Find out more about Papaya Global Payroll Late ... 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 actually gotten a different Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to worldwide staff members no matter the number of staff members in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source regional benefits suppliers in every nation, develop regional accounts and have a minimum number of staff members.
The HR abilities provided by International HR include numerous functions such as keeping an eye on holiday time, guaranteeing compliance, facilitating the procedure of inviting brand-new employees and bidding farewell to departing ones, using a safe and secure online platform for storing employees' files, and providing assistance for work permit procedures in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per location, total work expenses per cycle and a lot more.
Globally, I have actually shown leadership and strategic proficiency in directing large-scale populations of over 100,000 workers across 170 nations. Currently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role includes managing and developing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for many influential business in the world we provide payroll payments and workforce management to all employee types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending upon where you are in the world it's beautiful to meet you and thank you very much 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 particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity 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 kind of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just 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 sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely dreary and I wish I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a recap which ought to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and managing them becomes increasingly more complicated Worldwide organizations are seeking to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment perspective many organizations preserve separate checking account just for payroll while some have several accounts in various countries does it make sense for companies to keep different checking account in some cases in different countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies simplify the episode complex processes of
Making sure accurate, efficient, and timely payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a troublesome task into a strategic asset.
Managing payroll worldwide is a daunting job due to numerous regulations, compliance requirements, information security issues, and banking guidelines. The large variety of workers and businesses contributes to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Regardless of living in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to supply insights and options to simplify 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 services say they have Labor force information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide services have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges service face when they're making payments to employees or otherwise that's a great question I always throw 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 country there's payment amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to sort of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 people any place 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 important to contribute to sort of the level of complexity there's more and more benefits being organ or being provided by companies across the world so again you're simply seeking to add more and more payments to this already complicated landscape so if you sort 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 real tough sort of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the larger 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 groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from a cost viewpoint from an effect point of view on staff members it is definitely vital 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 biggest destructive impact on people's wellness and many other aspects if individuals aren't paid uh I have actually constantly been surprised entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. For that reason, it is necessary to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first International Payments very first payroll payment option is an excellent initial action towards offering a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and savings account necessary for international payroll are key factors in attaining company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of grievances when things don't go as prepared. Ultimately, we do not do it for the appreciation.
anyhow we know how how important 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 easy as possible for everybody that's involved in those processes and also so imagine 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 people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and really see what was going on and sort of shot to get back to everyone so proceeding appearance why do business select to primary different bank accounts there are services out there doing exactly this for particular countries and I have actually operated in a company or numerous organizations doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing extra work for anyone where we don't have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I think individuals have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually 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 lots of other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires changing however ultimately individuals are extremely stuck to what they're familiar
with right um change is a hard thing all of us don't like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping multiple savings account but there's a substantial quantity of intricacy opts for setting up a bank account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is huge but I believe the truthful response is change um people haven't had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be determined to be the next Century approximately there is a lot to track and this method does pose numerous obstacles um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
Papaya Global Art