Find out more about Papaya Global Payroll Glassdoor ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and work documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to international employees despite the variety of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every country, create local accounts and have a minimum variety of employees.
The HR capabilities provided by International HR encompass numerous functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of welcoming brand-new employees and bidding goodbye to departing ones, offering a safe and secure online platform for keeping workers' documents, and providing support for work permit treatments in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work expenses dispersed per location, overall employment costs per cycle and much more.
environments around the world I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and structure external relationships supporting Enterprise customers and services in addition to functioning as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused 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 decided to type of make a real go at that over the last five or six years where I've type of had a variety of different roles on the provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating 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 comes from and I actually do hope it's much sunnier than it is 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 really really gloomy and I wish I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially useful for international companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly policies compliance data security and banking rules then there are the sheer numbers they include more intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll model there's frequently an overwhelming number of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely really basic there's no genuine consistency framework we're living 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 typically with pen and paper which simply blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in global payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of international companies have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors improperly interacted hires and terminations along with lack management and system setups and then when you round it all off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a great question I always throw this back and state what is it what doesn't need to be included ideal and what does
it require to be thought about 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 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 intricacy wherever you look right ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to kind of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals state I have actually divided payroll and payment um if you stroll 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 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 however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to add to kind of the level of intricacy there's increasingly more benefits being organ or being used by companies across the world so once again you're simply aiming to add more and more 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 certain however have you got any experience in kind of real obstacles or real difficult kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would definitely state that the bigger an organization 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 teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single most significant liability that any company has from a cost perspective from an effect perspective on workers it is definitely important 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 have to be done right it has the biggest damaging effect on people's well-being and many other elements if individuals aren't paid uh I've constantly been impressed entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only see when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that jobs like Wi-Fi Worldwide and other essential matters are done properly. Using the first Global Payments first payroll payment service is a fantastic preliminary step towards offering an extensive payroll service for workers worldwide. Standardization, international processes, and minimizing the number of tools, platforms, and checking account required for worldwide payroll are essential consider attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few complaints when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we understand how how important a function 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 easy as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so carrying on appearance why do business pick to main different savings account there are organizations out there doing exactly this for particular nations and I've worked in a service or lots of organizations doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for any person where we don't need to and anybody 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 lots of factors one is it's the requirement I believe individuals have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it needs altering however ultimately people are extremely stuck to what they're familiar
with ideal um change is a hard thing all of us don't like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having maintaining numerous bank accounts however there's a huge quantity of complexity chooses setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is huge but I think the truthful response is modification um people haven't been able to change or haven't had always the understanding to really 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 change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does pose several obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise 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 gotten another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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