Find out more about Using Papaya Global For Payroll ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and reputable technique of making payments 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 contractors
The Employee Portal offers staff members with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps business offer competitive benefits packages to international workers regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every nation, produce regional accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs distributed per location, overall work costs per cycle and much more.
environments around the world I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and building external relationships supporting Business clients and options in addition to functioning as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce 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 location. It's an enjoyment to meet you and thank you for your valuable 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 options for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the supplier side and also on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everyone 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 kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone comes 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 raining here it's really extremely dreary and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a strategic asset uh we'll likewise go over a wrap-up which ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and handling them ends up being a growing number of intricate Global companies are aiming to find Solutions and brand-new ways to streamline processes specifically from a payroll and cross-border payment viewpoint many companies maintain different savings account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain separate savings account in some cases in different countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies enhance the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses running worldwide. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll worldwide is a daunting job due to different regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of employees and businesses adds to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, data silos, and a lack of combination, resulting in disparities and inadequacies. Despite living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and services to streamline and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide services have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the data is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's a great question I constantly toss this back and say what is it what doesn't need to be included right and what does
it need to be thought of 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 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 customer's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work closer together than ever um I'm always astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation 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 information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by companies throughout the world so once again you're simply looking to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single biggest liability that any service has from an expense perspective from an effect point of view on workers it is definitely 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 greatest destructive effect on people's wellness and numerous other factors if people aren't paid uh I've constantly been surprised entering this Market type of the last five to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the first Worldwide Payments first payroll payment solution is a fantastic initial step towards supplying a comprehensive payroll option for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and bank accounts needed for worldwide payroll are essential factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don't go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand how how important 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 processes and also so imagine sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine 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 certainly be a fascinating job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and sort of try to return to everybody so moving on appearance why do business select to main different bank accounts there are companies out there doing exactly this for specific countries and I've operated in a business or numerous companies doing precisely that I can say it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I think individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it needs altering but eventually individuals are really stuck to what they recognize
with right um modification is a tough thing all of us don't like modification um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving numerous savings account but there's a huge quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is substantial but I believe the honest response is change um people haven't had the ability to change or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century approximately there is a lot to keep track of 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 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 Worldwide workers you deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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