Find out more about Budget-friendly Hr Decision Tools With Papaya Global ... 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 gotten a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a secure and dependable technique of paying to our 10,000 workers worldwide.}
The advanced global payroll management app simplifies my payroll process, conserving me a considerable amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Employee Portal offers workers with the capability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to international workers no matter the variety of workers in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional benefits providers in every nation, develop regional accounts and have a minimum variety of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment expenses dispersed per area, overall work expenses per cycle and much more.
environments across the globe I supplied management and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business handling and building external relationships supporting Business customers and solutions as well as functioning as an advisor for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for most influential companies worldwide we offer payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon excellent evening depending upon where you remain in the world it's beautiful to fulfill 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've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
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 range of various functions on the service provider side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join all of us 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 simply to hear where everyone is um it's nice to to sort of like see where everyone 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 extremely really dreary and I wish I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will also offer 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 throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of reasons most significantly policies compliance information security and banking guidelines then there are the large numbers they add more complexity the global Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's often an overwhelming number of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely really standard there's no real consistency framework we're living in an age 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 which simply blows my mind whenever I I think
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 Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance incidents in the last mile of the deal nearly half of international businesses have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors improperly interacted hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is shipped to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're making payments to employees 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 varying Bank details 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they are like super 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 enabling us to kind of move on with that it also as well to contribute to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely imperative that payroll and financing groups work better together than ever um I'm constantly impressed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more essential to add to kind of the level of complexity there's a growing number of advantages being organ or being offered by companies throughout the world so once again you're simply seeking to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real obstacles or real tough kind of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of decades I would definitely say that the bigger a company 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 information into the next function as it were that's actually managing the payment side of things however you know 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 need to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from a cost viewpoint from an effect point of view on staff members it is absolutely vital 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 need to be done right it has the biggest detrimental effect on individuals's well-being and lots of other factors if individuals aren't paid uh I have actually constantly been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's perceived externally also. For that reason, it is vital to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Utilizing the first Worldwide Payments first payroll payment solution is an excellent initial action towards providing a detailed payroll option for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account essential for international payroll are crucial factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyway we know how how important 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 likewise so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job attempting to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and type of shot to get back to everybody so proceeding look why do business choose to primary different savings account there are organizations out there doing precisely this for specific countries and I have actually operated in an organization or lots of companies doing precisely 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 anyone where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe people have actually got so utilized to we require a new savings account we open an entity and rightly 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 simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I think this is a process that needs looking at it requires altering but eventually individuals are really stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like modification um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having keeping numerous checking account however there's a huge quantity of complexity chooses setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is big however I think the sincere response is modification um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand 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 benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep track of and this technique does pose several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just 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 Global employees you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan