Find out more about Papaya Global Switzerland ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and dependable technique of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Worker Portal provides staff members with the capability to access and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to global employees despite the variety of workers in the business. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every nation, create local accounts and have a minimum variety of employees.
The HR capabilities provided by Worldwide HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, using a protected online platform for keeping workers' files, and offering support for work allow treatments in case your staff members need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment costs distributed per area, total employment costs per cycle and much more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Enterprise customers and options in addition to serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for most influential business on the planet we provide payroll payments and workforce management to all employee types in over 160 countries I am pleased to say 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 excellent afternoon great night depending upon where you are in the world it's charming to fulfill you and thank you quite 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 dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a variety of different functions on the company side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join we all 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 currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly 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 really really bleak and I want I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a wrap-up which should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and managing them ends up being a growing number of intricate International organizations are looking to discover Solutions and brand-new methods to simplify procedures particularly from a payroll and cross-border payment perspective numerous companies maintain separate savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain separate savings account sometimes in various nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies simplify the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how business anticipate payroll expenses to enhance working capital, and discover how improving international payroll payments can transform them from a difficult task into a tactical asset.
Managing payroll worldwide is an overwhelming job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The sheer number of workers and services contributes to the complexity, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inadequacies. Regardless of living in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and options to streamline and optimize international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in global payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of global businesses 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 data entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round it all off and the information is shipped to the wrong location the average 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 all over the world payroll and payments do not run efficiently if they count on the necessary 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 difficulties company face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and say 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 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 consumer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link 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 technology is enabling us to type of progress with that it also also to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing groups work closer together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work 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 process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to contribute to sort of the level of complexity there's more and more benefits being organ or being used by businesses throughout the world so once again you're just wanting to include increasingly more payments to this currently complex landscape so if you kind 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 genuine challenges or genuine challenging sort of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years 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 groups doing one part of the job there are groups feeding details 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 require to be the case you understand long gone are the times where we need to create extra handoffs while doing sos that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single biggest liability that any service has from a cost viewpoint from an effect viewpoint on employees it is definitely important 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 individuals's well-being and many other aspects if individuals aren't paid uh I've constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's viewed externally also. Therefore, it is vital to make sure that tasks like Wi-Fi International and other essential matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment option is a fantastic preliminary step towards providing a detailed payroll option for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account essential for global payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyway we understand how how crucial 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 simple as possible for everyone that's associated with those procedures and also so envision sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting 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 require days of the week to try to look through them and really see what was going on and sort of try to return to everybody so carrying on appearance why do business choose to primary separate checking account there are companies out there doing exactly this for particular nations and I've worked in a business or lots of companies doing exactly that I can say it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not creating additional work for anybody where we do not need to and any person 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 many factors one is it's the requirement I think individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering however eventually people are very stuck to what they're familiar
with right um modification is a hard thing all of us do not like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving several checking account however there's a huge amount of intricacy chooses establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the intricacy is big however I think the sincere response is change um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does position several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location