Find out more about Papaya Global Maternity Pay ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and reliable technique of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app improves my payroll procedure, conserving me a considerable quantity of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Employee Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The website is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive benefits bundles to worldwide workers no matter the number of employees in the business. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every nation, develop local accounts and have a minimum variety of employees.
The HR capabilities provided by Worldwide HR incorporate various functions such as keeping an eye on trip time, guaranteeing compliance, facilitating the process of inviting brand-new workers and bidding goodbye to leaving ones, offering a secure online platform for storing workers' documents, and providing assistance for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment expenses dispersed per area, total work costs per cycle and far more.
Worldwide, I have demonstrated leadership and strategic know-how in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role includes handling and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for most influential business on the planet we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great night depending upon where you are in the world it's charming 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 have actually remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've kind of had a range of different roles on the supplier side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everyone originates 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 bleak and I want I was elsewhere at this moment in time fine 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 companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll likewise go over a recap which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and handling them becomes more and more complicated Global organizations are looking to find Solutions and new methods to simplify procedures especially from a payroll and cross-border payment viewpoint many organizations keep different checking account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different checking account often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business streamline the episode complex processes of
Making sure precise, efficient, and timely payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll costs to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll globally is a daunting task due to numerous regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual processes, data silos, and an absence of integration, resulting in disparities and inadequacies. Despite living in an era of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to supply insights and services to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global businesses have actually revealed that they do not 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 data entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they depend on the necessary several processes 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 workers or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the client's own in-country account so there's complexity any place you look right ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is allowing us to sort of move on with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being provided by organizations across the world so again you're simply wanting to include increasingly more payments to this already intricate landscape so if you sort 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 real challenges or genuine challenging type of pay uses to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we run 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 an era that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from an expense viewpoint from an effect point of view on staff members it is definitely important 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 detrimental result on people's well-being and many other factors if people aren't paid uh I've always been amazed entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all hear 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 exercise and I believe 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 stuff is absolutely important that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a terrific first step um providing an end-to-end payroll solution for your staff members internationally again I believe is another substantial um process again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of companies and decreasing the variety of tools platforms and savings account they need 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 countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyhow we know 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and sort of try to get back to everybody so proceeding look why do companies select to primary separate bank accounts there are organizations out there doing precisely this for particular countries and I have actually worked in a business or many organizations doing precisely that I can say it doesn't constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't need to and anyone that's managing 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 lots of reasons one is it's the standard I think individuals have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however ultimately people are really stuck with what they recognize
with best um change is a challenging thing we all don't like modification um so I believe it's simply kind of moving far 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 multiple checking account however there's a substantial amount of intricacy opts for establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is huge however I believe the truthful response is change um individuals haven't had the ability to change or have not 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 knowledge you understand and there is an element of resistance to change however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep track of and this method does position numerous difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Business 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 acquired another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is more detailed, considering your achievements.
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