Find out more about Papaya Global Payroll Submit Hours ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 staff members worldwide.}
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The Employee Portal supplies workers with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to worldwide workers regardless of the number of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every nation, develop regional accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment expenses distributed per location, total employment expenses per cycle and much more.
Worldwide, I have demonstrated leadership and strategic knowledge in assisting large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've sort of had a range of different roles on the service provider side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely dreary and I want I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll likewise review a wrap-up and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them ends up being increasingly more complicated Worldwide companies are looking to find Solutions and new methods to enhance processes specifically from a payroll and cross-border payment standpoint numerous companies preserve different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to maintain different bank accounts sometimes in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies improve the episode complex procedures of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one country however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most significantly guidelines compliance information security and banking rules then there are the sheer numbers they include further complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 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 traditional payroll model there's often an overwhelming number of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or very extremely standard there's no genuine consistency framework 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 every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in international payroll the less of a picture they see a lack of presence also reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide companies have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors badly interacted hires and terminations in addition to absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they rely on the necessary multiple 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 obstacles service face when they're paying to workers or otherwise that's a good concern I always toss this back and say what is it what does not need to be included 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 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 need to pay from the customer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is definitely critical however all over you look with payroll payment they are like super 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 recognition that payroll payments are absolutely essential and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to type of the level of complexity there's a growing number of benefits being organ or being used by services across the world so again you're simply seeking to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real difficulties or genuine difficult kind of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason why we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any service has from a cost perspective from an effect point of view on staff members it is definitely important that it's done properly and on time so what we suggest 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 damaging result on people's wellness and many other aspects if individuals aren't paid uh I have actually always been impressed entering this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally also. For that reason, it is vital to ensure that tasks like Wi-Fi International and other essential matters are done correctly. Using the very first Worldwide Payments first payroll payment solution is a fantastic initial action towards offering a comprehensive payroll option for employees worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and bank accounts essential for global payroll are crucial factors in achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyway we understand how how important 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 easy as possible for everybody that's associated with those processes and also so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task trying to clean all those up for sure oh absolutely I can't think of 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 in fact see what was going on and type of try to get back to everyone so moving on appearance why do business pick to main separate bank accounts there are services out there doing precisely this for specific countries and I have actually worked in a service or many companies doing exactly that I can state it doesn't constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we don't have to and anybody that's handling that procedure 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 numerous reasons one is it's the requirement I think individuals have actually got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually 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 lots of other ways um to to sort of do it so I think there's a range I think this is a process that needs looking at it needs altering however ultimately people are really stuck with what they recognize
with ideal um change is a challenging thing all of us don't like modification um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having maintaining numerous checking account but there's a huge quantity of intricacy opts for setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual people so the complexity is substantial however I think the honest answer is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've always 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 could practically be figured out to be the next Century or so there is a lot to keep an eye on and this technique does present several challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your accomplishments.
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