Find out more about Papaya Global Company File ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reputable method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive advantages packages to international staff members no matter the number of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source local benefits service providers in every nation, produce local accounts and have a minimum variety of employees.
The HR capabilities offered by International HR incorporate various functions such as monitoring getaway time, ensuring compliance, assisting in the process of inviting new staff members and bidding farewell to departing ones, providing a secure online platform for saving workers' documents, and supplying support for work allow treatments in case your staff members need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total employment expenses dispersed per location, overall employment costs per cycle and far more.
Worldwide, I have demonstrated leadership and tactical competence in guiding massive populations of over 100,000 employees across 170 nations. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for a lot of influential companies in the world we supply payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon excellent evening depending upon where you are in the world it's lovely to meet 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've been in the payments market for over ten 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 chose to type of make a real go at that over the last five or six years where I've kind of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind 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 type of like see where everyone originates from and I really 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 very extremely uninspiring 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 taking a look at the challenge years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially helpful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a difficult job into a tactical possession.
Handling payroll globally is a difficult task due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large number of employees and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems often lead to manual processes, data silos, and an absence of integration, causing disparities and inadequacies. In spite of residing in an era of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and solutions to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in international payroll the less of an image they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal almost half of international businesses have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors inadequately interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the necessary multiple procedures 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 difficulties business face when they're paying to employees or otherwise that's a great concern I constantly throw this back and state what is it what does not need to be consisted of right and what does
it need to be thought about 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 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 client's own in-country account so there's intricacy anywhere you look right eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if but some babies 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 definitely basic and innovation is allowing us to sort of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm always surprised when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is becoming progressively detailed. Services are continually presenting brand-new benefits and payment choices, which adds to the general complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's highly advanced era, there's no justification for preserving troublesome treatments. Payroll, the company's most significant expenditure, should be processed correctly and on time. Even small delays can negatively impact employees' well-being and have far-reaching effects. For that reason, it's important to prioritize precise and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has been told thank you for processing my payroll correctly 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 an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails but 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 also like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment solution is an excellent primary step um offering an end-to-end payroll option for your workers internationally again I think is another huge um process once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and minimizing the variety of tools platforms and savings account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how important a role 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 everybody that's associated with those procedures and also so picture 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 speaking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and sort of shot to return to everybody so moving on appearance why do business choose to primary separate checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a business or numerous services doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for any person where we do not need to and anybody that's dealing with that process 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 think many reasons one is it's the standard I think people have got so used to we need a new checking account we open an entity and appropriately so you need 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 requirement and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a process that requires taking a look at it needs altering however ultimately individuals are extremely stuck to what they recognize
with best um modification is a tough thing we all don't like change um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping multiple checking account but there's a substantial quantity of intricacy chooses setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the intricacy is substantial however I believe the sincere answer is change um people have not been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century approximately there is a lot to monitor and this method does posture a number of obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just did you switched 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 workers you deserve a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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