Find out more about Papaya Global Install Module ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Staff member Website offers staff members with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to global staff members no matter the variety of employees in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, develop local accounts and have a minimum number of employees.
The HR capabilities offered by Global HR encompass different functions such as keeping an eye on trip time, making sure compliance, assisting in the procedure of welcoming new employees and bidding farewell to departing ones, using a secure online platform for keeping employees' files, and providing support for work permit treatments in case your employees require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall employment expenses distributed per place, total work expenses per cycle and a lot more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work across business managing and structure external relationships supporting Business customers and solutions along with functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of prominent business worldwide we offer payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon excellent night depending upon where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I've kind of had a range of different roles on the service provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everyone another number of uh well one of 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 interesting and I can see it going on already just to hear where everyone is um it's nice to to type 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 very really uninspiring and I wish I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining different checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will likewise supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for services operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how business anticipate payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a challenging task into a strategic asset.
Handling payroll worldwide is a daunting task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and organizations adds to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual procedures, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. In spite of living in an era of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar objectives to provide insights and services to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of global services have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors badly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is delivered to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they depend on the required multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a good question I always toss this back and state what is it what does not require to be consisted of 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 country there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is absolutely vital 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 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 definitely fundamental and innovation is permitting us to kind of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so again you're simply seeking to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we operate 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 age of tech and a period that you know that we are operating in today there is no reason why we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an impact perspective on employees it is absolutely critical that it's done correctly and on time so what we suggest 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 damaging impact on people's well-being and lots of other factors if people aren't paid uh I've always been amazed entering this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the first International Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll service for your staff members worldwide once again I think is another substantial um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of organizations and minimizing the variety of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
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 associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions envision getting that many 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 certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to return to everyone so carrying on appearance why do companies select to primary separate savings account there are services out there doing exactly this for particular nations and I have actually worked in a business or lots of services doing precisely that I can say it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need to and any person that's managing that process 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 many factors one is it's the standard I believe people have got so used to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it needs altering but ultimately people are very stuck to what they recognize
with ideal um change is a tough thing all of us don't like change um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving numerous bank accounts however there's a huge amount of complexity goes with setting up a bank account keeping it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is huge but I think the honest response is modification um people haven't had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century or so there is a lot to track and this approach does posture numerous difficulties um so Johnny could you tell us about those challenges yeah of course 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 jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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