Find out more about Papaya Global Cancellation Period ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and trusted technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time each month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to global staff members no matter the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every country, produce regional accounts and have a minimum variety of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, overall work expenses distributed per place, total employment costs per cycle and much more.
environments around the world I offered management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout business handling and structure external relationships supporting Enterprise customers and options along with acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for many influential companies in the world we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally 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 very much 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 interested by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a variety of different functions on the company side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody 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 extremely bleak and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets use 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 strategic asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex difficulty for organizations running worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to optimize working capital, and find how simplifying international payroll payments can change them from a difficult job into a tactical property.
Managing payroll internationally is a difficult job due to various policies, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and organizations contributes to the intricacy, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual processes, information silos, and an absence of integration, leading to inconsistencies and inefficiencies. Regardless of living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of global organizations have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors inadequately communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect 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 need to move the cash around the world payroll and payments do not run smoothly if they count on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to workers or otherwise that's a great question I constantly toss this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 customer's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is absolutely vital but everywhere 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 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 fundamental and innovation is enabling us to kind of progress with that it also as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is definitely imperative that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals state I have actually divided 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 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 wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by organizations across the world so again you're just wanting to add a growing number of payments to this already intricate landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you know 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 produce extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they need 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 challenging as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost viewpoint from an impact perspective on workers it is definitely crucial that it's done correctly and on time so what we imply 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 damaging effect on people's well-being and many other factors if people aren't paid uh I've always been surprised entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this things is done properly so leveraging the first Global Payments very first payroll payment option is an excellent primary step um supplying an end-to-end payroll option for your staff members globally again I believe is another substantial um process again lining up and ensuring you have standardization Global processes all of those things are definitely key to success success of companies and reducing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential a function 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 simple as possible for everyone that's involved in those processes and likewise so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business select to main separate bank accounts there are organizations out there doing precisely this for particular nations and I've operated in a business or lots of organizations doing precisely that I can state it does not constantly feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for anyone where we don't need to and any person that's managing that process 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 believe lots of factors one is it's the standard I think individuals have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think 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 individuals have 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 range I think this is a process that needs looking at it requires changing however eventually individuals are really stuck to what they recognize
with ideal um change is a difficult thing all of us don't like modification um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving several bank accounts but there's a substantial amount of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is substantial however I believe the sincere answer is modification um people have not been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what could nearly be figured out to be the next Century or so there is a lot to keep track of and this technique does present a number of obstacles um so Johnny might you tell us about those challenges yeah of course so there's a variety 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 Worldwide workers you are worthy of a corner office with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Aeo