Find out more about Papaya Global Eps ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and trusted technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, saving me a substantial quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to worldwide employees despite the number of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum variety of workers.
The HR abilities supplied by Global HR incorporate various functions such as keeping track of vacation time, making sure compliance, assisting in the procedure of inviting new staff members and bidding farewell to leaving ones, using a secure online platform for saving employees' documents, and offering assistance for work permit procedures in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall work expenses distributed per location, total employment expenses per cycle and much more.
Globally, I have shown leadership and strategic know-how in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for many prominent companies worldwide we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you remain in the world it's beautiful to meet 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 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 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 have actually sort of had a variety of various roles on the service provider side and also on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really really gloomy and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, efficient, and prompt payroll payments is a complex obstacle for organizations running globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to enhance working capital, and find how enhancing international payroll payments can change them from a difficult task into a strategic asset.
Handling payroll internationally is an overwhelming task due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large variety of employees and companies adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, information silos, and a lack of combination, resulting in disparities and inefficiencies. In spite of residing in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of international organizations have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is delivered to the incorrect location the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely 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 challenges organization face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 complexity any place you look right ultimately constructing a knowledge base is absolutely crucial however all over you look with payroll payment they are like super payments no if but some children 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 acknowledgment that payroll payments are absolutely essential and innovation is permitting us to type of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly impressed when people state I've split payroll and payment um if you stroll 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 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 procedure it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being provided by businesses throughout the world so once again you're just wanting to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real challenges or real tough sort of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less effective and they don't 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 we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost perspective from an effect point of view on staff members it is definitely critical 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 need to be done right it has the biggest harmful effect on people's wellness and many other aspects if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only discover when things fail. However, when things go right, it's seen as just a regular job. This is how it's viewed externally also. For that reason, it is necessary to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the very first Worldwide Payments first payroll payment option is a great initial action towards providing a detailed payroll service for employees worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and checking account required for international payroll are crucial factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
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 involved in those procedures and also so picture sorry I'm just I was simply gon na state envision 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 talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying 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 try to browse them and really see what was going on and kind of shot to return to everybody so carrying on look why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've worked in an organization or lots of businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we don't need to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires altering however eventually individuals are really stuck with what they're familiar
with ideal um change is a tough thing we all do not like modification um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining numerous checking account however there's a huge amount of complexity opts for setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the complexity is big but I think the truthful answer is change um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this approach does position a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Enterprise 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 employees you deserve a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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