Find out more about Papaya Global Free Payroll ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and dependable technique of making payments to our 10,000 employees worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a significant amount of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
Employee Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits plans to international workers despite the number of staff members in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every nation, produce regional accounts and have a minimum number of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs dispersed per location, total employment expenses per cycle and a lot more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business customers and services in addition to acting as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a pleasure to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the service provider side and likewise on the supplier side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very very gloomy and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they include further complexity the international Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's typically a frustrating number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or really extremely standard there's no real consistency framework we're living in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of global services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they count on the necessary several 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 difficulties business face when they're paying to employees or otherwise that's a great question I always toss this back and say what is it what does not need to be consisted of right and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities 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 client's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely crucial but 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 between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to kind of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession 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 typically 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to add to sort of the level of complexity there's increasingly more advantages being organ or being offered by services across the world so once again you're just wanting to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or genuine tough sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a couple of years I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info 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 does not always need to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it needs 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 perspective on employees it is absolutely important that it's done properly and on time so what we imply 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 detrimental impact on individuals's wellness and numerous other factors if individuals aren't paid uh I've always been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally also. Therefore, it is essential to make sure that tasks like Wi-Fi Global and other vital matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment service is a terrific preliminary action towards providing a comprehensive payroll service for staff members worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and checking account required for international payroll are crucial consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway we know how how crucial 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 processes and likewise so imagine sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job trying to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and kind of shot to return to everyone so proceeding look why do business choose to primary different savings account there are companies out there doing precisely this for particular nations and I have actually operated in an organization or numerous companies doing exactly that I can state it does not always feel effective and it does produce 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 anybody that's handling 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 numerous factors one is it's the requirement I believe people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a procedure that requires looking at it requires altering but ultimately people are really stuck to what they're familiar
with ideal um change is a challenging thing all of us don't like modification um so I think 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 obviously the advantages of having preserving several bank accounts however there's a substantial quantity of intricacy chooses setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is huge however I believe the truthful response is modification um individuals have not had the ability to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change but we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to track and this method does posture numerous difficulties um so Johnny could you inform us about those challenges yeah obviously 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 jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Art