Find out more about Papaya Global Employee Reviews ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and reliable method of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app enhances my payroll process, saving me a substantial amount of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Worker Portal provides staff members with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists companies provide competitive benefits packages to international workers no matter the number of workers in the business. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, facilitating the procedure of inviting new workers and bidding goodbye to leaving ones, providing a protected online platform for saving employees' documents, and supplying assistance for work permit procedures in case your workers need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per place, overall work expenses per cycle and far more.
Globally, I have demonstrated management and tactical know-how in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for managing payroll methods, as discussed by Mark. My function involves handling and developing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for many prominent business in the world we supply payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent night depending on where you are in the world it's beautiful 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've been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of various functions on the company side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very dreary and I wish I was elsewhere at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical possession uh we'll likewise review a wrap-up which needs to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and managing them becomes increasingly more complicated International organizations are aiming to discover Solutions and new methods to simplify processes especially from a payroll and cross-border payment viewpoint many companies maintain different checking account just for payroll while some have several accounts in various nations does it make sense for business to maintain separate savings account in some cases in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies simplify the episode complex processes of
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for companies running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can change them from a difficult task into a tactical property.
Managing payroll globally is a complicated job due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual processes, information silos, and a lack of integration, resulting in inconsistencies and ineffectiveness. Despite residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer insights and services to simplify 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 data in real time that's another number that gives me sleep deprived nights and rather frankly the more a service spends on global payroll the less of an image they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal almost half of global services have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors badly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the information is delivered 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 need to move the cash worldwide payroll and payments do not run smoothly if they count on the necessary numerous 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 difficulties company face when they're paying to employees or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included best and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is definitely important that payroll and financing groups work better together than ever um I'm always impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone 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 typically 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 individuals any place 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 add to sort of the level of intricacy there's a growing number of benefits being organ or being offered by companies across the world so again you're just wanting to add increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or real tough kind of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams 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 understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are working in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any business has from an expense point of view from an impact perspective on workers it is absolutely crucial 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 need to be done right it has the greatest detrimental impact on individuals's well-being and many other elements if individuals aren't paid uh I've always been impressed entering this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done correctly so leveraging the first International Payments first payroll payment service is a great first step um supplying an end-to-end payroll solution for your staff members internationally again I think is another huge um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and reducing the number of tools platforms and bank accounts they require 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 anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everyone that's associated with those processes and also so picture sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task trying to clean 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 need days of the week to attempt to check out them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do companies pick to primary different checking account there are companies out there doing precisely this for particular nations and I have actually worked in a company or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not purposely doing that we're not creating extra work for any person where we do not need to and any person that's managing 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 factors one is it's the standard I think people have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have 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 believe this is a process that requires taking a look at it requires altering however eventually individuals are very stuck to what they're familiar
with best um change is a tough thing we all don't like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the advantages of having maintaining several bank accounts however there's a substantial quantity of intricacy opts for 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 specific people so the complexity is substantial however I think the honest response is modification um individuals haven't been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to track and this method does position several challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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