Find out more about Papaya Global Payroll Garnishment ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app streamlines my payroll process, conserving me a significant amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to international employees no matter the variety of workers 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 service providers in every nation, create local accounts and have a minimum number of employees.
The HR capabilities provided by Global HR include numerous functions such as keeping an eye on vacation time, guaranteeing compliance, helping with the procedure of welcoming new employees and bidding farewell to departing ones, using a secure online platform for saving employees' documents, and offering support for work allow treatments in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall work expenses distributed per area, total employment expenses per cycle and much more.
environments across the globe I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Enterprise clients and services in addition to serving as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to staff members 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, regardless of your place. It's a satisfaction to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've kind of had a variety of various roles on the supplier side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everybody another number 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 fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 really really bleak 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 obstacle years of handling Global payroll why companies keep different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic property uh we'll likewise review a recap which needs to leave his time at the really 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 workforces end up being a growing number of typical and managing them ends up being more and more complex International companies are aiming to discover Solutions and new ways to simplify processes specifically from a payroll and cross-border payment viewpoint lots of organizations maintain separate checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve separate bank accounts sometimes in various nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add more intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 world in the conventional payroll design there's often an overwhelming number of various systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely really standard there's no genuine consistency structure we're living in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of an image they see an absence of presence also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide businesses have expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes improperly communicated hires and terminations along with absence management and system setups and then when you round everything off and the information is delivered to the incorrect place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the needed several procedures systems and partners it is just 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 paying to workers or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of right 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 timespan 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 customer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and technology is enabling us to kind of progress with that it also also to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely essential that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you stroll 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 frequently 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 likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being provided by companies across the world so once again you're just aiming to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single most significant liability that any company has from a cost point of view from an impact viewpoint on staff members it is absolutely important that it's done correctly and on time so what we indicate 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 detrimental impact on people's wellness and lots of other aspects if people aren't paid uh I've constantly been impressed coming into this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only see when things fail. However, when things go right, it's seen as just a regular job. This is how it's perceived externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first Worldwide Payments first payroll payment option is a terrific initial action towards providing a detailed payroll option for employees worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and checking account necessary for global payroll are key consider attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow we know 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 easy as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and kind of shot to get back to everyone so carrying on look why do companies pick to main different checking account there are companies out there doing precisely this for particular nations and I've operated in an organization or numerous services doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for any person where we do not need to and anyone that's managing 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 think lots of factors one is it's the standard I think individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you require 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 individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing but ultimately individuals are extremely stuck to what they're familiar
with ideal um change is a tough thing all of us 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 great deal of track of stuff um I understand obviously the advantages of having keeping numerous checking account but there's a huge quantity of intricacy opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is huge but I believe the truthful response is change um individuals haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or two there is a lot to monitor and this method does present a number of challenges um so Johnny might you tell us about those challenges yeah naturally so there's a range 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 International staff members you should have a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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