Find out more about Papaya Global Hr 40M Venture Partners ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and reputable method of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, conserving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Employee Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide staff members no matter the number of workers in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages providers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities supplied by Global HR include different functions such as monitoring vacation time, ensuring compliance, assisting in the procedure of welcoming new staff members and bidding goodbye to departing ones, using a secure online platform for storing employees' files, and supplying assistance for work permit procedures in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses distributed per area, total work expenses per cycle and much more.
Worldwide, I have demonstrated management and strategic proficiency in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for many prominent business worldwide we offer payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good night depending on where you are in the world it's beautiful to meet 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 have actually been in the payments industry for over 10 years and particularly 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 kind of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of various functions on the company side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I actually 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 raining here it's very really uninspiring and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate checking account for payroll in different nations, virtual accounts and digital wallets use a more streamlined 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 offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can change them from a difficult task into a strategic possession.
Managing payroll globally is a complicated task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The large variety of workers and services contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual processes, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. In spite of living in an age of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and services to streamline and enhance international payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in worldwide payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is delivered to the incorrect place the typical cost of an international 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 don't run smoothly if they depend on the essential 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 obstacles organization face when they're paying to staff members or otherwise that's a good question I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best eventually developing a knowledge base is absolutely crucial but all over you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 allowing us to kind of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high worth on well-being and the compensation landscape is ending up being significantly detailed. Businesses are continually introducing brand-new advantages and payment alternatives, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my viewpoint, this doesn't need to be the case. In today's highly sophisticated period, there's no reason for keeping cumbersome procedures. Payroll, the company's biggest cost, must be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant consequences. Therefore, it's vital to prioritize precise and timely payments.
payroll team get um so I'm not sure anyone on this kind of webinar has actually been informed 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 eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a great initial step um offering an end-to-end payroll service for your employees internationally again I think is another huge um procedure once again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of services and decreasing the variety of tools platforms and savings 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 thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision 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 intriguing task trying 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 need days of the week to try to check out them and really see what was going on and sort of shot to get back to everyone so moving on look why do business select to main separate bank accounts there are organizations out there doing precisely this for particular nations and I've worked in a service or many companies doing exactly that I can state it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for any person where we don't need to and any person that's handling 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 quantity that we are I think many reasons one is it's the standard I think people have got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions 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 the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I think there's a range I think this is a process that requires looking at it requires changing however ultimately individuals are really stuck with what they're familiar
with right um change is a hard thing we all do not like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having preserving multiple bank accounts however there's a big amount of intricacy chooses setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is substantial however I believe the sincere response is modification um people have not been able to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century or so there is a lot to keep an eye on and this approach does position several difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I just did you changed our Enterprise 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 Worldwide workers you deserve a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan