Find out more about Papaya Global Payroll Contact Us ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Employee Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to global workers despite the variety of employees in the company. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, produce regional accounts and have a minimum variety of staff members.
The HR abilities supplied by Worldwide HR include various functions such as keeping track of vacation time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding farewell to leaving ones, using a safe online platform for saving workers' documents, and offering support for work permit treatments in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment costs dispersed per location, overall employment costs per cycle and much more.
Globally, I have actually shown leadership and tactical competence in directing massive populations of over 100,000 workers across 170 countries. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most influential companies on the planet we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great night depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a range of various functions on the company side and also on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort 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 kind of like see where everybody originates from and I truly 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 dreary and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why business maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise go over a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and managing them ends up being a growing number of complex International companies are looking to find Solutions and new ways to enhance processes particularly from a payroll and cross-border payment standpoint numerous companies preserve separate checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep different checking account often in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping international companies enhance the episode complex procedures of
Ensuring precise, efficient, and prompt payroll payments is a complex difficulty for companies operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and discover how enhancing global payroll payments can transform them from a troublesome job into a strategic property.
Handling payroll worldwide is a complicated task due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer number of workers and companies adds to the intricacy, with an approximated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and inadequacies. Despite residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and solutions to streamline and optimize global payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a business spends on international payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses 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 due to time reporting bad HCM data data entry errors badly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is shipped to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the required multiple procedures 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 challenges business face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be consisted of best and what does
it need to be considered there's varying Bank details 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look best ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble incredibly 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 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 permitting us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing groups work better together than ever um I'm always amazed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to type of the level of complexity there's a growing number of advantages being organ or being provided by businesses across the world so again you're simply aiming to include a growing number of 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 certain however have you got any experience in kind of real challenges or genuine tough kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create extra 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 era of tech and an age that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any organization has from an expense perspective from an impact point of view on staff members 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 biggest destructive result on individuals's well-being and numerous other factors if individuals aren't paid uh I've always been impressed entering into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a fantastic first step um offering an end-to-end payroll solution for your workers internationally again I believe is another substantial um procedure again aligning and ensuring you have standardization International processes all of those things are definitely essential to success success of companies and reducing the number of tools platforms and checking account they need for their Worldwide payroll too could not 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 countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't think 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 involved in those procedures and also so think of sorry I'm simply I was just gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions picture 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 certainly be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and type of shot to return to everybody so carrying on appearance why do companies choose to primary separate checking account there are businesses out there doing precisely this for particular countries and I've worked in a business or many services doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not purposely doing that we're not developing extra work for any person where we do not need 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 quantity that we are I think numerous reasons one is it's the requirement I think individuals have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however 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 people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually people are very stuck with what they're familiar
with best um change is a tough thing all of us don't like change um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having maintaining numerous bank accounts however there's a huge amount of complexity chooses establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is huge however I believe the truthful response is modification um individuals have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or two there is a lot to monitor and this approach does present a number of obstacles um so Johnny might you tell us about those challenges yeah obviously so there's a range 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 more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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