Find out more about Go Papaya Global Payroll ... 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 actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reputable approach of making payments to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll process, saving me a substantial amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to global staff members no matter the number of staff members in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every nation, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall employment costs distributed per place, overall work costs per cycle and far more.
environments across the globe I offered leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business handling and building external relationships supporting Business customers and options in addition to serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of prominent business worldwide we offer payroll payments and workforce management to all employee key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to meet 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 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of various functions on the company side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort 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 type 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 sunshine is it it's not no it's it's raining here it's really extremely dreary and I want I was elsewhere at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an option to traditional savings account for managing payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. 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 offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for organizations running worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to optimize working capital, and discover how improving international payroll payments can change them from a burdensome job into a strategic property.
Managing payroll internationally is a daunting task due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently lead to manual processes, information silos, and an absence of combination, leading to inconsistencies and inadequacies. In spite of living in a period of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of a picture they see an absence of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide services have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations as well as lack management and system configurations and after that when you round everything off and the data is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're paying to staff members or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be included ideal and what does
it need 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 abilities 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 any place you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but 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 acknowledgment that payroll payments are definitely fundamental and technology is enabling us to sort of move forward with that it also also to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market 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 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 wellness being a growing number of crucial to add to kind of the level of intricacy there's increasingly more advantages being organ or being used by services throughout the world so again you're simply looking to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine difficult type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding info into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run in they just make them more timely they make them less efficient 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 why we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single greatest liability that any business has from a cost perspective from an effect perspective on workers it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on people's wellness and lots of other elements if individuals aren't paid uh I've always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just see when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. Therefore, it is necessary to make sure that tasks like Wi-Fi International and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment service is a great preliminary action towards providing a detailed payroll solution for staff members worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account necessary for global payroll are crucial factors in accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we understand how how crucial 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 everyone that's involved in those procedures and also so envision sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and type of shot to get back to everybody so moving on appearance why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular nations and I've operated in a business or many companies doing exactly that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the requirement I believe individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a procedure that requires looking at it needs changing however eventually people are really stuck with what they're familiar
with right um modification is a hard thing all of us don't like modification um so I think it's simply sort 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 clearly the benefits of having maintaining multiple savings account however there's a substantial amount of complexity goes with setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial however I believe the sincere response is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides 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 but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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