Find out more about Papaya Global Cyprus ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and trustworthy technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to global employees no matter the number of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs distributed per place, total employment expenses per cycle and a lot more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Enterprise clients and solutions as well as functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating 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 actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex obstacle for companies operating globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can change them from a troublesome job into a strategic property.
Managing payroll internationally is an overwhelming job due to various regulations, compliance requirements, information security issues, and banking guidelines. The large number of staff members and companies contributes to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. In spite of residing in an era of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and services to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a business spends on international payroll the less of a photo they see an absence of presence also reaches payroll payments and failure to properly track these payments can result in compliance mishaps 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 want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with absence management and system setups and then when you round everything off and the information is shipped to the wrong place the average expense 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 count on the needed multiple processes 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 obstacles company face when they're paying to workers or otherwise that's a good concern I constantly toss this back and state what is it what doesn't need to be included right and what does
it require to be thought about there's differing 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 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 consumer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely vital but all over 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 look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to kind of progress with that it also too to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals 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 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern world positions a high worth on wellness and the compensation landscape is ending up being progressively complex. Services are constantly presenting brand-new benefits and payment alternatives, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in ineffectiveness and bottlenecks. In my opinion, this doesn't need to hold true. In today's technically innovative age, there's no reason for keeping troublesome treatments. Payroll, the company's most significant expenditure, must be processed properly and on time. Even small delays can negatively impact employees' wellness and have far-reaching effects. Therefore, it's important to focus on accurate and prompt payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally as well. Therefore, it is essential to make sure that jobs like Wi-Fi International and other important matters are done properly. Using the very first Worldwide Payments first payroll payment service is an excellent preliminary action towards providing a comprehensive payroll option for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and checking account essential for international payroll are essential factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we understand how how crucial 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 simple as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and type of shot to get back to everyone so proceeding appearance why do companies choose to main separate checking account there are organizations out there doing exactly this for specific nations and I have actually operated in a company or many companies doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we do not 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 amount that we are I believe lots of reasons one is it's the standard I believe individuals have got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires looking at it needs changing however ultimately people are very stuck with what they're familiar
with ideal um modification is a tough thing all of us do not like change um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having maintaining several bank accounts but there's a huge quantity of complexity opts for establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is substantial however I think the sincere answer is modification um people haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or so there is a lot to monitor and this approach does position numerous obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a change to our Business 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 acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
Papaya Global Bangalore Office Location