Find out more about Papaya Global Employer Payroll Calculator ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app streamlines my payroll procedure, conserving me a significant amount of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Worker Website provides workers with the ability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to international staff members despite the variety of workers in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits providers in every nation, create local accounts and have a minimum variety of employees.
The HR abilities offered by International HR incorporate various functions such as monitoring trip time, ensuring compliance, helping with the process of welcoming new workers and bidding farewell to departing ones, providing a protected online platform for keeping workers' files, and providing assistance for work permit procedures in case your staff members need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total work expenses distributed per location, total employment expenses per cycle and far more.
Internationally, I have actually shown leadership and strategic expertise in guiding massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My role involves managing and developing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for many influential companies worldwide we provide payroll payments and labor force management to all staff member enters over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you are in the world it's charming to satisfy you and thank you very much for your time as Ian stated 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 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've sort of had a range of various functions on the service provider side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody comes 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 drizzling here it's extremely extremely dreary and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies keep separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise supply 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 services running internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and find how enhancing global payroll payments can change them from a difficult task into a tactical asset.
Handling payroll internationally is a difficult task due to various regulations, compliance requirements, data security concerns, and banking rules. The large variety of staff members and organizations contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual processes, information silos, and an absence of combination, causing disparities and ineffectiveness. In spite of living in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar aims to provide insights and services to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a service invests in international payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of global businesses have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is shipped to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're paying to employees or otherwise that's a good question I always throw this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is absolutely crucial but all over 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 sort 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 allowing us to type of move forward with that it also also to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely essential that payroll and financing groups work closer together than ever um I'm constantly impressed when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split 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 eventually 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 third parties so with the
world we reside in and well-being being more and more essential to add to sort of the level of intricacy there's a growing number of benefits being organ or being provided by organizations across the world so once again you're simply looking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine difficult sort of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a number of years I would absolutely say that the bigger a company 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 groups feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to create extra handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need 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 hard as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from a cost point of view from an effect perspective on workers it is definitely crucial 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 have to be done right it has the most significant destructive impact on individuals's well-being and many other elements if individuals aren't paid uh I have actually constantly been amazed entering this Market type of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. Therefore, it is vital to ensure that tasks like Wi-Fi Global and other crucial matters are done correctly. Using the first Global Payments very first payroll payment service is an excellent preliminary action towards offering a comprehensive payroll service for staff members worldwide. Standardization, worldwide processes, and minimizing the number of tools, platforms, and bank accounts essential for worldwide payroll are essential consider achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Eventually, we do not do it for the gratitude.
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 everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely 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 really see what was going on and kind of shot to return to everybody so moving on look why do companies select to primary different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in a service or many services doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not producing additional work for anybody where we don't need to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe people have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires altering however ultimately individuals are really stuck to what they're familiar
with right um change is a challenging thing we all don't like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping several bank accounts however there's a huge quantity of complexity goes with establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is huge however I believe the sincere response is change um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century approximately there is a lot to keep track of and this method does present several challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you are worthy of a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global