Find out more about Papaya Global Payroll Tax Calculator ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 employees worldwide.}
The cutting-edge international payroll management app streamlines my payroll process, conserving me a substantial quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to global workers despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, produce regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total employment expenses dispersed per area, overall work costs per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical expertise in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My role involves handling and developing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for a lot of influential companies in the world we supply payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good night depending upon where you remain in the world it's charming to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the service provider side and likewise on the supplier side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 really really dreary and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic possession uh we'll likewise review a wrap-up which ought to leave his time at the very very 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 Global workforces end up being more and more typical and managing them becomes increasingly more complicated Worldwide companies are aiming to find Solutions and new ways to improve processes especially from a payroll and cross-border payment perspective numerous organizations keep different bank account just for payroll while some have numerous accounts in various nations does it make sense for business to preserve separate savings account often in various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies streamline the episode complex processes of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging 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 significantly guidelines compliance information security and banking guidelines then there are the large numbers they include further intricacy the global 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 presently 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 conventional payroll design there's frequently a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely really fundamental there's no genuine consistency structure we're living in a period 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 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 businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a business spends on international payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide companies have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly communicated hires and terminations as well as lack management and system setups and after that when you round everything off and the data is delivered to the wrong place the average expense 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 cash all over the world 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 viewpoint and in your experience what else requires to be factored into the difficulties business face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't need to be included right and what does
it need 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 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 have to pay from the customer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind 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 essential and technology is enabling us to type of move on with that it also also to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by organizations throughout the world so once again you're simply wanting to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real obstacles or real tough type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would definitely state that the larger 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 details into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate 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 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 tough as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from a cost perspective from an impact viewpoint on employees it is absolutely crucial 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 need to be done right it has the biggest detrimental result on individuals's wellness and numerous other factors if people aren't paid uh I have actually always been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is an excellent initial step um supplying an end-to-end payroll solution for your workers globally once again I believe is another substantial um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of companies and minimizing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we know how how important a function 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 everyone that's involved in those procedures and also so envision sorry I'm just I was just gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and in fact see what was going on and type of shot to return to everybody so carrying on appearance why do companies pick to primary separate checking account there are companies out there doing precisely this for particular nations and I've worked in a service or numerous services doing precisely that I can say it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not 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 believe numerous reasons one is it's the standard I think people have actually got so utilized to we need a new savings account we open an entity and rightly so you require 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 requirement and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires changing but eventually individuals are very stuck with what they recognize
with best um change is a hard thing all of us don't like modification um so I believe it's just 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 clearly the benefits of having preserving numerous checking account but there's a big quantity of intricacy chooses setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the complexity is substantial however I believe the truthful response is change um individuals have not had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could practically be identified to be the next Century approximately there is a lot to monitor and this approach does present several challenges um so Johnny could you inform us about those difficulties yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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