Find out more about Papaya Global Payroll Frequently Asked Questions ... 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 obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to worldwide employees despite the variety of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work costs distributed per area, overall employment costs per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise clients and solutions along with functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a range of various roles on the company side and also on the vendor side from a payroll point of view so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone 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 raining here it's very extremely uninspiring and I wish I was somewhere else at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. 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 also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most significantly regulations compliance data security and banking guidelines then there are the large numbers they include further intricacy the worldwide Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll design there's often an overwhelming variety of various systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or extremely extremely standard there's no real consistency structure we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations as well as absence management and system setups and after that when you round it all off and the data is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they count on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what does not need to be included ideal and what does
it require to be considered there's varying 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 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 eventually constructing a knowledge base is definitely crucial but 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 take a look at the kind of link in 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 enabling us to kind of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of important to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so once again you're just aiming to include more and more payments to this currently complex landscape so if you sort 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 genuine obstacles or real difficult type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of years I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to produce extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any organization has from an expense point of view from an effect point of view on workers it is definitely important 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 biggest damaging impact on people's wellness and numerous other factors if individuals aren't paid uh I've always been astonished coming into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the very first International Payments very first payroll payment option is an excellent initial step um offering an end-to-end payroll service for your workers internationally again I think is another big um process again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies and minimizing the variety of tools platforms and savings account they require for their Global 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 thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 everybody that's involved in those processes and also so picture sorry I'm simply I was just gon na say envision the quantity 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 numerous thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing job trying 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 require days of the week to attempt to check out them and actually see what was going on and type of try to get back to everybody so moving on appearance why do business pick to main separate savings account there are businesses out there doing exactly this for specific nations and I have actually worked in a service or many companies doing precisely that I can state it doesn't always feel efficient and it does produce more work I know we're not intentionally doing that we're not developing extra work for any person where we don't need to and any person that's dealing with 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 think numerous factors one is it's the standard I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually 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 ways um to to kind of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering but eventually individuals are extremely stuck with what they recognize
with best um change is a tough thing we all don't like modification um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving several checking account however there's a substantial amount of intricacy goes with establishing a checking account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is huge but I believe the sincere answer is change um people have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is understanding you understand 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 benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to track and this approach does position numerous obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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