Find out more about Papaya Global Can I Resubmit Year End ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and reputable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app simplifies my payroll process, conserving me a considerable quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Worker Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to worldwide staff members despite the number of employees in the business. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work license help.
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 location, total work expenses per cycle and far more.
Worldwide, I have demonstrated management and tactical competence in assisting massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to meet 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 years of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of different roles on the company side and also on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 everybody originates from and I really do hope it's much sunnier than it remains 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 very really uninspiring and I want 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 difficulty years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex difficulty for services operating worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a difficult job into a strategic possession.
Handling payroll globally is a complicated task due to different policies, compliance requirements, information security issues, and banking rules. The sheer number of workers and companies contributes to the complexity, with an estimated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently lead to manual procedures, data silos, and an absence of combination, resulting in inconsistencies and ineffectiveness. Despite living in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to provide insights and services 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 only 11 of organizations say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in international payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of international services have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count on the required numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's a good question 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 considered 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 need 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 building a knowledge base is definitely critical however everywhere you look with payroll payment they are like super payments no if however some infants 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 absolutely essential and innovation is enabling us to type of move forward with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry 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 individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to add to type of the level of complexity there's a growing number of advantages being organ or being provided by organizations throughout the world so once again you're simply wanting to add a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments works 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 but 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 require to develop extra handoffs in the processes that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from a cost point of view from an impact viewpoint on workers it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on people's well-being and numerous other elements if individuals aren't paid uh I've always been impressed entering into this Market type of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's viewed externally also. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Using the very first International Payments very first payroll payment solution is a fantastic preliminary step towards offering an extensive payroll service for workers worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts needed for worldwide payroll are key consider attaining organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyhow we know how how essential 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 simple as possible for everybody that's associated with those processes and also so envision sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and in fact see what was going on and sort of try to return to everybody so proceeding look why do business choose to primary different bank accounts there are businesses out there doing exactly this for particular nations and I've worked in a service or lots of organizations doing precisely 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 have to and anyone that's handling that process 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 believe lots of reasons one is it's the requirement I think individuals have actually got so used to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced 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 believe there's a variety I think this is a process that requires taking a look at it requires altering but ultimately people are very stuck with what they're familiar
with best um change is a tough thing we all do not like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping several savings account but there's a substantial quantity of intricacy chooses setting up a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private individuals so the complexity is big however I think the honest response is modification um people haven't had the ability to alter or have not had necessarily the understanding 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 think it is understanding you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to monitor and this method does position several obstacles um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Aeo