Find out more about Papaya Global Payroll Workers Comp ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Worker Portal provides employees with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive benefits plans to global workers regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, produce local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work expenses distributed per place, total employment expenses per cycle and much more.
environments around the world I offered management and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise clients and services as well as serving as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies in the world we supply payroll payments and labor force management to all staff member enters 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 present yourself of course thank you good morning excellent afternoon great night depending upon where you are in the world it's lovely to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated 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 five or 6 years where I've type of had a range of various roles on the provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone originates 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 raining here it's extremely really gloomy and I wish I was somewhere else at this moment in time alright 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 managing Global payroll why business keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll also go over a recap which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more common and handling them becomes a growing number of complicated Worldwide companies are seeking to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment perspective lots of companies maintain separate checking account just for payroll while some have several accounts in different nations does it make sense for business to preserve different bank accounts sometimes in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies improve the episode complex procedures of
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for services operating globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, find out how companies forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can change them from a difficult job into a strategic asset.
Handling payroll internationally is an overwhelming task due to different guidelines, compliance requirements, information security issues, and banking guidelines. The sheer variety of staff members and companies adds to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and a lack of combination, causing disparities and inadequacies. Regardless of residing in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and services to streamline and enhance international payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service invests in worldwide payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of international organizations have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes badly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the typical expense of a global data 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 don't run smoothly if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's varying 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look best eventually building a knowledge base is absolutely critical but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to sort of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split 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 individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to add to kind of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so once again you're simply looking to include more and more payments to this already intricate landscape so if you type 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 real difficulties or genuine difficult sort of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years I would absolutely state that the bigger an organization 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 teams feeding information into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to create extra 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 age that you understand that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an effect viewpoint on staff members it is absolutely important that it's done correctly and on time so what we indicate 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 harmful impact on people's wellness and numerous other elements if people aren't paid uh I've constantly been impressed entering into this Market sort of the last five to 10 years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only discover when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally too. For that reason, it is important to make sure that tasks like Wi-Fi International and other vital matters are done properly. Using the very first International Payments very first payroll payment solution is a great initial action towards offering a thorough payroll solution for workers worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts essential for international payroll are crucial factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyhow 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 easy as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and type of try to get back to everybody so carrying on look why do companies choose to main separate checking account there are companies out there doing precisely this for specific countries and I have actually worked in a service or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for any person where we do not need to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted 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 many other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it needs altering but eventually individuals are extremely stuck with what they're familiar
with ideal um change is a tough thing all of us do not like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping multiple savings account however there's a big amount of complexity goes with setting up a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the intricacy is big but I believe the truthful answer is modification um individuals have not had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect 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 carrying on and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this technique does pose a number of difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
Papaya Global Art