Find out more about Papaya Global Ireland ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and reliable technique of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll procedure, saving me a significant quantity 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 professionals.
Employee Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to global workers despite the number of staff members in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local advantages service providers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities supplied by International HR include different functions such as keeping track of getaway time, ensuring compliance, assisting in the process of inviting new employees and bidding goodbye to departing ones, offering a safe online platform for keeping workers' files, and offering assistance for work allow procedures in case your workers need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work costs distributed per area, overall employment expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and strategic expertise in directing large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll kind 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 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 sunshine is it it's not no it's it's raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical possession uh we'll likewise review a recap and that should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and handling them becomes more and more complicated Global organizations are seeking to find Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment perspective numerous organizations preserve different bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to keep separate bank accounts often in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies streamline the episode complex processes of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for services operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to optimize working capital, and discover how improving international payroll payments can transform them from a difficult task into a tactical property.
Handling payroll worldwide is an overwhelming task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of integration, leading to disparities and inadequacies. Despite residing in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to offer insights and options to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international services have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they count on the essential numerous 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 company face when they're paying to staff members or otherwise that's a great concern I constantly toss this back and say what is it what does not need to be consisted of right and what does
it require to be thought about there's differing 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 capabilities 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 client's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 innovation is enabling 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 Savings account Particulars differing banking requirements and setup processes is definitely crucial that payroll and financing teams work better together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to type of the level of complexity there's a growing number of benefits being organ or being provided by organizations across the world so again you're just looking to include more and more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an effect perspective on workers it is absolutely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant destructive result on people's wellness and lots of other aspects if people aren't paid uh I've always been surprised coming into this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's viewed externally also. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Using the first International Payments very first payroll payment option is an excellent preliminary step towards offering a comprehensive payroll solution for employees worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and bank accounts essential for worldwide payroll are key consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyhow we understand how how essential 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 everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying 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 attempt to check out them and really see what was going on and sort of shot to get back to everyone so proceeding appearance why do business choose to primary separate checking account there are companies out there doing precisely this for specific nations and I've worked in a business or numerous businesses doing precisely that I can state it does not always feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anybody where we don't have to and anyone 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 believe numerous factors one is it's the requirement I believe people have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it needs changing however ultimately individuals are really stuck to what they're familiar
with best um modification is a challenging thing we all don't like modification um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having maintaining numerous bank accounts but there's a huge amount of intricacy chooses setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is substantial however I believe the sincere answer is modification um individuals have not been able to change or have not had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to track and this method does position numerous difficulties um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you switched our Business 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 workers you should have a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location