Find out more about Papaya Global Payroll Integration With Quickbooks ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and dependable approach of making payments to our 10,000 staff members worldwide.}
The innovative worldwide payroll management app simplifies my payroll process, saving me a substantial amount of time monthly. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages plans to international employees despite the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source regional benefits companies in every nation, develop regional accounts and have a minimum variety of staff members.
The HR abilities provided by Worldwide HR encompass various functions such as keeping track of vacation time, guaranteeing compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to leaving ones, providing a protected online platform for storing employees' files, and supplying assistance for work allow treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall work expenses distributed per place, overall employment costs per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Business clients and options along with acting as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to fulfill 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 years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the provider side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I actually 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 extremely very dreary and I want I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business preserve different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to optimize working capital, and discover how enhancing international payroll payments can transform them from a difficult job into a strategic property.
Handling payroll globally is a daunting job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, information silos, and an absence of combination, leading to inconsistencies and ineffectiveness. In spite of residing in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and optimize international payroll payments.
about it to offer 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 gives me sleep deprived nights and quite frankly the more a business spends on worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide services have revealed that they do not 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 information entry mistakes badly interacted hires and terminations along with absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they depend on the needed multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're paying to workers or otherwise that's a great question I always toss this back and state what is it what does not require to be consisted of best and what does
it require to be thought of there's differing 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if but 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 definitely essential and technology is allowing us to sort of move on with that it also as well to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance groups work more detailed together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information 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 live in and well-being being a growing number of essential to add to sort of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so once again you're simply looking to include more and more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would certainly say that the bigger 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 teams feeding info into the next function as it were that's in fact managing the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any company has from a cost point of view from an effect point of view on employees it is absolutely 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 have to be done right it has the greatest detrimental impact on people's wellness and lots of other elements if individuals aren't paid uh I have actually always been astonished entering this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been told 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 employees or not um however ultimately payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but 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 important that all of this things is done properly so leveraging the first International Payments very first payroll payment option is a great primary step um offering an end-to-end payroll option for your staff members globally again I think is another huge um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of organizations and decreasing the variety of tools platforms and checking account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever 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 grievances where things have not gone quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 simple as possible for everybody that's involved in those processes and also so picture sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to return to everybody so proceeding appearance why do business choose to main different checking account there are businesses out there doing precisely this for specific countries and I have actually worked in an organization or numerous companies doing precisely that I can state it does not always feel effective and it does create more work I know we're not intentionally doing that we're not producing extra 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 many factors one is it's the requirement I believe individuals have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety 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 gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but eventually individuals are really stuck with what they're familiar
with best um change is a tough thing all of us don't like modification um so I think it's simply kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining several bank accounts however there's a big quantity of complexity opts for setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is huge but I think the truthful answer is change um people haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no real reason 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 keep track of and this method does posture numerous difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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