Find out more about How To Run Payroll Papaya Global ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a protected and trusted technique of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app streamlines my payroll procedure, saving me a significant amount of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to worldwide workers no matter the number of workers in the business. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every nation, develop local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, total work costs distributed per location, overall work costs per cycle and a lot more.
Internationally, I have demonstrated leadership and strategic expertise in assisting large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for supervising payroll strategies, as mentioned by Mark. My function includes handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for most influential business in the world we offer payroll payments and workforce management to all staff member enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent night depending on where you are in the world it's lovely to satisfy 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 market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I've sort of had a range of various functions on the company side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another couple 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 fascinating 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 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 really really bleak and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to optimize working capital, and discover how enhancing global payroll payments can change them from a troublesome job into a tactical asset.
Managing payroll internationally is a complicated task due to numerous guidelines, compliance requirements, information security concerns, and banking rules. The large number of employees and companies adds to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of combination, causing inconsistencies and inadequacies. In spite of living 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, frequently utilizing pen and paper. This webinar aims to supply insights and solutions 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 just 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a service spends on international payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide companies have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors inadequately interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't need 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 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely important but everywhere 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 take a 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 definitely basic and technology is allowing us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work more detailed together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to add to type of the level of complexity there's increasingly more advantages being organ or being used by organizations across the world so once again you're simply aiming to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real difficulties or genuine difficult type of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would definitely state that the bigger a business 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 groups feeding details into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not always require 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 simply make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any business has from an expense point of view from an effect point of view on staff members it is absolutely vital that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful result on individuals's well-being and lots of other elements if people aren't paid uh I have actually constantly been amazed entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has been informed 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 employees or not um but ultimately payroll is such a crucial cycle all of us hear about 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is a great initial step um supplying an end-to-end payroll option for your employees worldwide once again I believe is another big um procedure again aligning and guaranteeing you have standardization International procedures all of those things are definitely key to success success of services and reducing the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everybody that's associated with those procedures and also so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh definitely 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 check out them and actually see what was going on and type of try to return to everyone so carrying on look why do business pick to primary different savings account there are businesses out there doing exactly this for particular countries and I have actually operated in a business or lots of companies doing precisely that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not developing additional work for any person where we do not need to and any person 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 numerous factors one is it's the standard I think people have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it requires altering but eventually individuals are really stuck with what they recognize
with ideal um modification is a difficult thing all of us don't like change um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving multiple checking account but there's a substantial quantity of intricacy opts for setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is big but I think the sincere response is modification um individuals have not been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century or two there is a lot to keep an eye on and this method does pose several challenges um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your accomplishments.
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