Find out more about Papaya Global Payroll Loan ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and trusted method of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll process, conserving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Employee Website supplies staff members with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists business offer competitive advantages plans to worldwide workers regardless of the number of employees in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the need to source local advantages service providers in every nation, produce local accounts and have a minimum number of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment costs dispersed per place, overall work expenses per cycle and much more.
environments around the world I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and solutions along with acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most influential companies on the planet we offer payroll payments and workforce management to all employee key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you remain in the world it's lovely to fulfill 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 have actually 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 amazed by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of various functions on the provider side and also on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everybody another couple 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 just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really 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 really really dreary and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits 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.
Guaranteeing precise, effective, and timely payroll payments is a complex challenge for companies running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to optimize working capital, and discover how enhancing global payroll payments can change them from a challenging task into a strategic possession.
Handling payroll worldwide is a daunting job due to different policies, compliance requirements, data security issues, and banking guidelines. The sheer variety of staff members and companies contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems typically lead to manual procedures, data silos, and a lack of integration, resulting in disparities and ineffectiveness. Despite residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to offer insights and solutions to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more a company spends on worldwide payroll the less of an image they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they depend on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're making payments to employees or otherwise that's a good concern I always throw this back and state what is it what does not require to be consisted of right and what does
it require to be thought about there's differing Bank information 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 client's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble very payments no if but some babies 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 absolutely essential and innovation is permitting us to kind of progress with that it likewise too to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance groups work closer together than ever um I'm always astonished when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work 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 often 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 people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to add to type of the level of complexity there's more and more advantages being organ or being offered by organizations across the world so once again you're simply wanting to include more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine tough type of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand 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 create additional handoffs in the processes that we run 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 a period that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost perspective from an effect viewpoint on staff members it is absolutely critical that it's done correctly 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 damaging effect on individuals's wellness and many other factors if individuals aren't paid uh I've always been amazed coming into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's simply 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 International Payments first payroll payment option is a fantastic first step um providing an end-to-end payroll option for your staff members worldwide again I believe is another big um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and decreasing the number of tools platforms and savings account they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial a role 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 picture sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and kind of shot to get back to everybody so moving on appearance why do business choose to primary different savings account there are companies out there doing exactly this for particular nations and I've operated in a business or many organizations doing exactly that I can state it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not developing extra work for any person where we don't need to and anyone that's dealing with 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 think lots of factors one is it's the requirement I think individuals have actually got so used to we need a new bank account we open an entity and rightly so you require it for payroll functions 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 people have looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it needs changing but ultimately individuals are extremely stuck with what they're familiar
with best um change is a hard thing we all don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining numerous checking account however there's a substantial quantity of intricacy goes with setting up a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge but I believe the truthful response is modification um people have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep track of and this approach does posture several difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I recently made a change to our Business 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 capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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