Find out more about Papaya Global Bangalore Office Address ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and dependable approach of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll procedure, saving me a considerable amount of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive advantages bundles to worldwide employees no matter the number of employees in the business. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create local accounts and have a minimum number of employees.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work expenses distributed per place, total work costs per cycle and a lot more.
Globally, I have demonstrated management and tactical know-how in directing massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your important 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 focused on payroll and payment services for the past seven years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of different functions on the supplier side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody 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 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 very extremely bleak and I wish I was somewhere else at this moment in time okay so let's get going our program 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 separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also review a wrap-up which must leave his time at the extremely 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 increasingly more typical and managing them ends up being a growing number of complex Global companies are aiming to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment viewpoint many organizations preserve different checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to keep different savings account sometimes in different countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex procedures of
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll expenses to enhance working capital, and find how streamlining international payroll payments can change them from a burdensome job into a strategic asset.
Handling payroll globally is a challenging job due to different guidelines, compliance requirements, information security issues, and banking rules. The large variety of workers and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and inadequacies. Despite residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to offer insights and services to simplify and enhance international payroll payments.
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 Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a business spends on international payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the incorrect place the average expense 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 don't run efficiently if they rely on the necessary numerous procedures 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 obstacles company face when they're paying to workers or otherwise that's a good concern I always toss this back and state what is it what does not require to be included ideal 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 intricacy wherever you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if however some infants 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 believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to sort of progress with that it also too to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely imperative that payroll and finance teams work closer together than ever um I'm constantly amazed when people say I have actually 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 divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so often 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 but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high worth on wellness and the settlement landscape is becoming increasingly detailed. Companies are constantly presenting new advantages and payment options, which adds to the total intricacy. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and traffic jams. In my opinion, this does not have to hold true. In today's technologically innovative period, there's no reason for maintaining cumbersome procedures. Payroll, the company's most significant expense, should be processed correctly and on time. Even minor delays can adversely affect staff members' wellness and have far-reaching effects. For that reason, it's important to prioritize accurate and timely payments.
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals only observe when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. Therefore, it is vital to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment option is a terrific initial step towards supplying a thorough payroll option for workers worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and checking account essential for global payroll are essential factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how important 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 simple as possible for everybody that's involved in those processes and also so think of sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't envision 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 sort of try to return to everybody so proceeding look why do business pick to main separate savings account there are companies out there doing exactly this for particular countries and I've worked in a business or lots of services doing exactly that I can state it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anyone 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 quantity that we are I think lots of factors one is it's the requirement I believe individuals have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering but eventually individuals are very stuck to what they recognize
with right um change is a tough thing all of us don't like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping numerous savings account however there's a huge quantity of intricacy goes with setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is substantial however I believe the truthful response is modification um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides 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 a component of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does position several obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I recently made a modification 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 gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering global 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.
Papaya Global Bangalore Office Location