Find out more about Papaya Global Payroll Services Review ... We now have the ability to manage 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 managing payments. This offers us with a safe and secure and reputable approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app enhances my payroll procedure, saving me a considerable amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Portal offers workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to international workers despite the number of staff members in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every country, produce regional accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total employment expenses distributed per location, total employment expenses per cycle and far more.
environments across the globe I offered 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 stated I work across business managing and structure external relationships supporting Enterprise clients and services as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a range of different roles on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely dreary and I want 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 taking a look at the obstacle years of handling Global payroll why business keep different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most notably regulations compliance information security and banking guidelines then there are the large numbers they include more intricacy the global Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people 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 worldwide in the traditional payroll model there's often an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or very extremely basic there's no real consistency framework we're residing in an era 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 typically with pen and paper and that just blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in international payroll the less of an image they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide services 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 due to time reporting bad HCM data data entry errors poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the essential several processes 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 business face when they're making payments to staff members or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's intricacy any place you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a 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 basic and innovation is permitting us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation 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 data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more important to contribute to kind of the level of complexity there's increasingly more advantages being organ or being used by organizations throughout the world so again you're simply aiming to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real obstacles or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and a period 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 biggest liability that any organization has from an expense perspective from an effect perspective on workers it is definitely important that it's done correctly and on time so what we imply 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 harmful result on people's wellness and lots of other aspects if individuals aren't paid uh I have actually always been impressed entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the first International Payments very first payroll payment option is a great initial step um supplying an end-to-end payroll service for your workers worldwide once again I believe is another substantial um procedure once again lining up and ensuring you have standardization International procedures all of those things are definitely crucial to success success of businesses and reducing the number of tools platforms and bank accounts they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyway we know how how essential 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 think of sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that lots of 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 an intriguing task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so moving on look why do business select to main different savings account there are businesses out there doing exactly this for particular countries and I've worked in a business or numerous companies doing precisely that I can state it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't have to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I think people have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have actually 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 procedure that requires looking at it requires altering but eventually people are very stuck to what they're familiar
with best um change is a challenging thing all of us do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having maintaining numerous savings account however there's a big amount of complexity goes with establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is substantial however I believe the truthful answer is change um people haven't been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this method does present a number of obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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