Find out more about Papaya Global Payroll Denver Co ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and trusted method of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages plans to global staff members despite the variety of staff members in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits companies in every country, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work expenses dispersed per area, overall employment costs per cycle and far more.
Worldwide, I have demonstrated management and tactical know-how in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for managing payroll techniques, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for the majority of prominent companies in the world we supply payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon good evening depending upon where you are in the world it's charming to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually type of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very bleak 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 difficulty years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a strategic property uh we'll also review a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and managing them becomes a growing number of intricate International companies are wanting to find Solutions and new methods to simplify processes particularly from a payroll and cross-border payment viewpoint many organizations keep separate savings account just for payroll while some have several accounts in various nations does it make sense for companies to keep different bank accounts often in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international business enhance the episode complex procedures of
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most notably policies compliance data security and banking rules then there are the sheer numbers they include further intricacy the global Labor force is presently three and a half billion individuals 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 factor in that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll model there's frequently a frustrating number of different systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or really extremely basic there's no real consistency framework we're living in a period of tech but 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 simply 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 gives me sleepless nights and quite honestly the more a service spends on global payroll the less of a photo they see a lack of exposure also reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the information is shipped to the wrong place 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 money around the globe payroll and payments do not run smoothly if they depend on the needed numerous 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 obstacles business face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of best and what does
it require 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 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 have to pay from the customer's own in-country account so there's intricacy any place you look best eventually constructing a knowledge base is definitely vital but all over you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely basic and innovation is permitting us to sort of progress with that it also too to add to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing groups work closer 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 operate 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to type of the level of complexity there's increasingly more benefits being organ or being offered by services throughout the world so again you're simply looking to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real obstacles or real tough type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and rightly as you said payroll is the single biggest liability that any business has from an expense point of view from an effect viewpoint on employees it is definitely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging impact on individuals's well-being and many other aspects if individuals aren't paid uh I've always been astonished coming into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the very first Worldwide Payments first payroll payment option is a fantastic preliminary action towards providing a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account needed for international payroll are essential consider attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyhow we know how how essential a function 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 easy as possible for everyone that's involved in those processes and also so think of sorry I'm just I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that lots of 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 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 in fact see what was going on and sort of shot to get back to everybody so carrying on appearance why do companies pick to main separate savings account there are organizations out there doing exactly this for particular nations and I've worked in an organization or lots of companies doing precisely that I can state it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we don't need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous factors one is it's the standard I think individuals have got so used to we need a brand-new bank 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 think it's just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it needs altering but ultimately individuals are really stuck with what they're familiar
with right um modification is a challenging thing we all don't like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a substantial quantity of complexity opts for setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private people so the complexity is substantial however I believe the sincere answer is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to truly 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 know and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be identified to be the next Century or so there is a lot to track and this technique does posture several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you changed our Enterprise 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 Worldwide employees you deserve a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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