Find out more about Papaya Global Companies House ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a protected and trustworthy method of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to international workers no matter the number of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits suppliers in every nation, create local accounts and have a minimum variety of workers.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work expenses dispersed per place, overall work expenses per cycle and far more.
Worldwide, I have demonstrated management and tactical knowledge in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've sort of had a range of various roles on the provider side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide 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 currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for companies running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to optimize working capital, and find how improving global payroll payments can change them from a challenging task into a tactical property.
Handling payroll worldwide is a complicated job due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The large number of employees and businesses adds to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual procedures, data silos, and an absence of integration, causing inconsistencies and ineffectiveness. In spite of living in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and solutions to streamline and enhance international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service invests in international payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global 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 due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations along with lack management and system setups and then when you round all of it off and the data is delivered to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they rely on the required several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're paying to workers or otherwise that's a great question I always throw this back and say what is it what does not need to be included right 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 timespan 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 customer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to sort of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the compensation landscape is becoming significantly elaborate. Companies are continuously presenting brand-new benefits and payment options, which contributes to the total complexity. Large corporations often divide their payroll and payment processing into separate teams, which can cause inefficiencies and traffic jams. In my opinion, this doesn't need to hold true. In today's technically sophisticated age, there's no justification for keeping troublesome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even minor delays can adversely affect employees' well-being and have far-reaching repercussions. Therefore, it's important to focus on accurate and timely payments.
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the first International Payments first payroll payment solution is a great first step um supplying an end-to-end payroll solution for your workers internationally again I think is another huge um procedure once again aligning and ensuring you have standardization International processes all of those things are definitely crucial to success success of services and minimizing the number 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 terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand how how essential 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 everyone that's involved in those processes and likewise so envision sorry I'm just I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and type of shot to return to everyone so moving on look why do companies choose to primary separate checking account there are companies out there doing precisely this for specific countries and I have actually operated in a service or lots of organizations doing exactly that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't need to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I believe individuals have actually got so used to we require a new checking 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 requirement and the norm individuals have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs altering however eventually people are very stuck with what they recognize
with ideal um change is a hard thing all of us don't like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having preserving several bank accounts however there's a substantial quantity of complexity chooses setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the complexity is substantial however I think the sincere response is modification um individuals haven't had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does present several obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you should have a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Art