Find out more about Papaya Global Papaya Global Payroll ... We now have the ability to handle both our payroll and payments processes 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 supplies us with a safe and trustworthy technique of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global staff members regardless of the number of employees in the business. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits service providers in every nation, develop local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work expenses dispersed per area, total work expenses per cycle and much more.
Internationally, I have shown leadership and strategic proficiency in guiding massive populations of over 100,000 workers across 170 countries. Currently, I are accountable for supervising payroll techniques, as discussed by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for many influential companies worldwide we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent evening depending upon where you are in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of various functions on the provider side and also on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains 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 really really bleak and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a strategic possession uh we'll likewise discuss a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more common and managing them ends up being a growing number of complex International organizations are seeking to find Solutions and brand-new methods to simplify processes especially from a payroll and cross-border payment viewpoint many organizations preserve different savings account just for payroll while some have several accounts in different countries does it make good sense for companies to keep different checking account sometimes in various nations it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies improve the episode complex procedures of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to optimize working capital, and find how streamlining worldwide payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll globally is an overwhelming job due to various regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems often result in manual procedures, information silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Regardless of residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and solutions to simplify and enhance global payroll payments.
about it to give you a concept 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 gives me sleep deprived nights and rather frankly the more an organization invests in global payroll the less of a photo they see a lack of visibility also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide businesses have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be consisted of best and what does
it need to be thought of there's differing 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 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 consumer's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to type of move forward with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being offered by businesses across the world so once again you're just wanting to include a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine obstacles or real challenging kind of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of decades I would absolutely state 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 task there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you know 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 need to create extra handoffs in the processes that we run in they just 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 operating in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an effect point of view on employees it is definitely crucial that it's done properly and on time so what we imply 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 damaging result on people's wellness and numerous other aspects if people aren't paid uh I have actually constantly been astonished coming into this Market sort of the last five 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 fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. For that reason, it is vital to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Using the very first Global Payments very first payroll payment solution is a great initial action towards supplying a thorough payroll service for staff members worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and bank accounts required for worldwide payroll are essential factors in accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how crucial 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 procedures and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions picture getting that lots of 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 absolutely 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 try to browse them and in fact see what was going on and sort of try to get back to everybody so proceeding appearance why do companies pick to main different savings account there are organizations out there doing precisely this for specific nations and I've worked in a business or lots of services doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not intentionally doing that we're not creating additional work for any person where we do not need to and anyone 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 believe lots of factors one is it's the requirement I believe individuals have got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it requires altering however eventually individuals are very stuck with what they recognize
with right um change is a challenging thing we all don't like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having preserving several checking account however there's a substantial quantity of complexity goes with setting up a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is huge but I think the truthful response is change um individuals have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I think 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 real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century approximately there is a lot to track and this technique does position several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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