Find out more about Papaya Global Singapore ... 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 specifically committed to handling payments. This offers us with a safe and trusted approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Portal
Workers have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages bundles to global employees regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as keeping track of vacation time, guaranteeing compliance, facilitating the process of inviting new employees and bidding farewell to departing ones, using a protected online platform for keeping employees' documents, and supplying support for work permit treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work costs distributed per area, total work costs per cycle and much more.
environments across the globe I offered management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business managing and structure external relationships supporting Business customers and services as well as functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great 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 stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven 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 real go at that over the last five or 6 years where I have actually type of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or two to join all of us 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 already simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 really really bleak and I wish I was elsewhere 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 obstacle years of managing Worldwide payroll why companies maintain different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll costs to enhance working capital, and discover how simplifying global payroll payments can transform them from a challenging job into a strategic property.
Handling payroll internationally is a challenging task due to various guidelines, compliance requirements, information security concerns, and banking rules. The sheer number of workers and organizations contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual processes, data silos, and an absence of combination, leading to disparities and inadequacies. Despite living in an age of technological advancements, payroll management has actually been slow 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 options to simplify 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 companies state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a picture they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of international organizations have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to lack management and system setups and then when you round it all 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 need to move the cash all over the world payroll and payments do not run smoothly if they count on the needed several procedures 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 challenges service face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need 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 country there's payment time frames there's payment abilities 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 intricacy wherever you look ideal ultimately developing a knowledge base is absolutely important but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a 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 definitely essential and technology is enabling us to kind of progress with that it also too to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance teams work more detailed together than ever um I'm constantly astonished when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process 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 3rd parties so with the
world we live in and well-being being more and more important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by organizations throughout the world so again you're simply wanting to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real difficulties or genuine challenging type of pay uses to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an impact perspective on workers it is definitely critical 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 harmful effect on people's well-being and lots of other aspects if individuals aren't paid uh I've constantly been astonished coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. For that reason, it is important to make sure that jobs like Wi-Fi International and other important matters are done properly. Utilizing the first Worldwide Payments very first payroll payment option is a great initial step towards offering a detailed payroll solution for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and bank accounts needed for international payroll are essential consider achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyway we understand 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 easy as possible for everybody that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting 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 in fact see what was going on and type of try to return to everyone so carrying on look why do business pick to main separate savings account there are businesses out there doing exactly this for particular nations and I've worked in a business or lots of organizations doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not need to and anyone that's dealing with 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 lots of reasons one is it's the requirement I believe people have actually got so used to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually 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 ways um to to type of do it so I think there's a variety I believe this is a process that requires looking at it requires changing however eventually people are extremely stuck with what they recognize
with best um modification is a challenging thing we all don't like modification um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having maintaining multiple savings account but there's a substantial amount of intricacy chooses establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is substantial however I think the truthful answer is change um people have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to track and this method does posture a number of difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched 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 Worldwide staff members you should have a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan