Find out more about Papaya Global Payroll Outsourcing ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, conserving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
The Employee Website offers employees with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages packages to international employees despite the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every nation, create local accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR encompass various functions such as keeping track of getaway time, guaranteeing compliance, assisting in the procedure of inviting brand-new workers and bidding farewell to leaving ones, offering a safe online platform for keeping workers' files, and offering assistance for work permit treatments in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work expenses distributed per location, total employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout business handling and structure external relationships supporting Business clients and services along with functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've type of had a range of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains 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 very really uninspiring and I want I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and timely payroll payments is a complex challenge for companies running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll expenses to optimize working capital, and discover how improving worldwide payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll globally is an overwhelming job due to numerous policies, compliance requirements, data security concerns, and banking guidelines. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of combination, resulting in disparities and ineffectiveness. Regardless of residing in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and options to simplify and optimize international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of international businesses have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars when 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 needed numerous 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 obstacles business face when they're paying to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be included ideal and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to sort of move forward with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to contribute to kind of the level of complexity there's a growing number of advantages being organ or being offered by businesses throughout the world so once again you're simply aiming to add more and more payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine difficulties or real tough kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce 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 age of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an impact point of view on workers it is absolutely 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 most significant destructive result on individuals's well-being and many other factors if individuals aren't paid uh I have actually constantly been impressed entering this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think 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 definitely essential that all of this things is done correctly so leveraging the first Global Payments first payroll payment solution is a great primary step um providing an end-to-end payroll solution for your staff members internationally again I believe is another huge um procedure once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of organizations and minimizing 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 terms of of the thank yous for getting payroll done I've never had a hundred thousand of 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 grievances where things haven't gone rather where they're indicated to be um I don't think any of us are really 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 everybody that's associated with those procedures and also so think of sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and kind of shot to get back to everybody so proceeding appearance why do companies select to main separate checking account there are services out there doing exactly this for particular countries and I have actually operated in a service or numerous organizations doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not intentionally doing that we're not creating extra work for anybody where we do not have to and anyone that's managing 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 quantity that we are I believe many factors one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires altering however eventually people are really stuck to what they're familiar
with best um modification is a challenging thing we all do not like modification um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving several checking account however there's a big quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge but I believe the honest response is modification um people have not had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep an eye on and this technique does position numerous difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business 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 actually gained another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Art