Find out more about Papaya Global Payroll Contact Information ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and dependable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app simplifies my payroll procedure, saving me a substantial amount of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Staff member Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to worldwide staff members no matter the number of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local benefits providers in every country, produce regional accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall employment costs dispersed per place, total employment costs per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Business customers and solutions as well as acting as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to meet you and thank you for your important 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 focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually sort of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it is 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 really really uninspiring and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business preserve separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll likewise go over a wrap-up which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more typical and handling them ends up being more and more intricate Global organizations are looking to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment perspective many companies maintain separate bank account just for payroll while some have several accounts in different nations does it make good sense for companies to keep separate bank accounts in some cases in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for companies running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a troublesome task into a tactical asset.
Handling payroll internationally is a daunting job due to numerous policies, compliance requirements, information security issues, and banking guidelines. The large variety of employees and organizations adds to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and options 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 only 11 of businesses say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in global payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international organizations have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they count on the required multiple procedures 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 challenges business face when they're making payments to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't need to be included right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely important that payroll and financing groups work better together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately 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 third parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is ending up being significantly elaborate. Services are continually presenting new benefits and payment alternatives, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technologically sophisticated age, there's no reason for keeping cumbersome procedures. Payroll, the company's greatest expense, need to be processed correctly and on time. Even minor delays can adversely affect employees' well-being and have significant effects. For that reason, it's crucial to prioritize precise and timely payments.
The payroll team might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only notice when things fail. However, when things go right, it's seen as just a routine task. This is how it's perceived externally also. For that reason, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other important matters are done properly. Utilizing the first Worldwide Payments first payroll payment option is a terrific preliminary action towards supplying an extensive payroll option for workers worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts required for worldwide payroll are crucial consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we understand how how important 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 everyone that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say 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 discussing hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of try to return to everyone so carrying on look why do companies pick to primary separate bank accounts there are services out there doing exactly this for particular nations and I've operated in a business or many services doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and anybody that's handling 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 think numerous reasons one is it's the requirement I believe individuals have got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires looking at it needs altering but ultimately people are very stuck to what they're familiar
with right um change is a difficult thing we all don't like modification um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having maintaining several bank accounts however there's a huge quantity of intricacy opts for establishing a savings account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is big however I think the sincere answer is change um individuals have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or so there is a lot to keep track of and this method does present a number of obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I simply did you changed 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 workers you should have a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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