Find out more about Papaya Global Payroll Android App ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Staff member Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to worldwide staff members no matter the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities supplied by International HR encompass different functions such as keeping track of vacation time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to departing ones, providing a safe and secure online platform for saving workers' files, and offering support for work permit procedures in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work costs distributed per area, overall employment costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work across business handling and structure external relationships supporting Business clients and solutions along with acting as a consultant for those of you that don't know who papaya International is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned 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 mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated 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 sort of had a range of various roles on the service provider side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody 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 very very gloomy and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also discuss a wrap-up which should leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and handling them becomes more and more complex Global organizations are aiming to find Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment standpoint numerous companies maintain different savings account just for payroll while some have numerous accounts in various nations does it make good sense for business to preserve different checking account often in various nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping international business streamline the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex obstacle for services operating internationally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how companies anticipate payroll costs to enhance working capital, and discover how enhancing global payroll payments can transform them from a burdensome task into a tactical asset.
Managing payroll globally is a complicated job due to different regulations, compliance requirements, data security concerns, and banking rules. The large number of workers and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, data silos, and a lack of integration, resulting in disparities and inadequacies. Despite residing in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and options to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction nearly half of international services have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes badly interacted hires and terminations along with lack management and system setups and then when you round all of it off and the data is shipped to the incorrect place the average cost 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 don't run efficiently if they rely on the needed several 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 business face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what does not require to be included best and what does
it require to be thought about there's differing Bank details 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 need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to kind of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely vital that payroll and financing groups work better 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 does not work in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to sort of the level of complexity there's increasingly more advantages being organ or being offered by businesses across the world so once again you're just aiming to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real obstacles or real tough type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things however 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 need to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any business has from an expense point of view from an effect viewpoint on staff members it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive effect on people's well-being and numerous other factors if individuals aren't paid uh I've constantly been astonished entering this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your staff members internationally once again I think is another huge um process again lining up and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of services and reducing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial a role 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 easy as possible for everybody that's associated with those procedures and also so envision sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that many 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 task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everyone so carrying on look why do business pick to main different bank accounts there are organizations out there doing precisely this for specific nations and I've operated in a business or many companies doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't need to and any person that's handling 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 numerous reasons one is it's the standard I believe people have actually got so used to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions 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 individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a procedure that requires looking at it requires altering but ultimately individuals are extremely stuck with what they recognize
with best um modification is a difficult thing we all don't like change um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having maintaining numerous savings account but there's a huge quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is big however I think the honest response is modification um individuals have not been able to change or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or so there is a lot to keep track of and this approach does pose several difficulties um so Johnny might you tell us about those difficulties 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 tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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