Find out more about Papaya Global Employer Payroll Tax Calculator ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Employee Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to global employees regardless of the number of staff members in the business. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits companies in every country, produce local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs distributed per place, overall employment expenses per cycle and a lot more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across business managing and building external relationships supporting Enterprise customers and services as well as acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's charming to satisfy 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 market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually sort of had a variety of various functions on the company side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really really gloomy and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. 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 also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex difficulty for services running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll expenses to optimize working capital, and find how simplifying international payroll payments can change them from a troublesome job into a tactical property.
Managing payroll internationally is a complicated task due to different guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of integration, causing disparities and inadequacies. Despite living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to offer insights and options to simplify and optimize global 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 data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of an image they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide organizations have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't need to be included right and what does
it require 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 timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a 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 absolutely essential and technology is allowing us to type of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work better together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation 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 process it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of important to add to sort of the level of intricacy there's more and more advantages being organ or being provided by companies throughout the world so once again you're simply seeking to include a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real difficulties or genuine tough type of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would absolutely say that the bigger a company 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 actually handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more timely they make them less effective and they do not make them what they require 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 needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense point of view from an impact perspective on employees it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging effect on people's well-being and many other elements if individuals aren't paid uh I've constantly been surprised entering this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just notice when things fail. However, when things go right, it's seen as just a routine job. This is how it's perceived externally also. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment option is a great initial action towards offering an extensive payroll service for staff members worldwide. Standardization, worldwide procedures, and decreasing the number of tools, platforms, and checking account needed for international payroll are crucial factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we know how how crucial 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 involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying 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 require days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so carrying on look why do companies pick to main separate bank accounts there are companies out there doing precisely this for specific countries and I've operated in a business or many businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and anyone that's managing that procedure 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 many factors one is it's the standard I believe individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a process that needs looking at it requires altering however eventually people are really stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having keeping multiple checking account but there's a huge amount of intricacy chooses establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is substantial but I think the honest response is change um individuals have not had the ability to change or have not had always 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 understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century or so there is a lot to keep track of and this method does present numerous difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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