Find out more about Papaya Global Homebase Payroll ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and reputable method of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll process, saving me a significant quantity of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Worker Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global employees despite the variety of employees in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source regional benefits companies in every country, create local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total work costs dispersed per location, overall work costs per cycle and far more.
environments around the world I offered management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and solutions as well as acting as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to meet 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 solutions for the past 7 years. The complexities and challenges of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've sort of had a variety of various functions on the provider side and likewise on the supplier side from a payroll point of view so truly 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 couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely extremely bleak and I want I was elsewhere at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll likewise discuss a recap and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of common and managing them becomes increasingly more complicated Global organizations are wanting to find Solutions and brand-new methods to improve procedures specifically from a payroll and cross-border payment standpoint numerous companies keep different bank account just for payroll while some have several accounts in different countries does it make sense for companies to maintain separate bank accounts in some cases in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business improve the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex obstacle for organizations operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll costs to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a challenging task into a tactical asset.
Handling payroll worldwide is a challenging job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large variety of workers and services adds to the intricacy, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Standard payroll systems frequently lead to manual processes, data silos, and a lack of combination, causing inconsistencies and inefficiencies. Regardless of living in an age of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and options to simplify 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 companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more a company invests in global payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the essential several procedures systems and partners it is simply 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 employees or otherwise that's a great question I constantly throw this back and state what is it what does not need to be included right and what does
it require to be considered there's differing 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 have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble incredibly 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 absolutely fundamental and innovation is permitting us to sort of move forward with that it likewise also to add to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely essential that payroll and finance teams work better together than ever um I'm constantly amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so again you're just wanting to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine tough sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of decades I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding details into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes 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 era that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost point of view from an effect perspective on employees it is definitely critical 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 greatest harmful result on people's well-being and many other aspects if people aren't paid uh I've constantly been impressed entering this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise 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 International Payments very first payroll payment service is a terrific primary step um offering an end-to-end payroll service for your employees globally once again I believe is another huge um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of businesses and decreasing the variety of tools platforms and bank accounts they need for their International payroll too could not 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 thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how important 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 involved in those procedures and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and type of try to return to everybody so carrying on appearance why do companies select to main different savings account there are services out there doing precisely this for particular countries and I've worked in an organization or many businesses doing precisely that I can say it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anyone where we do not need to and anybody that's handling 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 believe lots of reasons one is it's the standard I believe people have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I believe this is a process that requires taking a look at it needs altering but eventually individuals are really stuck with what they're familiar
with best um modification is a hard thing we all don't like change um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the benefits of having preserving numerous bank accounts but there's a huge amount of intricacy goes with setting up a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the intricacy is big but I think the sincere answer is modification um people have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to track and this approach does posture several challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you changed our Enterprise 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 Worldwide staff members you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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