Find out more about Papaya Global Taiwan ... We now have the ability to manage 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 devoted to managing payments. This provides us with a protected and dependable method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages packages to worldwide workers despite the number of staff members in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local benefits service providers in every country, produce regional accounts and have a minimum variety of employees.
The HR capabilities provided by Global HR include various functions such as keeping an eye on getaway time, making sure compliance, facilitating the process of welcoming new workers and bidding farewell to leaving ones, using a protected online platform for keeping employees' documents, and providing support for work allow treatments in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total employment expenses dispersed per area, total employment expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and strategic knowledge in guiding massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most influential 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 mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years 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 always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really 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 really very gloomy and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll also discuss 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 suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more typical and handling them ends up being increasingly more complicated International companies are seeking to find Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint lots of organizations preserve separate savings account just for payroll while some have multiple accounts in different nations does it make good sense for companies to keep separate checking account in some cases in different nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies enhance the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a burdensome task into a strategic asset.
Handling payroll worldwide is a daunting job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The large number of staff members and companies adds to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically lead to manual processes, data silos, and a lack of integration, leading to disparities and ineffectiveness. Regardless of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and options to simplify and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more an organization spends on global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can result in compliance mishaps 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 procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes poorly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is shipped to the incorrect 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 require to move the cash all over the world payroll and payments do not run efficiently if they count on the needed numerous 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 difficulties company face when they're paying to workers or otherwise that's an excellent question I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be considered 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 have to pay from the client's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some babies 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 absolutely fundamental and technology is permitting us to sort of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 any place they are however likewise 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 ending up being increasingly complex. Organizations are continuously introducing new benefits and payment choices, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my opinion, this doesn't need to hold true. In today's technologically sophisticated era, there's no justification for preserving troublesome treatments. Payroll, the business's greatest cost, must be processed correctly and on time. Even slight delays can adversely impact staff members' wellness and have significant repercussions. For that reason, it's crucial to prioritize accurate and prompt payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has 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 individuals just notice when things fail. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. Therefore, it is necessary to guarantee that tasks like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment option is a great initial step towards offering a thorough payroll option for workers worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and checking account required for global payroll are crucial consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we understand how how essential 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 processes and also so think of sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't picture 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 kind of try to return to everyone so carrying on appearance why do companies select to primary different checking account there are services out there doing exactly this for particular countries and I have actually operated in a company or many organizations doing precisely that I can state it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we do not have to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe individuals have got so utilized to we require a new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have adopted 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 methods um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it requires altering however eventually people are extremely stuck with what they're familiar
with right um modification is a tough thing we all do not like change um so I believe 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 stuff um I comprehend clearly the advantages of having preserving several checking account but there's a huge amount of complexity opts for establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is big however I believe the sincere answer is change um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century or two there is a lot to monitor and this method does posture several obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a variety 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 Global employees you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Art