Find out more about Papaya Global Office In Bangalore ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reliable method of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll process, saving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Worker Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to global employees no matter the number of employees in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every country, create regional accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR incorporate different functions such as keeping an eye on vacation time, making sure compliance, helping with the procedure of welcoming new workers and bidding farewell to departing ones, using a secure online platform for storing employees' files, and supplying support for work permit procedures in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment expenses dispersed per location, total employment expenses per cycle and much more.
Internationally, I have actually shown management and strategic competence in assisting massive populations of over 100,000 workers across 170 countries. Currently, I am responsible for managing payroll methods, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for the majority of prominent business worldwide we offer payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending on where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over 10 years and specifically 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 sort of make a real go at that over the last five or 6 years where I have actually kind of had a variety of various functions on the supplier side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing 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 really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very gloomy and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for companies running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, discover how business forecast payroll expenses to enhance working capital, and find how enhancing global payroll payments can transform them from a burdensome task into a tactical property.
Managing payroll globally is a daunting job due to various guidelines, compliance requirements, data security issues, and banking guidelines. The large variety of staff members and services contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently result in manual procedures, information silos, and an absence of combination, resulting in disparities and inadequacies. Despite living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in global payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global 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 mistakes are because of time reporting poor HCM information information entry errors poorly communicated hires and terminations along with lack management and system configurations and after that when you round it all off and the information is delivered 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 need to move the money around the globe payroll and payments do not run smoothly if they rely on the needed multiple procedures 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 organization face when they're paying to staff members or otherwise that's a good question I constantly throw this back and state what is it what doesn't require to be consisted of ideal 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 nation there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble super payments no if however 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 recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it also too to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely imperative that payroll and financing teams work closer together than ever um I'm always impressed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by organizations across the world so again you're just wanting to include a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real difficulties or real tough type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from an expense point of view from an effect point of view on workers it is definitely vital that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest harmful impact on individuals's well-being and numerous other factors if people aren't paid uh I have actually always been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just observe when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally as well. Therefore, it is important to ensure that jobs like Wi-Fi Global and other essential matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a terrific initial action towards providing a thorough payroll service for employees worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and bank accounts required for global payroll are key consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we know 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 simple as possible for everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean 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 need days of the week to attempt to look through them and really see what was going on and type of try to return to everybody so moving on look why do business choose to main different savings account there are businesses out there doing exactly this for particular nations and I've operated in a business or numerous businesses doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and anyone 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 amount that we are I believe many reasons one is it's the requirement I think individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs looking at it needs changing however eventually individuals are really stuck to what they recognize
with best um change is a difficult thing all of us don't like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining several bank accounts but there's a huge amount of complexity chooses establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is huge but I think the sincere response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually 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 understand what might practically be figured out to be the next Century or two there is a lot to monitor and this method does position a number of challenges um so Johnny might you inform us about those challenges yeah obviously so there's a range right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location