greatest liability that any business has from an expense viewpoint from an effect perspective on employees it is definitely crucial that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on individuals's well-being and lots of other elements if individuals aren't paid uh I've constantly been astonished coming into this Market sort of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just notice when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi International and other crucial matters are done correctly. Using the very first Global Payments first payroll payment option is a fantastic initial step towards offering an extensive payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account necessary for global payroll are key consider accomplishing business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as prepared. Eventually, we do not do it for the gratitude.
anyhow we know how how essential 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 easy as possible for everybody that's involved in those procedures and also so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean all those up for sure oh definitely 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 shot to get back to everybody so carrying on look why do companies choose to primary different bank accounts there are companies out there doing precisely this for particular nations and I have actually operated in a company or numerous businesses doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we don't have to and any person that's dealing with 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 amount that we are I think lots of reasons one is it's the requirement I believe people have got so used to we need a new savings account we open an entity and appropriately 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 just been the requirement and the norm individuals 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 many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing however ultimately individuals are very stuck to what they're familiar
with best um modification is a tough thing all of us do not like modification um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having preserving multiple savings account but there's a huge amount of intricacy opts for establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge but I believe the honest answer is change um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century approximately there is a lot to monitor and this method does posture numerous difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I 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 gotten another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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