Find out more about Papaya Global Change Payroll Date One Itme ... We now have the ability to manage 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 specifically devoted to handling payments. This provides us with a secure and trustworthy method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to worldwide workers regardless of the number of employees in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work expenses distributed per area, overall employment costs per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Business clients and options along with functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to staff members 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, despite your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually type of had a variety of various roles on the service provider side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two 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 just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely bleak and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic property uh we'll likewise discuss a recap which should leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them becomes more and more complicated International companies are looking to find Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment standpoint lots of organizations maintain different bank account just for payroll while some have numerous accounts in different countries does it make good sense for companies to maintain separate bank accounts in some cases in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies enhance the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to optimize working capital, and find how improving international payroll payments can transform them from a troublesome job into a tactical asset.
Handling payroll globally is a complicated task due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer number of workers and organizations adds to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, data silos, and a lack of combination, causing disparities and inadequacies. In spite of residing in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and services to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a picture they see a lack of visibility also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies have revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes improperly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the data is delivered to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they depend on the necessary several processes systems and partners it is just 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 workers or otherwise that's an excellent concern I constantly toss this back and state what is it what does not require 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 country 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 customer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely essential and technology is allowing us to type of move forward with that it also as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry 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 also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by businesses throughout the world so again you're just seeking to add more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine obstacles or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an effect point of view on workers it is definitely crucial that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on people's well-being and many other elements if people aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally also. For that reason, it is essential to make sure that jobs like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first Global Payments first payroll payment option is a fantastic initial action towards offering a detailed payroll solution for workers worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how essential a function it is and that'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 simple as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about 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 however it would definitely be an intriguing job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and sort of try to return to everyone so carrying on look why do business choose to primary different savings account there are services out there doing precisely this for particular nations and I have actually operated in a company or numerous services doing exactly that I can say it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anybody where we don't need to and anyone that's managing that procedure 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 lots of factors one is it's the standard I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have embraced 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 sort of do it so I believe there's a range I believe this is a process that requires taking a look at it needs changing however eventually individuals are really stuck to what they're familiar
with ideal um change is a hard thing all of us don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining numerous bank accounts however there's a huge quantity of intricacy chooses establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is big however I believe the honest answer is modification um people have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter however we've always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century or so there is a lot to keep track of and this approach does pose a number of difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just 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 Worldwide employees you deserve a corner workplace with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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