Find out more about Papaya Global Payroll Bellingham Wa ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trustworthy approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a substantial quantity of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Employee Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to international workers no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source regional advantages providers in every nation, develop regional accounts and have a minimum number of employees.
The HR abilities offered by Global HR incorporate various functions such as monitoring trip time, guaranteeing compliance, assisting in the procedure of inviting new employees and bidding farewell to leaving ones, offering a safe online platform for keeping employees' files, and offering support for work permit treatments in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per area, total employment expenses per cycle and much more.
Internationally, I have shown management and tactical know-how in guiding massive populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for managing payroll methods, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to fulfill 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 industry, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've sort of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really 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 very gloomy and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in enough in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of factors most significantly policies compliance information security and banking guidelines then there are the sheer numbers they add additional intricacy the worldwide Workforce is currently 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 presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll model there's often a frustrating number of various systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or extremely extremely basic there's no real consistency structure we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of global businesses have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations along with absence management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the required numerous processes systems and partners it is simply 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 paying to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require 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 abilities so can you pay it from International or do you have 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 right eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they are like extremely payments no if but some children 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 acknowledgment that payroll payments are absolutely essential and innovation is permitting us to sort of progress with that it also as well to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams 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 anyone what is payroll who does not work in the payroll profession 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is ending up being increasingly elaborate. Companies are continually presenting new advantages and payment options, which contributes to the overall intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can result in inadequacies and bottlenecks. In my opinion, this doesn't have to hold true. In today's technically sophisticated era, there's no justification for keeping cumbersome procedures. Payroll, the company's most significant cost, should be processed properly and on time. Even minor hold-ups can negatively impact staff members' wellness and have far-reaching effects. For that reason, it's crucial to focus on precise and timely payments.
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only observe when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally also. For that reason, it is important to make sure that jobs like Wi-Fi International and other vital matters are done properly. Utilizing the very first Worldwide Payments first payroll payment service is a fantastic initial step towards offering a thorough payroll option for staff members worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and bank accounts necessary for global payroll are essential factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyway we understand 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 involved in those procedures and also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly 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 but it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and kind of shot to get back to everybody so carrying on look why do companies select to main separate savings account there are companies out there doing exactly this for specific nations and I've worked in an organization or numerous organizations doing exactly that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not have to and anybody 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 quantity that we are I believe many reasons one is it's the standard I think people have actually got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a procedure that requires looking at it requires changing but eventually individuals are extremely stuck to what they're familiar
with best um modification is a hard thing all of us do not like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping multiple savings account but there's a substantial quantity of complexity goes with setting up a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial however I believe the honest response is change um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or so there is a lot to keep track of and this technique does pose a number of difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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