Find out more about Papaya Global Disappear Payroll 2020 ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This offers us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Worker Website provides staff members with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits plans to worldwide staff members despite the variety of staff members in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages providers in every country, develop regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, overall employment costs dispersed per area, total work costs per cycle and a lot more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Business customers and options as well as serving as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've sort of had a range of various roles on the provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just provide everybody another number of uh well one of 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 already just to hear where everybody is um it's nice to to sort of like see where everybody 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 raining here it's really very bleak and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to enhance working capital, and discover how enhancing international payroll payments can change them from a challenging task into a strategic possession.
Managing payroll worldwide is a complicated task due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large number of workers and companies contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual processes, information silos, and an absence of combination, leading to inconsistencies and inadequacies. Despite living in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar goals to supply insights and options to streamline and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a company invests in international payroll the less of a photo they see an absence of exposure also reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide 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 mistakes are because of time reporting poor HCM data information entry errors poorly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they rely on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent question I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about 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 client's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to kind of move on with that it also also to contribute to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely necessary that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split 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 process it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to contribute to kind of the level of intricacy there's more and more advantages being organ or being offered by organizations throughout the world so once again you're just looking to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real difficulties or real challenging sort of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of years I would certainly state that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single greatest liability that any business has from an expense viewpoint from an impact perspective on staff members it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging impact on people's well-being and many other factors if people aren't paid uh I have actually always been surprised 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 sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise 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 stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um offering an end-to-end payroll service for your staff members globally once again I think is another huge um process again lining up and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of businesses and minimizing the variety of tools platforms and checking account they need 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 countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know 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 simple as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure 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 absolutely be an interesting job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and kind of shot to get back to everyone so proceeding look why do companies pick to main separate checking account there are businesses out there doing exactly this for particular nations and I've worked in a business or many organizations doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't need to and anybody that's managing that process 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 many reasons one is it's the requirement I believe individuals have got so used to we require a brand-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 think it's simply been the standard and the norm 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 lots of other methods um to to kind of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing but ultimately people are extremely stuck to what they recognize
with ideal um modification is a difficult thing we all do not like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining multiple savings account however there's a huge amount of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is substantial however I believe the sincere response is change um individuals have not been able to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've 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 know what might practically be figured out to be the next Century or so there is a lot to track and this technique does pose a number of obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I recently made a modification to our Business 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 actually gained another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
Sure Payroll Vs Papaya Global