Find out more about Papaya Global Payroll Bonded ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll process, saving me a considerable amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is offered 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 employees despite the variety of workers in the business. The business can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every nation, produce local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total employment costs distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Business customers and solutions in addition to serving as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. 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 company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've type of had a range of different functions on the company side and likewise on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll sort 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 kind of like see where everybody originates 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 very extremely bleak and I wish I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical property uh we'll also go over a wrap-up which must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being more and more typical and managing them ends up being more and more intricate International companies are looking to find Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment standpoint lots of companies maintain separate checking account just for payroll while some have numerous accounts in various countries does it make sense for companies to maintain separate checking account often in various nations it does however just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies streamline the episode complex procedures of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of factors most significantly regulations compliance data security and banking rules then there are the large numbers they include additional intricacy the global Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll design there's often an overwhelming variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or really really standard there's no real consistency framework we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies have actually revealed that they do not 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 poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service 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 need to be included best and what does
it need to be thought about there's varying 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 capabilities 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 consumer's own in-country account so there's intricacy anywhere you look ideal ultimately building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work closer together than ever um I'm constantly surprised 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 work in the payroll profession would they split the payroll payment from estimation 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to kind of the level of intricacy there's more and more advantages being organ or being used by services throughout the world so again you're just looking to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real obstacles or real difficult sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to create extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you understand that we are working in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any organization has from a cost point of view from an effect point of view on employees it is definitely crucial that it's done properly 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 most significant detrimental effect on individuals's wellness and lots of other factors if individuals aren't paid uh I have actually constantly been amazed coming into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us 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 exercise 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 essential that all of this things is done properly so leveraging the first Global Payments very first payroll payment solution is an excellent initial step um supplying an end-to-end payroll option for your employees internationally once again I believe is another huge um process once again lining up and ensuring you have standardization International processes all of those things are absolutely essential to success success of companies and minimizing the variety of tools platforms and checking account they need 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've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 processes and also so picture sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about 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 a fascinating task attempting to clean up all those up for sure oh definitely I can't picture 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 sort of shot to return to everybody so carrying on look why do business select to main different savings account there are businesses out there doing exactly this for specific countries and I've operated in a service or lots of organizations doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anyone where we do not 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 used to we require a brand-new checking 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 just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a procedure that requires taking a look at it needs changing however eventually people are really stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I think it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having keeping numerous checking account but there's a substantial amount of intricacy chooses setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the complexity is huge however I think the truthful response is change um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we have actually constantly done it that way is no real 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 figured out to be the next Century or so there is a lot to monitor and this method does present numerous challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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