Find out more about Papaya Global Salary Sacrifice ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reliable approach of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Website
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits plans to global workers no matter the number of staff members in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional advantages providers in every nation, develop local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total employment costs dispersed per place, total employment costs per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and tactical competence in assisting massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll techniques, as pointed out by Mark. My function includes handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've kind of had a range of different functions on the company side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer 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 fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really very gloomy and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies maintain different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for global organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can change them from a challenging job into a strategic asset.
Handling payroll globally is a difficult task due to different regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of staff members and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. Despite residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to provide insights and options to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of global companies have actually revealed 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 bad HCM information information entry errors inadequately communicated hires and terminations as well as absence management and system configurations and then when you round everything off and the data is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's a great concern I always throw this back and state what is it what doesn't require to be consisted of ideal 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 amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble very payments no if however some babies 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 definitely essential and technology is allowing us to sort of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance teams work closer together than ever um I'm always surprised when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the settlement landscape is becoming significantly detailed. Businesses are constantly introducing brand-new advantages and payment options, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my opinion, this doesn't need to be the case. In today's technically sophisticated period, there's no reason for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even small hold-ups can negatively affect employees' well-being and have far-reaching repercussions. For that reason, it's important to focus on precise and timely payments.
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just notice when things go wrong. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally too. Therefore, it is essential to ensure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first Global Payments very first payroll payment solution is a great initial step towards providing a detailed payroll option for workers worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and checking account needed for global payroll are key factors in achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how essential 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 processes and also so picture sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying 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 require days of the week to attempt to browse them and really see what was going on and kind of shot to return to everyone so moving on look why do companies pick to primary separate savings account there are organizations out there doing precisely this for particular nations and I have actually operated in a company or many organizations doing precisely that I can state it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for anyone where we do not need to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have 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 lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires looking at it needs changing but ultimately individuals are extremely stuck to what they recognize
with best um change is a hard thing we all don't like change um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having maintaining several savings account however there's a substantial amount of intricacy goes with establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is substantial however I believe the sincere response is modification um people haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this technique does pose a number of obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed 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 International staff members you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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