Find out more about Papaya Global Change Data Path ... 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 actually gotten a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, conserving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Worker Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages packages to international employees despite the variety of employees in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every country, produce regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses dispersed per area, overall employment expenses per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and services along with acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies in the world we supply payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you remain in the world it's lovely to satisfy 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 have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so really anticipating this discussion 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 all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly 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 very extremely gloomy and I wish I was somewhere else at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially useful for global companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined solution. 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 also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, learn how business anticipate payroll expenses to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll worldwide is an overwhelming job due to numerous regulations, compliance requirements, information security issues, and banking rules. The sheer number of staff members and companies adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. In spite of residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar goals to offer insights and options to streamline and enhance global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more a company invests in global payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the transaction almost half of global organizations have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what doesn't need to be included ideal and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 any place you look right ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to sort of move on with that it likewise too to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more essential to add to type of the level of complexity there's a growing number of benefits being organ or being used by companies throughout the world so again you're just aiming to add a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine challenges or real tough kind of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from a cost perspective from an effect viewpoint on staff members it is absolutely vital 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 destructive impact on people's wellness and numerous other factors if people aren't paid uh I have actually always been astonished entering this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll solution for your employees globally again I believe is another substantial um procedure again lining up and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of services and decreasing the variety of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how crucial 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 everybody that's involved in those processes and likewise so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and actually see what was going on and kind of try to get back to everybody so carrying on look why do companies pick to primary different savings account there are organizations out there doing precisely this for particular nations and I have actually operated in a business or many businesses doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't have to and anyone that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I believe people have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll functions 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 actually embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a process that requires looking at it needs changing but eventually people are really stuck with what they're familiar
with right um modification is a hard thing we all don't like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving several bank accounts but there's a big amount of intricacy chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is big but I think the sincere answer is modification um individuals have not had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to keep track of and this method does posture numerous challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
Nominal Link Settings Papaya Global