Find out more about Papaya Global Payroll Services App ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Staff member Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to international staff members despite the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses dispersed per place, total work expenses per cycle and a lot more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force 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 introduce himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or two 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 everyone is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really bleak and I want I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why business maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical property uh we'll likewise discuss a wrap-up which ought to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more typical and managing them becomes increasingly more intricate Worldwide organizations are looking to find Solutions and new methods to improve processes particularly from a payroll and cross-border payment perspective many companies keep different bank account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different savings account sometimes in various countries it does however just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include additional intricacy the international Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the standard payroll model there's frequently an overwhelming number of different systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or really very basic there's no genuine consistency framework we're living in an era of tech but payroll has 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 just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on global payroll the less of a picture they see an absence of visibility likewise encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of global organizations 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 mistakes are because of time reporting bad HCM information data entry mistakes improperly communicated hires and terminations along with lack management and system configurations and then when you round it all off and the information is shipped to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to workers or otherwise that's a good question I always toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 anywhere you look best ultimately constructing a knowledge base is definitely crucial however everywhere 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 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 absolutely basic and innovation is allowing us to type of move on with that it also too to add to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the compensation landscape is becoming increasingly complex. Businesses are continually introducing brand-new advantages and payment options, which contributes to the general complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and traffic jams. In my viewpoint, this does not need to be the case. In today's highly sophisticated period, there's no reason for preserving troublesome procedures. Payroll, the business's greatest cost, must be processed properly and on time. Even minor delays can adversely affect employees' wellness and have far-reaching consequences. Therefore, it's important to prioritize precise and prompt payments.
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just observe when things fail. However, when things go right, it's seen as just a routine task. This is how it's viewed externally too. For that reason, it is necessary to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the very first Global Payments very first payroll payment option is a terrific preliminary action towards providing a comprehensive payroll service for workers worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts necessary for global payroll are essential consider achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how crucial a role 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 simple as possible for everyone that's associated with those procedures and also so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean 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 need days of the week to attempt to browse them and really see what was going on and type of try to return to everybody so carrying on appearance why do business pick to primary separate bank accounts there are organizations out there doing exactly this for specific countries and I have actually worked in a service or lots of businesses doing exactly that I can state it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for any person where we don't need to and anybody that's handling 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 amount that we are I think many reasons one is it's the standard I think people have actually got so utilized to we need a new checking 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 think it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires looking at it needs changing however eventually individuals are very stuck with what they recognize
with best um modification is a hard thing we all don't like modification um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having maintaining multiple checking account however there's a big amount of complexity opts for establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is huge but I believe the honest answer is modification um people haven't had the ability to alter or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to monitor and this technique does posture a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle 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 successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments.
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