Find out more about Papaya Global Payroll Reviewsa ... 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 obtained a different Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll process, saving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Staff member Portal supplies staff members with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to global staff members regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source local advantages companies in every country, develop local accounts and have a minimum number of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, total work costs distributed per location, overall employment costs per cycle and far more.
environments around the world I provided management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and structure external relationships supporting Enterprise customers and options along with functioning as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction 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 decade of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I truly 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 extremely very bleak and I wish I was elsewhere 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 business preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also discuss a recap which should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and managing them ends up being more and more intricate International organizations are seeking to find Solutions and new ways to enhance processes specifically from a payroll and cross-border payment perspective lots of companies preserve separate bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to keep different bank accounts sometimes in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business improve the episode complex procedures of
making payroll payments accurately efficiently firmly and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add further intricacy the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated 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 around the globe in the traditional payroll design there's frequently an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really extremely fundamental there's no genuine consistency structure we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a picture they see a lack of visibility also encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction nearly half of international organizations have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they depend on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a good question I constantly throw this back and state what is it what does not need to be consisted of best and what does
it require to be thought of 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup procedures is absolutely necessary that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end procedure 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 places a high value on wellness and the payment landscape is becoming increasingly elaborate. Services are continually introducing new benefits and payment choices, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my opinion, this does not need to hold true. In today's highly advanced age, there's no validation for maintaining cumbersome procedures. Payroll, the company's most significant expenditure, need to be processed properly and on time. Even small hold-ups can negatively impact workers' wellness and have far-reaching effects. Therefore, it's crucial to focus on precise and prompt payments.
payroll team get um so I'm not sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great 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 workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a fantastic primary step um offering an end-to-end payroll solution for your staff members internationally again I believe is another big um procedure again aligning and ensuring you have standardization Global processes all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and savings account they need for their Global 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how important a function it is and that'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 involved in those processes and also so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and type of try to get back to everyone so carrying on look why do business choose to main separate checking account there are services out there doing exactly this for specific countries and I have actually operated in a company or many services doing precisely that I can say it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not developing extra work for any person where we don't have to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I believe people have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it requires changing but ultimately people are really stuck with what they're familiar
with ideal um modification is a hard thing we all do not like change um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having maintaining numerous savings account but there's a substantial amount of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is huge but I think the truthful response is modification um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century or so there is a lot to track and this method does position several challenges um so Johnny might you tell us about those challenges yeah obviously so there's a variety 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 actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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