Find out more about Papaya Global Pause Payroll For A Few Month ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and trustworthy technique of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Employee Portal offers staff members with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in various languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to worldwide workers regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the need to source local benefits service providers in every country, produce regional accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work costs dispersed per area, overall work expenses per cycle and much more.
Globally, I have actually shown leadership and tactical expertise in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll methods, as discussed by Mark. My role includes managing and developing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or six years where I've type of had a range of different functions on the provider side and likewise on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another couple 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 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 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 gloomy 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 challenge years of managing Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies anticipate payroll costs to optimize working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a tactical asset.
Managing payroll globally is an overwhelming task due to different policies, compliance requirements, data security issues, and banking rules. The large number of staff members and services adds to the complexity, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom remain in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, leading to inconsistencies and inadequacies. Regardless of residing in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently using pen and paper. This webinar goals to supply insights and options to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in worldwide payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international businesses have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes poorly communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the data is shipped to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to staff members or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be included best 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is enabling us to type of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always impressed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as a market 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to add to kind of the level of complexity there's more and more advantages being organ or being offered by services across the world so once again you're simply seeking to add a growing number of payments to this already 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 real obstacles or real tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of decades I would definitely state that the bigger a service 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 information into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to create additional handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from an expense point of view from an effect point of view on workers it is definitely important that it's done properly and on time so what we mean 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 destructive effect on individuals's well-being and numerous other factors if people aren't paid uh I have actually always been astonished entering into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this sort of webinar has been told 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 staff members or not um but ultimately payroll is such an essential cycle all of us become aware of 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 believe 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 things is absolutely vital that all of this stuff is done properly so leveraging the first International Payments very first payroll payment solution is a fantastic initial step um supplying an end-to-end payroll option for your staff members globally again I believe is another substantial um procedure again aligning and ensuring you have standardization Global processes all of those things are definitely key to success success of businesses and decreasing the number of tools platforms and savings account they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we know how how important a role it is which'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 also so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task trying to clean 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 require days of the week to attempt to browse them and really see what was going on and kind of try to return to everybody so proceeding look why do companies select to main different checking account there are businesses out there doing precisely this for specific nations and I've operated in an organization or numerous services doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anyone where we don't need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the requirement I believe people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs altering however eventually individuals are extremely stuck with what they recognize
with ideal um modification is a difficult thing all of us do not like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping several checking account however there's a big amount of intricacy goes with establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the complexity is big however I think the truthful answer is change um people have not been able to alter or haven't had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does pose a number of difficulties um so Johnny could you inform us about those difficulties 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 manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
Sure Payroll Vs Papaya Global