Find out more about Papaya Global Coronavirus Update ... 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 actually gotten a different Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Worker Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to international workers regardless of the variety of workers in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, create local accounts and have a minimum number of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment expenses dispersed per place, overall work expenses per cycle and much more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Business customers and solutions as well as serving as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually type of had a variety of various roles on the company side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days 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 type of like see where everybody comes 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 raining here it's extremely extremely dreary and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to standard checking account for handling payroll payments. This is especially useful for international companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how companies forecast payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can transform them from a challenging task into a strategic property.
Managing payroll globally is an overwhelming task due to different regulations, compliance requirements, data security issues, and banking rules. The large number of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Regardless of residing in an era of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and solutions to simplify and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service spends on global payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of international services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they depend on the needed multiple processes 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 difficulties company face when they're paying to workers or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be included ideal 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 nation there's payment amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble extremely payments no if but some babies 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 think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it likewise as well to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely crucial that payroll and finance teams work closer together than ever um I'm constantly surprised when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place 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 type of the level of intricacy there's increasingly more benefits being organ or being offered by organizations throughout the world so once again you're just aiming to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real obstacles or real difficult kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly say that the bigger a business 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 handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and an era that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost point of view from an impact perspective on workers it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and numerous other factors if individuals aren't paid uh I've always been astonished entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has actually been informed 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 workers or not um but ultimately payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think 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 crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is an excellent primary step um supplying an end-to-end payroll service for your employees internationally again I believe is another substantial um process again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of companies and lowering the variety of tools platforms and bank accounts they need for their Global 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 have actually never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone quite where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how important 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 simple as possible for everybody that's associated with those procedures and likewise so picture sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so carrying on appearance why do companies pick to primary different checking account there are companies out there doing precisely this for specific nations and I have actually operated in an organization or numerous services doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing extra work for any person where we do not need to and any person 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 think many reasons one is it's the standard I believe people have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a process that needs looking at it requires altering but ultimately individuals are extremely stuck with what they recognize
with right um change is a tough thing we all don't like change um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous checking account however there's a substantial quantity of complexity chooses establishing a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is huge however I think the truthful response is change um people haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter but we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or so there is a lot to monitor and this approach does present a number of challenges um so Johnny could you inform us about those challenges yeah of course 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Aeo