Find out more about Papaya Global Payroll And Zoho Integration ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and reputable method of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll process, conserving me a considerable amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Worker Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to global workers no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every country, develop local accounts and have a minimum variety of staff members.
The HR capabilities provided by Worldwide HR incorporate numerous functions such as keeping track of holiday time, making sure compliance, assisting in the process of inviting new employees and bidding goodbye to leaving ones, providing a safe online platform for saving employees' documents, and providing support for work allow procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall work costs dispersed per place, total work costs per cycle and far more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Business customers and services as well as functioning as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure 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 years of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of different 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 everybody fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely gloomy and I want I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they add further complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll design there's frequently an overwhelming number of different systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely very fundamental there's no genuine consistency framework we're residing in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind whenever I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of global services have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations along with absence management and system configurations and then when you round it all off and the information is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties company face when they're paying to workers or otherwise that's a good question I constantly toss this back and say what is it what does not need to be included right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 any place you look ideal eventually building a knowledge base is absolutely vital but 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 type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to kind of move forward with that it also as well to add to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 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 however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is ending up being progressively elaborate. Businesses are continually presenting brand-new benefits and payment alternatives, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into different groups, which can result in inefficiencies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's technologically advanced era, there's no validation for keeping troublesome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even minor delays can adversely affect employees' wellness and have significant effects. Therefore, it's vital to prioritize precise and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things fail. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's perceived externally too. For that reason, it is important to make sure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Worldwide Payments first payroll payment solution is an excellent preliminary action towards supplying a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and checking account essential for worldwide payroll are key factors in accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyway we know how how crucial 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was simply gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and kind of shot to return to everybody so moving on appearance why do companies select to primary different savings account there are companies out there doing exactly this for specific nations and I have actually worked in a service or many organizations doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not purposely doing that we're not producing extra work for anyone where we don't need to and any person that's managing that process 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 standard I think individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that needs looking at it requires altering but ultimately people are extremely stuck with what they're familiar
with right um modification is a challenging thing we all don't like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving multiple savings account however there's a huge amount of intricacy opts for setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is substantial however I think the sincere response is modification um individuals haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you understand 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 benefits and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century or so there is a lot to keep an eye on and this method does pose several challenges um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you switched our Business 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 employees you are worthy of a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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