Find out more about Papaya Global Israel ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and secure and reliable approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Employee Website
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees despite the number of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages suppliers in every country, produce regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment costs distributed per place, overall employment costs per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that do not understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon excellent evening depending on where you are in the world it's charming to fulfill 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 have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually sort of had a range of different functions on the provider side and likewise on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite 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 originates from and I actually do hope it's much sunnier than it is 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 really bleak and I wish I was elsewhere at this moment in time fine 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 Global payroll why companies preserve different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most significantly guidelines compliance information security and banking guidelines then there are the sheer numbers they add further complexity the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll model there's frequently an overwhelming variety of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or really really fundamental there's no real consistency framework we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service spends on global payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide companies have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's a great concern I always throw this back and say what is it what doesn't require to be included best 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 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 customer's own in-country account so there's complexity any place you look best eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is enabling us to sort of move on with that it likewise as well to add to that payroll and finance require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely imperative that payroll and finance teams work better together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more benefits being organ or being provided by businesses across the world so once again you're just aiming to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine tough type of pay uses to play to pay people I think yeah I suggest over the last well yeah a number of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but 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 additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from a cost point of view from an impact perspective on workers it is definitely crucial 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 greatest detrimental effect on people's well-being and lots of other elements if people aren't paid uh I've always been impressed coming into this Market sort of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just notice when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally also. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment solution is a fantastic initial action towards providing an extensive payroll solution for employees worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are crucial factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyway 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 everyone that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean up 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 need days of the week to attempt to look through them and actually see what was going on and type of shot to get back to everybody so moving on appearance why do business select to primary separate savings account there are organizations out there doing exactly this for particular nations and I've operated in a service or lots of businesses doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for any person where we do not need to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many factors one is it's the requirement I believe individuals have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have 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 many other ways um to to sort of do it so I think there's a range I believe this is a process that needs taking a look at it needs changing however ultimately individuals are really stuck with what they're familiar
with ideal um modification is a tough thing all of us do not like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping multiple checking account but there's a huge quantity of intricacy opts for setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is substantial but I believe the honest response is modification um individuals haven't been able to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or so there is a lot to track and this technique does position numerous difficulties um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering international 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.
Papaya Global Bangalore Office Location