Find out more about Papaya Global Employees ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and trustworthy technique of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app improves my payroll procedure, conserving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Employee Portal supplies workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to international staff members no matter the number of employees in the business. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop regional accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall work expenses dispersed per area, overall work expenses per cycle and far more.
Globally, I have shown leadership and tactical expertise in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for most prominent companies worldwide we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon good evening depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various roles on the company side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very very dreary and I wish I was somewhere else 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 business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll likewise go over a wrap-up and that ought to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them ends up being a growing number of intricate Global companies are wanting to discover Solutions and new methods to simplify processes especially from a payroll and cross-border payment standpoint many organizations preserve separate bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to preserve different bank accounts in some cases in various countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies improve the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can transform them from a challenging task into a tactical property.
Managing payroll globally is a challenging job due to different guidelines, compliance requirements, data security issues, and banking guidelines. The sheer number of workers and companies adds to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often result in manual processes, data silos, and a lack of integration, causing disparities and inefficiencies. Regardless of living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to supply insights and options to streamline and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in global payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global 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 data data entry errors improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they rely on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to staff members or otherwise that's a good question I constantly toss this back and say what is it what does not need to be included 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 time frames there's payment abilities 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 customer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 technology is enabling us to sort of move forward with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely important that payroll and finance teams work closer together than ever um I'm always astonished when people say I have actually divided 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 split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on well-being and the settlement landscape is ending up being significantly elaborate. Organizations are continuously introducing brand-new advantages and payment choices, which contributes to the overall complexity. 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 have to hold true. In today's technically innovative period, there's no reason for preserving cumbersome procedures. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even slight delays can adversely affect employees' wellness and have far-reaching effects. Therefore, it's important to focus on accurate and prompt payments.
payroll group get um so I'm unsure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just 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 definitely important that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment service is a terrific initial step um providing an end-to-end payroll option for your staff members internationally once again I believe is another big um process again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses and lowering the variety of tools platforms and bank accounts 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 have actually never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how essential a role 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 easy as possible for everyone that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of shot to return to everybody so proceeding appearance why do companies select to primary different bank accounts there are businesses out there doing precisely this for specific nations and I've worked in a business or numerous companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't have to and anybody that's dealing with that procedure 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 think lots of reasons one is it's the standard I think people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have looked 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 think this is a procedure that needs taking a look at it requires changing but eventually people are really stuck with what they recognize
with right um change is a hard thing we all don't like modification um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having preserving several savings account however there's a substantial quantity of complexity chooses establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific people so the intricacy is huge but I think the honest response is change um individuals haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings 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 change but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century or so there is a lot to keep track of and this method does pose numerous difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range 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 International workers you should have a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan