Find out more about Papaya Global Embedded Payroll ... 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 gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and secure and reliable method of paying to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a considerable quantity of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Staff member Website supplies staff members with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to global employees despite the number of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local benefits suppliers in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities supplied by International HR encompass numerous functions such as keeping track of getaway time, guaranteeing compliance, facilitating the process of inviting brand-new workers and bidding goodbye to departing ones, providing a protected online platform for keeping workers' documents, and offering assistance for work allow treatments in case your workers require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total employment costs distributed per location, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 workers across 170 nations. Presently, I are accountable for supervising payroll methods, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for most prominent business in the world we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good night depending on where you remain in the world it's lovely 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 ten years and specifically dealing with 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 decided to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the service provider side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing 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 everybody comes 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 raining here it's extremely really gloomy and I wish I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll likewise go over a wrap-up and that should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more typical and handling them becomes more and more complicated Worldwide organizations are aiming to discover Solutions and new ways to improve procedures specifically from a payroll and cross-border payment standpoint numerous organizations preserve separate savings account just for payroll while some have multiple accounts in different countries does it make good sense for companies to keep different checking account in some cases in different nations it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business simplify the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for businesses running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a troublesome task into a tactical possession.
Handling payroll internationally is an overwhelming task due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The large variety of staff members and businesses adds to the complexity, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Regardless of residing in a period of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and options to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a photo they see a lack of presence likewise extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of global services have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round everything off and the information is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties business face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look ideal ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if however 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 think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I have actually 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 an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of complexity there's more and more benefits being organ or being used by companies across the world so again you're simply wanting to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments operates 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 managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any company has from a cost viewpoint from an impact point of view on employees it is absolutely crucial that it's done properly and on time so what we indicate 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 individuals's wellness and many other aspects if individuals aren't paid uh I have actually always been impressed entering this Market kind of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. Therefore, it is vital to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Using the first International Payments first payroll payment option is a fantastic preliminary action towards supplying a comprehensive payroll solution for employees worldwide. Standardization, worldwide processes, and lowering the number of tools, platforms, and bank accounts necessary for worldwide payroll are essential factors in accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Eventually, we don't do it for the thankfulness.
anyway we understand how how important a function 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 also so envision sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and type of shot to return to everyone so moving on look why do business select to main separate checking account there are organizations out there doing exactly this for specific countries and I've worked in a service or numerous organizations doing exactly that I can state it doesn't always feel efficient 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 have to and any person that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous factors one is it's the requirement I think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually embraced 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 many other methods um to to type of do it so I believe there's a variety I think this is a process that requires looking at it needs altering however eventually people are extremely stuck to what they're familiar
with ideal um change is a difficult thing we all don't like change um so I think it's just kind 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 undoubtedly the advantages of having preserving multiple bank accounts however there's a big quantity of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is huge but I think the honest response is change um individuals haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or two there is a lot to track and this method does present numerous obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply 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 staff members you deserve a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art