Find out more about Papaya Global Netherlands ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to managing payments. This provides us with a protected and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
The Staff member Website supplies staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to global staff members regardless of the number of staff members in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits companies in every country, develop local 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' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total employment expenses dispersed per location, total work expenses per cycle and far more.
Internationally, I have actually shown management and tactical competence in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My function includes managing and developing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for a lot of prominent business on the planet we offer payroll payments and labor force management to all employee key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've type of had a variety of various functions on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I actually 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 extremely 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 looking at the difficulty years of managing Global payroll why business keep separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a difficult task into a tactical possession.
Handling payroll worldwide is a difficult job due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of staff members and companies contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual processes, data silos, and a lack of integration, leading to inconsistencies and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's a great question I always toss this back and say what is it what doesn't need to be included right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 client's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if but some children 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 acknowledgment that payroll payments are absolutely essential and innovation is permitting us to type of move forward with that it likewise also to add to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 frequently 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 people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by services throughout the world so once again you're simply wanting to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure 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 mean over the last well yeah a couple of years I would definitely state that the bigger an organization 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 actually managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you understand that we are working in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from an expense perspective from an impact viewpoint on workers it is absolutely vital 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 have to be done right it has the most significant damaging impact on people's wellness and lots of other elements if individuals aren't paid uh I have actually always been surprised entering into this Market type of the last five to ten 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 correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent initial step um offering an end-to-end payroll service for your staff members globally once again I believe is another substantial um process again aligning and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and checking account they require 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 countless them within a payroll cycle do not expect 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 rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway 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 everybody that's associated with those processes and also so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly 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 however it would absolutely be an intriguing job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and sort of shot to get back to everybody so moving on look why do business select to primary separate bank accounts there are services out there doing precisely this for particular countries and I've operated in an organization or lots of services doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating additional work for anyone where we don't need 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 amount that we are I believe many factors one is it's the requirement I believe people have got so used to we need a brand-new bank 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 think it's just been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately people are very stuck with what they're familiar
with ideal um modification is a difficult thing we all do not like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining multiple checking account however there's a huge quantity of complexity chooses establishing a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is huge but I believe the sincere answer is change um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we've always 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 could practically be figured out to be the next Century or two there is a lot to track and this approach does posture numerous difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you changed 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 Worldwide employees you are worthy of a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location