Find out more about Papaya Global Vs Papaya Global For Payroll ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and dependable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Staff member Portal supplies workers with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to international staff members no matter the number of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits companies in every nation, create local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total employment costs dispersed per area, overall work expenses per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Enterprise clients and options in addition to 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 worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure 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 market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 truly 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 gloomy and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially helpful for global organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in enough in one country but when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most notably regulations compliance data security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated 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 model there's often an overwhelming variety of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely very standard there's no real consistency framework we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on global payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services 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 data data entry errors poorly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the data 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 need to move the cash all over the world payroll and payments do not run smoothly if they count on the needed numerous processes 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 organization face when they're paying to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to type of move forward with that it likewise too to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market 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 likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on well-being and the settlement landscape is ending up being significantly detailed. Services are continuously introducing brand-new advantages and payment choices, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and bottlenecks. In my opinion, this does not need to be the case. In today's technologically sophisticated era, there's no reason for keeping cumbersome procedures. Payroll, the business's greatest cost, need to be processed properly and on time. Even slight hold-ups can adversely impact employees' well-being and have far-reaching effects. Therefore, it's important to prioritize precise and prompt payments.
payroll team get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment option is a fantastic primary step um supplying an end-to-end payroll option for your employees internationally again I believe is another substantial um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of businesses 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 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 expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyway we know how how crucial 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 likewise so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and sort of shot to get back to everybody so carrying on look why do companies pick to main separate checking account there are companies out there doing exactly this for particular nations and I have actually operated in a company or lots of businesses doing precisely that I can state it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we don't have to and anyone that's dealing with that procedure 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 numerous factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it needs changing however eventually individuals are extremely stuck to what they're familiar
with best um change is a tough thing all of us do not like modification um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving multiple savings account but there's a huge amount of intricacy chooses establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge but I think the sincere answer is modification um individuals have not been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to track and this technique does position numerous challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this improved ability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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