Find out more about Papaya Global Services ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a secure and reliable approach of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, conserving me a substantial quantity of time every month. With its user-friendly interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Worker Website offers staff members with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to worldwide staff members despite the number of employees in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every country, produce local accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR incorporate different functions such as keeping an eye on holiday time, ensuring compliance, assisting in the process of welcoming new employees and bidding goodbye to leaving ones, offering a secure online platform for storing employees' documents, and providing support for work permit treatments in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment expenses distributed per place, total work expenses per cycle and much more.
environments around the world I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise clients and options as well as serving as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The complexities and obstacles of this field have constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually kind of had a range of different functions on the company side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's very extremely uninspiring and I want I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and prompt payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, find out how business forecast payroll expenses to optimize working capital, and find how simplifying international payroll payments can transform them from a burdensome task into a strategic property.
Handling payroll internationally is a difficult job due to various regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual procedures, information silos, and an absence of integration, leading to disparities and inefficiencies. Regardless of residing in an age of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and solutions to streamline and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and state what is it what does not need to be included ideal 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 timespan there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is definitely vital however all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to kind of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation 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 process it's the point of information 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 places a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Companies are continuously introducing brand-new benefits and payment options, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my opinion, this doesn't have to hold true. In today's highly sophisticated era, there's no justification for keeping troublesome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even minor delays can adversely affect workers' wellness and have significant consequences. Therefore, it's vital to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 stuff is done properly so leveraging the very first Global Payments very first payroll payment option is a fantastic initial step um providing an end-to-end payroll service for your workers internationally once again I think is another huge um process again aligning and guaranteeing you have standardization Global procedures all of those things are definitely key to success success of businesses and decreasing the variety of tools platforms and checking account they require for their Global 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 have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand how how essential a function 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 everyone that's involved in those processes and also so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and kind of shot to return to everybody so carrying on appearance why do companies select to main different savings account there are organizations out there doing exactly this for particular countries and I have actually operated in a service or lots of companies doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't need to and anyone 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 quantity that we are I believe many factors one is it's the requirement I believe individuals have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute 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 believe there's a variety I believe this is a procedure that requires looking at it needs changing but ultimately people are very stuck to what they recognize
with best um change is a tough thing all of us don't like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining multiple savings account however there's a huge quantity of intricacy chooses setting up a savings account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I think the truthful answer is modification um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding 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 taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does present several challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you should have a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art