Find out more about Papaya Global Bangalore Location ... 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 obtained a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and dependable technique of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Employee Portal offers staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to international employees despite the number of workers in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every nation, produce local accounts and have a minimum variety of workers.
The HR capabilities provided by International HR incorporate various functions such as keeping an eye on holiday time, making sure compliance, helping with the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, using a secure online platform for saving workers' documents, and providing support for work allow procedures in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work costs dispersed per location, overall work expenses per cycle and far more.
Worldwide, I have actually shown management and strategic competence in guiding massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll strategies, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for most prominent companies worldwide we provide payroll payments and labor force management to all staff member enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good evening depending upon where you remain in the world it's beautiful to satisfy 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 been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the company side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly 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 drizzling here it's extremely very dreary and I wish 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 challenge years of handling Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also discuss a recap and that should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more typical and managing them becomes more and more complex Global organizations are looking to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment viewpoint numerous companies maintain different checking account just for payroll while some have multiple accounts in different countries does it make good sense for business to preserve separate savings account in some cases in various countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business simplify the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for organizations operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a troublesome job into a tactical asset.
Handling payroll worldwide is a challenging task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of staff members and services contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and inadequacies. Despite living in an era of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and options to streamline and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they don't 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 information data entry errors improperly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the wrong place the average 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 don't run efficiently if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to employees or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to kind of move on with that it likewise too to add to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to contribute to type of the level of complexity there's increasingly more benefits being organ or being provided by services throughout the world so once again you're simply seeking to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or real tough type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of decades 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 job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply 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 age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from a cost point of view from an effect viewpoint on workers it is absolutely 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 biggest destructive impact on individuals's wellness and lots of other factors if individuals aren't paid uh I have actually constantly been impressed coming into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential 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 simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the first International Payments very first payroll payment service is a terrific first step um supplying an end-to-end payroll option for your workers globally once again I believe is another big um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of businesses and decreasing the number of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 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 actually doing that for for the thanks
anyway we understand how how important a function 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 everyone that's associated with those processes and likewise so think of sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and kind of shot to get back to everyone so carrying on appearance why do companies pick to main different checking account there are services out there doing precisely this for particular countries and I have actually operated in an organization or lots of organizations doing precisely that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have to and anybody that's dealing with 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 think many factors one is it's the standard I believe individuals have actually got so used to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs changing but eventually people are really stuck with what they recognize
with best um modification is a hard thing all of us do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving several checking account but there's a substantial quantity of complexity opts for setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is huge however I think the sincere response is modification um individuals haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century or so there is a lot to monitor and this technique does pose a number of difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location