Find out more about Papaya Global Payroll App For Iphone ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and reliable method of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll procedure, saving me a substantial 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 professionals.
Employee Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers no matter the variety of workers in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source local benefits providers in every country, create regional accounts and have a minimum number of workers.
The HR abilities offered by Worldwide HR include different functions such as keeping an eye on getaway time, ensuring compliance, facilitating the process of welcoming new employees and bidding farewell to departing ones, offering a safe online platform for storing employees' files, and providing support for work allow procedures in case your employees require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment costs dispersed per place, overall employment expenses per cycle and much more.
Globally, I have demonstrated leadership and strategic proficiency in directing massive populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function involves handling and developing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for most prominent companies worldwide we supply payroll payments and workforce management to all staff member key ins 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 present yourself of course thank you good morning excellent afternoon good night depending upon where you remain in the world it's lovely to meet 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 ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a range of various roles on the provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two 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 truly 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 really extremely gloomy and I wish 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 obstacle years of managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical property 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 payroll payments properly efficiently safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the large numbers they include additional complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll model there's typically an overwhelming number of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or very extremely fundamental there's no genuine consistency framework we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in global payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of worldwide organizations have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they depend on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to employees or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of ideal and what does
it need to be considered 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 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 client's own in-country account so there's complexity any place you look right eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to sort of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work better together than ever um I'm constantly surprised when people say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry 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 data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by organizations throughout the world so once again you're simply seeking to add increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real challenges or genuine challenging sort of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to develop extra handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from an expense point of view from an impact point of view on workers it is absolutely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive effect on people's well-being and numerous other aspects if individuals aren't paid uh I've always been amazed coming into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise 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 absolutely important that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a great primary step um providing an end-to-end payroll option for your employees worldwide once again I think is another huge um procedure again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of companies and reducing the number of tools platforms and bank accounts they need 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how important 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 associated with those processes and likewise so picture sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many 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 picture 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 actually see what was going on and sort of shot to get back to everyone so carrying on appearance why do companies select to primary different savings account there are businesses out there doing exactly this for particular countries and I have actually operated in a service or many businesses doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't need to and anybody that's managing 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 believe many reasons one is it's the requirement I believe individuals have got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that needs looking at it needs altering but eventually individuals are extremely stuck with what they're familiar
with right um change is a challenging thing all of us don't like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving numerous checking account but there's a huge quantity of complexity goes with setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is huge however I think the honest response is modification um people haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does posture a number of difficulties um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Business 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 workers you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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