Find out more about Papaya Global Vs Papaya Global Payroll Reddit ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Portal provides workers with the capability to gain access to and view important files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to international employees regardless of the number of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every country, create regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR include different functions such as keeping track of holiday time, ensuring compliance, assisting in the procedure of inviting new staff members and bidding farewell to departing ones, offering a safe and secure online platform for keeping employees' documents, and offering support for work allow treatments in case your employees need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment costs dispersed per location, total work expenses per cycle and a lot more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business handling and building external relationships supporting Business customers and solutions as well as acting as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a satisfaction to fulfill 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 industry, I have actually concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different functions on the service provider side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or two 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 fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why business keep separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a difficult job into a strategic property.
Handling payroll worldwide is an overwhelming task due to numerous policies, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, causing disparities and inadequacies. Regardless of living in an age of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and solutions to streamline and enhance global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in global payroll the less of a photo they see a lack of presence also extends to payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide services have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly interacted hires and terminations along with lack management and system setups and then when you round it all off and the data is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they rely 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 needs to be factored into the difficulties service face when they're paying to employees or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 client's own in-country account so there's complexity wherever you look best ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like very payments no if but some babies 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 recognition that payroll payments are definitely essential and innovation is permitting us to sort of move on with that it likewise as well 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 essential that payroll and finance groups work better together than ever um I'm constantly astonished when people say I have actually split 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 split 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 process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on well-being and the payment landscape is becoming increasingly intricate. Companies are continually presenting new advantages and payment options, which adds to the general intricacy. Large corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly advanced period, there's no validation for keeping troublesome treatments. Payroll, the business's most significant cost, must be processed properly and on time. Even slight hold-ups can adversely affect employees' wellness and have far-reaching consequences. Therefore, it's vital to focus on accurate and timely payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi Global and other essential matters are done correctly. Using the first Worldwide Payments very first payroll payment solution is an excellent initial step towards providing a detailed payroll service for employees worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are key consider attaining service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway 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 everybody that's associated with those processes and likewise so think of sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't envision 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 shot to return to everybody so moving on look why do companies select to main separate bank accounts there are organizations out there doing precisely this for particular nations and I have actually worked in a business or lots of organizations doing precisely that I can say it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not need to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it needs changing however eventually people are extremely stuck with what they're familiar
with ideal um modification is a difficult thing all of us don't like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having preserving numerous savings account but there's a substantial quantity of complexity opts for setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is substantial but I think the truthful answer is modification um individuals have not had the ability to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or two there is a lot to track and this approach does posture several challenges um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you deserve a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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