Find out more about Papaya Global Payroll And Quickbooks ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and reliable method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Staff member Website provides staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business use competitive benefits plans to international workers despite the number of staff members in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities offered by Worldwide HR encompass various functions such as monitoring holiday time, making sure compliance, facilitating the procedure of welcoming brand-new staff members and bidding farewell to departing ones, providing a secure online platform for storing workers' documents, and supplying support for work permit treatments in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work expenses dispersed per place, overall employment costs per cycle and far more.
Internationally, I have demonstrated leadership and strategic proficiency in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I are accountable for managing payroll methods, as discussed by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various roles on the provider side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everyone comes 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 drizzling here it's really extremely gloomy and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly useful for global companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex difficulty for businesses operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll costs to optimize working capital, and discover how improving global payroll payments can transform them from a challenging job into a strategic property.
Managing payroll internationally is a complicated task due to numerous policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and businesses adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems frequently result in manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inefficiencies. Despite residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to supply insights and options 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 just 11 of organizations say they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a picture they see a lack of exposure also extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of international businesses have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors badly communicated hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they count on the necessary several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're paying to workers or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be included right and what does
it require to be thought of there's varying Bank details 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 have to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind 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 fundamental and technology is enabling us to kind of move on with that it likewise as well to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm constantly surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to contribute to sort of the level of complexity there's increasingly more advantages being organ or being used by companies throughout the world so once again you're just seeking to add more and more 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 genuine difficulties or genuine difficult kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need 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 just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from a cost viewpoint from an impact viewpoint on workers it is definitely important 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 need to be done right it has the biggest destructive result on people's wellness and many other elements if individuals aren't paid uh I have actually constantly been surprised entering this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment option is a great first step um offering an end-to-end payroll service for your staff members worldwide again I believe is another big um process once again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely key to success success of services and reducing the variety of tools platforms and bank accounts they require for their International payroll too couldn't 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 anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway we know 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 simple as possible for everybody that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean up all those up for sure oh definitely 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 look through them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies choose to primary different checking account there are services out there doing exactly this for particular nations and I have actually worked in a service or many businesses 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 creating additional work for anybody where we do not have to and anybody that's handling 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 lots of reasons one is it's the standard I think people have actually got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires changing but ultimately people are really stuck with what they recognize
with ideal um change is a tough thing we all do not like modification um so I think it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining several checking account but there's a huge quantity of intricacy chooses setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is big but I think the sincere response is modification um people haven't been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century or so there is a lot to monitor and this approach does pose numerous difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just did you switched 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 International staff members you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global