Find out more about Papaya Global Payroll Deductions ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app enhances my payroll process, conserving me a considerable quantity of time every month. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and professionals.
Worker Website
Workers have access to a Worker Portal 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 assists companies use competitive advantages packages to worldwide workers no matter the variety of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every nation, create local accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment expenses distributed per area, overall employment expenses per cycle and far more.
Internationally, I have actually shown leadership and tactical know-how in assisting massive populations of over 100,000 workers across 170 nations. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role involves managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually sort of had a variety of various functions on the provider side and also on the vendor side from a payroll point of view so really looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone 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 sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really bleak and I wish I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll likewise review a wrap-up and that ought to leave his time at the really extremely 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 Global workforces end up being a growing number of common and handling them ends up being more and more complex Worldwide organizations are aiming to discover Solutions and new methods to improve processes particularly from a payroll and cross-border payment standpoint numerous organizations preserve separate bank account just for payroll while some have numerous accounts in different countries does it make good sense for business to keep different savings account often in various nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business streamline the episode complex processes of
Making sure accurate, effective, and prompt payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a difficult task into a tactical property.
Handling payroll globally is a complicated task due to different policies, compliance requirements, information security concerns, and banking guidelines. The sheer variety of employees and services contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, data silos, and a lack of integration, causing inconsistencies and ineffectiveness. Regardless of living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in global payroll the less of an image they see a lack of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide services have actually revealed 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 information data entry errors poorly communicated hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the required multiple 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 challenges business face when they're paying to workers or otherwise that's an excellent concern I always toss this back and say what is it what doesn't require to be included ideal and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 complexity anywhere you look right ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble extremely payments no if but some infants 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 essential and technology is permitting us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to type of the level of intricacy there's more and more advantages being organ or being used by companies throughout the world so again you're simply seeking to include increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine difficult type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would certainly state that the bigger a business 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 details into the next function as it were that's in fact managing the payment side of things however you know 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 need to create extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from a cost perspective from an effect point of view on employees it is absolutely critical 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 greatest detrimental impact on individuals's wellness and lots of other aspects if individuals aren't paid uh I've constantly been astonished coming into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is a great first step um supplying an end-to-end payroll option for your employees internationally once again I think is another big um procedure once again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely crucial to success success of businesses and minimizing 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 terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 simple as possible for everyone that's involved in those procedures and likewise so envision sorry I'm simply I was just gon na say think of 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 speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job attempting to clean up 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 need days of the week to attempt to look through them and really see what was going on and kind of try to get back to everybody so carrying on look why do companies select to primary different savings account there are organizations out there doing precisely this for particular nations and I have actually worked in a service or many companies doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for any person where we don't need to and anybody 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 believe numerous factors one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have actually embraced and continue to do over years and years gone past to add 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 however eventually people are very stuck to what they're familiar
with ideal um change is a hard thing we all don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining multiple checking account but there's a huge quantity of intricacy chooses setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is huge however I believe the honest response is modification um individuals have not been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've 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 practically be figured out to be the next Century or two there is a lot to keep track of and this technique does posture several difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
Papaya Global Art