Find out more about Papaya Global Core Payroll Fearures Direct Deposit ... 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 actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and reliable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app streamlines my payroll process, conserving me a substantial quantity of time every month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to international employees regardless of the number of staff members in the business. The business can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits companies in every country, produce local accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses dispersed per area, total employment costs per cycle and a lot more.
Internationally, I have actually shown leadership and strategic knowledge in guiding massive populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a satisfaction to meet 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 decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the provider side and likewise on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very dreary and I want I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also review a recap which must leave his time at the really extremely 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 International labor forces become increasingly more common and managing them ends up being a growing number of intricate International organizations are aiming to find Solutions and new ways to streamline processes specifically from a payroll and cross-border payment viewpoint many organizations preserve separate checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to maintain different savings account in some cases in different nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business enhance the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for services running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to optimize working capital, and discover how improving worldwide payroll payments can change them from a difficult job into a tactical asset.
Managing payroll globally is a complicated task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer number of employees and services contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of residing in an era of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and services to simplify and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of international businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the information is delivered to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential 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 obstacles business face when they're making payments to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be consisted of right 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 country there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to sort of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing teams work better together than ever um I'm constantly impressed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to add to type of the level of complexity there's a growing number of benefits being organ or being used by businesses throughout the world so again you're simply aiming to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real obstacles or genuine challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single greatest liability that any company has from a cost viewpoint from an impact point of view on staff members it is definitely vital 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 detrimental result on individuals's wellness and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all hear about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the very first International Payments first payroll payment option is a terrific first step um supplying an end-to-end payroll solution for your staff members internationally once again I believe is another substantial um process again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they need for their International 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 countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everybody so carrying on look why do business select to primary different checking account there are organizations out there doing precisely this for particular countries and I've worked in a service or lots of companies doing exactly that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not producing additional work for any person where we don't need to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I think individuals have got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a variety I think this is a process that needs looking at it requires changing however eventually people are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us do not like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having maintaining multiple checking account however there's a huge quantity of intricacy chooses establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is substantial but I think the truthful response is change um people have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to keep track of and this technique does present several obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this improved ability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
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