Find out more about Papaya Global Spain ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers staff members with the ability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to global employees despite the number of employees in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional advantages companies in every country, create local accounts and have a minimum variety of workers.
The HR capabilities offered by International HR incorporate different functions such as keeping an eye on vacation time, making sure compliance, facilitating the process of welcoming brand-new staff members and bidding goodbye to departing ones, offering a protected online platform for saving workers' files, and supplying support for work allow procedures in case your workers need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work costs distributed per place, overall employment costs per cycle and much more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for the majority of prominent business on the planet we offer payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great night depending upon where you are in the world it's lovely to satisfy 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 industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a range of various roles on the supplier 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 everybody all right thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is 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 really really gloomy and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll expenses to optimize working capital, and find how simplifying international payroll payments can change them from a difficult job into a tactical possession.
Managing payroll globally is an overwhelming job due to different regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of combination, leading to disparities and inadequacies. In spite of residing in an era of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to supply insights and services to streamline and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a company invests in global payroll the less of a photo they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide services 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 bad HCM information information entry errors poorly interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong place the average expense of an international 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 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 needs to be factored into the challenges company face when they're paying to staff members or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be thought about there's varying 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 need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in 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 permitting us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance teams work more detailed together than ever um I'm always impressed when people 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 profession would they divide the payroll payment from calculation 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 ultimately it's payroll is an end-to-end process it's the point of information 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 reside in and wellness being more and more important to contribute to sort of the level of complexity there's increasingly more advantages being organ or being offered by companies throughout the world so again you're just aiming to add a growing number of payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine difficulties or real challenging sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works 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 know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason why we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an impact viewpoint on employees 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 greatest damaging effect on people's well-being and many other elements if individuals aren't paid uh I have actually constantly been astonished entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it fails but when it goes right it's simply 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 stuff is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment option is a great initial step um offering an end-to-end payroll solution for your workers internationally again I believe is another huge um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of services and decreasing the number of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know how how essential 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 also so picture sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions think of getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and type of try to get back to everybody so carrying on look why do business pick to main different bank accounts there are companies out there doing precisely this for specific nations and I've worked in a company or many companies doing exactly that I can say it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anybody where we don't need to and anyone that's managing 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 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 bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it needs altering but eventually individuals are really stuck to what they're familiar
with ideal um change is a hard thing all of us don't 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 lot of track of things um I comprehend undoubtedly the advantages of having keeping several bank accounts but there's a huge amount of intricacy goes with establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is big but I think the sincere response is modification um individuals have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no real reason for not looking 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 approach does position several challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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