Find out more about Papaya Global Bamboohr ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and dependable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Worker Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global assists business provide competitive advantages bundles to international workers no matter the variety of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, overall work expenses dispersed per area, overall employment costs per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Enterprise clients and solutions along with acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really 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 drizzling here it's very extremely dreary and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional savings account for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession 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.
Ensuring precise, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll costs to optimize working capital, and find how improving global payroll payments can transform them from a burdensome job into a strategic asset.
Handling payroll worldwide is a challenging task due to different policies, compliance requirements, data security concerns, and banking rules. The large variety of staff members and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of living in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to offer insights and services to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in international payroll the less of an image 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 transaction almost half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they depend on the needed several 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 challenges business face when they're paying to staff members or otherwise that's a good question I always throw this back and say what is it what doesn't require to be included best and what does
it need to be thought about there's varying Bank details 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 have 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 eventually building a knowledge base is absolutely crucial but 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 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 absolutely essential and technology is permitting us to kind of move forward with that it likewise also to add to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is absolutely essential that payroll and financing groups work better together than ever um I'm always amazed when individuals say 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 computation 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 process it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's a growing number of advantages being organ or being provided by companies across the world so again you're just looking to add more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine difficulties or real difficult sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups 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 but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single most significant liability that any business has from a cost viewpoint from an impact point of view on employees it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest destructive impact on people's wellness and numerous other aspects if individuals aren't paid uh I've always been astonished entering into this Market type of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only notice when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally also. For that reason, it is vital to ensure that tasks like Wi-Fi International and other vital matters are done properly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary action towards offering an extensive payroll solution for workers worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and savings account needed for global payroll are key consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how essential 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 everyone that's involved in those procedures and likewise so envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job 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 attempt to look through them and really see what was going on and kind of shot to return to everyone so moving on look why do business pick to primary different checking account there are organizations out there doing precisely this for particular countries and I have actually worked in a business or many services doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't have to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I believe people have actually got so used to we need a brand-new savings 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 simply been the requirement 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 variety I think this is a process that needs looking at it needs altering however ultimately individuals are very stuck to what they're familiar
with best um change is a hard thing all of us do not like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving numerous checking account however there's a substantial amount of complexity chooses setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial however I think the truthful answer is change um individuals haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this technique does position a number of obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Bangalore Office Location