Find out more about Papaya Global And Accounting Packages ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and dependable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive benefits bundles to global staff members despite the number of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every country, create regional accounts and have a minimum number of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total employment expenses distributed per place, total employment expenses per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Enterprise customers and services in addition to acting as a consultant for those of you that do not understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent companies worldwide we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon great night 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 have actually been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the service provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very really bleak 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 obstacle years of handling Global payroll why companies keep separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for services operating worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and discover how enhancing international payroll payments can transform them from a challenging job into a tactical property.
Managing payroll internationally is an overwhelming job due to various policies, compliance requirements, information security issues, and banking guidelines. The sheer number of staff members and organizations contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual processes, information silos, and an absence of integration, causing inconsistencies and inadequacies. In spite of residing in an age of technological improvements, 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 goals to provide insights and solutions to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a company invests in worldwide payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of international businesses have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're paying to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought of there's differing Bank information 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look right eventually building a knowledge base is absolutely critical but all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link 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 enabling us to sort of progress with that it likewise also to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals say I have actually split 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 calculation 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 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 3rd parties so with the
world we reside in and well-being being a growing number of crucial to add to kind of the level of intricacy there's more and more advantages being organ or being used by businesses throughout the world so again you're just seeking to add more and more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real challenges or genuine difficult type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to create additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact perspective on employees it is definitely crucial that it's done properly 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 damaging effect on individuals's well-being and lots of other aspects if people aren't paid uh I've constantly been amazed entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific 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 hear about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise 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 stuff is definitely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is an excellent initial step um offering an end-to-end payroll service for your staff members worldwide once again I think is another huge um process once again lining up and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of businesses and minimizing the number of tools platforms and savings 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 procedures and also so think of sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and sort of try to return to everybody so moving on appearance why do business pick to primary separate bank accounts there are businesses out there doing precisely this for specific countries and I have actually operated in a business or many businesses doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for any person where we do not need to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous factors one is it's the standard I believe individuals have got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other ways um to to type of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing however eventually individuals are really stuck with what they're familiar
with right um modification is a hard thing we all do not like modification um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping numerous savings account however there's a huge quantity of intricacy opts for setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the intricacy is substantial but I think the honest answer is change um individuals 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 bank account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to keep track of and this approach does position numerous difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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