Find out more about Papaya Global Payroll History ... 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 acquired a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and reputable method of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to global employees regardless of the number of workers in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source local advantages suppliers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses distributed per area, overall employment costs per cycle and much more.
Globally, I have actually shown management and strategic expertise in directing massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon excellent evening depending on where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various roles on the provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very bleak and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively 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 business accurately forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the sheer numbers they add more complexity the global Labor force is presently 3 and a half billion individuals 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 organizations and growing all doing their own thing around the globe in the traditional payroll design there's often an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or very very standard there's no genuine consistency framework we're residing 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 and that simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in global payroll the less of a photo they see a lack of exposure also extends to payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of international services have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is delivered to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they depend on the required 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 service face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what doesn't need to be consisted of right and what does
it require to be considered there's differing Bank details 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 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 best ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble very payments no if but some infants 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 recognition that payroll payments are absolutely basic and innovation is allowing us to type of move forward with that it also too to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work better together than ever um I'm always surprised 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 operate in the payroll occupation would they divide the payroll payment from calculation 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 process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on wellness and the payment landscape is becoming progressively complex. Businesses are constantly presenting brand-new advantages and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's technologically innovative age, there's no validation for keeping troublesome treatments. Payroll, the business's most significant cost, should be processed correctly and on time. Even small hold-ups can negatively affect workers' well-being and have far-reaching consequences. Therefore, it's important to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure 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 however eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe 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 vital that all of this things is done correctly so leveraging the very first International Payments very first payroll payment service is a great initial step um supplying an end-to-end payroll option for your staff members internationally again I think is another substantial um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of companies and reducing the number of tools platforms and savings account they require for their Worldwide 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 countless them within a payroll cycle do not expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite 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 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 associated with those procedures and also so envision sorry I'm simply I was simply gon na say imagine 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 discussing numerous thousands potentially Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task trying to clean up 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 browse them and really see what was going on and type of try to get back to everyone so moving on look why do companies select to primary separate checking account there are services out there doing precisely this for particular countries and I have actually worked in an organization or lots of companies doing exactly that I can state it does not always feel effective and it does develop more work I know we're not purposely doing that we're not producing additional work for any person where we do not have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I believe people have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing however ultimately individuals are really stuck with what they recognize
with ideal um modification is a tough thing we all do not like change um so I believe it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping several bank accounts but there's a big amount of complexity chooses establishing a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for private individuals so the intricacy is substantial but I believe the sincere answer is modification um people haven't had the ability to change or have not had always the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this method does pose several challenges um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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