Find out more about Papaya Global How To Pause Automated Payroll ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a secure and dependable method of paying to our 10,000 workers worldwide.}
The advanced worldwide payroll management app improves my payroll process, saving me a substantial quantity of time each month. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Employee Portal provides workers with the capability to access and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to international workers no matter the number of employees in the business. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits companies in every nation, produce regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, total work expenses distributed per area, total employment expenses per cycle and a lot more.
Worldwide, I have shown leadership and tactical know-how in directing large-scale populations of over 100,000 staff members across 170 nations. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes handling and developing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and workforce management services to workers 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 a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different functions on the service provider side and also on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well among the 30 seconds approximately to join all of us 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 simply to hear where everyone is um it's nice to to kind 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 sunlight is it it's not no it's it's drizzling here it's really extremely gloomy and I wish I was somewhere else at this moment in time okay 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 managing Worldwide payroll why companies keep separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex obstacle for businesses operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, find out how business forecast payroll costs to optimize working capital, and discover how improving global payroll payments can change them from a challenging task into a tactical asset.
Managing payroll globally is a challenging task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and services adds to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently lead to manual procedures, information silos, and a lack of integration, leading to disparities and inefficiencies. Despite living in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in global payroll the less of an image they see a lack of visibility also encompasses payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide companies have actually expressed 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 due to time reporting bad HCM data information entry errors poorly communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is delivered to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the needed 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 business face when they're paying to staff members 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 require to be thought about there's varying 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 have to pay from the client's own in-country account so there's intricacy anywhere you look best eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 innovation is enabling us to type of move on with that it also also to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of complexity there's more and more benefits being organ or being provided by companies throughout the world so again you're just looking to include 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 but have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age 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 tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any service has from a cost viewpoint from an impact point of view on workers it is absolutely crucial that it's done correctly and on time so what we imply 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 harmful effect on individuals's well-being and many other elements if individuals aren't paid uh I've always been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. Therefore, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the very first International Payments first payroll payment solution is a fantastic initial action towards providing a comprehensive payroll solution for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and savings account necessary for worldwide payroll are essential consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as prepared. Eventually, we don't do it for the appreciation.
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 easy as possible for everyone that's involved in those procedures and likewise so picture sorry I'm simply I was simply gon na state picture 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 discussing hundreds of thousands potentially Millions picture getting that lots of thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everyone so carrying on appearance why do companies pick to main different savings account there are services out there doing precisely this for particular countries and I've operated in an organization or numerous businesses doing precisely that I can say it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for any person where we do not have to and any person that's managing 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 numerous reasons one is it's the standard I think people have got so used to we require a brand-new bank account we open an entity and rightly so you require 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 requirement and the norm the people have adopted and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other methods 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 altering however ultimately people are extremely stuck to what they're familiar
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping numerous savings account but there's a substantial amount of complexity goes with setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private people so the intricacy is big but I think the honest answer is change um individuals have not had the ability to change or have not had always the understanding to really make that change into alternate Solutions other than 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 benefits and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or two there is a lot to keep track of and this approach does pose several obstacles um so Johnny might you tell us about those obstacles yeah obviously so there's a range 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 Worldwide workers you are worthy of a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global