Find out more about Papaya Global Contract Length ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and reliable technique of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a significant amount of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Staff member Website offers staff members with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to global employees despite the number of staff members in the business. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source local benefits companies in every nation, produce regional accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total work costs distributed per place, overall work costs per cycle and much more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Enterprise customers and options along with acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great 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've 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 5 or 6 years where I have actually sort of had a variety of different roles on the provider side and also on the supplier side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I truly 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 extremely dreary and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession 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 payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly guidelines compliance data security and banking rules then there are the sheer numbers they add further complexity the global Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll design there's typically an overwhelming variety of various systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or really very fundamental there's no genuine consistency structure we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
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 Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on worldwide payroll the less of an image they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide services have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the necessary multiple procedures 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 difficulties company face when they're making payments to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be included best and what does
it need to be thought of there's differing Bank information 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 abilities 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 complexity anywhere you look best eventually building a knowledge base is definitely vital 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 look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work better together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on wellness and the settlement landscape is becoming progressively detailed. Companies are constantly introducing new benefits and payment alternatives, which contributes to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my viewpoint, this does not need to be the case. In today's technically advanced era, there's no reason for maintaining troublesome treatments. Payroll, the business's most significant expenditure, must be processed properly and on time. Even slight delays can negatively affect employees' well-being and have far-reaching repercussions. Therefore, it's critical to prioritize precise and prompt payments.
payroll team get um so I'm not sure anybody 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 employees or not um however ultimately payroll is such an essential cycle we all become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is a great initial step um supplying an end-to-end payroll solution for your employees internationally once again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of businesses and decreasing the variety of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we understand 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 simple as possible for everyone that's associated with those processes and likewise so think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and sort of try to get back to everybody so carrying on look why do companies pick to main different savings account there are services out there doing exactly this for specific countries and I have actually operated in a company or numerous services doing exactly that I can say it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating additional work for anybody where we don't have to and anybody that's managing that procedure 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 numerous reasons one is it's the standard I think individuals have actually got so used to we require a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted 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 numerous other methods um to to sort of do it so I think there's a variety I believe this is a process that needs looking at it needs changing however ultimately individuals are extremely stuck with what they recognize
with right um modification is a hard thing all of us don't like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having preserving several savings account however there's a huge amount of intricacy opts for setting up a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is substantial but I believe the honest response is modification um individuals haven't had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this approach does posture several difficulties um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I just 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 employees you are worthy of a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo