Find out more about Papaya Global Makes Running Payroll ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a protected and reputable technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Website supplies workers with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to worldwide staff members no matter the variety of staff members in the company. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment costs dispersed per place, total work costs per cycle and far more.
Globally, I have actually shown leadership and tactical expertise in directing large-scale populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My role involves managing and developing external collaborations, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for a lot of prominent companies in the world we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's charming to meet you and thank you quite 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 fascinated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of different functions on the company side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing 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 originates from and I truly 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 raining here it's extremely very bleak and I want 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 looking at the challenge years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets offer a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most significantly policies compliance data security and banking rules then there are the sheer numbers they include more intricacy the worldwide Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really really standard there's no real consistency framework we're living in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more an organization spends on global payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global organizations have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the necessary several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges company face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be consisted of right 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 nation there's payment timespan there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble extremely payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely essential and innovation is allowing us to sort of move on with that it also as well to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and financing teams work better together than ever um I'm constantly amazed when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high value on wellness and the settlement landscape is becoming increasingly intricate. Organizations are constantly introducing new benefits and payment options, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't need to be the case. In today's highly innovative era, there's no validation for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have far-reaching repercussions. For that reason, it's critical to focus on accurate and prompt payments.
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally too. Therefore, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Using the first International Payments first payroll payment option is a fantastic initial step towards supplying a detailed payroll solution for workers worldwide. Standardization, global processes, and reducing the number of tools, platforms, and checking account essential for worldwide payroll are essential factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how essential a role 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 processes and likewise so imagine sorry I'm simply I was simply gon na say imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task trying to clean up all those up for sure oh absolutely 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 in fact see what was going on and sort of try to return to everybody so moving on appearance why do companies choose to primary different savings account there are companies out there doing exactly this for specific countries and I've worked in a company or lots of services doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anyone 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 amount that we are I believe lots of factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs altering however eventually individuals are extremely stuck to what they recognize
with ideal um modification is a challenging thing all of us do not like change um so I believe 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 things um I understand obviously the benefits of having maintaining several bank accounts however there's a substantial quantity of complexity chooses setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is big but I believe the truthful response is change um people haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to track and this method does pose numerous challenges um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
Sure Payroll Vs Papaya Global