Find out more about Papaya Global Payroll Contrator ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to international employees no matter the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the need to source regional benefits service providers in every nation, produce regional accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment costs dispersed per area, total work costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic proficiency in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role involves managing and establishing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for a lot of prominent business in the world we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great night depending on where you remain in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a range of various functions on the company side and likewise on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 everybody originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely gloomy and I want I was elsewhere at this moment in time fine 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 handling International payroll why business maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll also go over a recap and that must leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of common and managing them becomes increasingly more intricate Worldwide companies are looking to find Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment standpoint lots of organizations maintain separate bank account just for payroll while some have several accounts in various nations does it make good sense for business to keep different checking account sometimes in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
Making sure precise, efficient, and prompt payroll payments is a complex challenge for services operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, find out how business forecast payroll costs to optimize working capital, and discover how streamlining worldwide payroll payments can transform them from a difficult job into a strategic property.
Managing payroll globally is an overwhelming job due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large variety of employees and services adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems frequently result in manual processes, data silos, and a lack of integration, leading to inconsistencies and ineffectiveness. Despite residing in a period of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar objectives to offer insights and options to streamline and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in global payroll the less of an image they see an absence of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of global 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 mistakes are because of time reporting bad HCM information information entry mistakes improperly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they depend 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 needs to be factored into the challenges organization face when they're making payments to employees or otherwise that's a good question I always throw this back and say what is it what doesn't need to be included best and what does
it need to be thought about 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 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 consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is definitely important however all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 absolutely essential and technology is allowing us to kind of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work better together than ever um I'm always astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more essential to contribute to type of the level of intricacy there's a growing number of benefits being organ or being used by organizations across the world so once again you're simply seeking to add a growing number of payments to this currently 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 real challenges or real tough sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the bigger a business 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 groups feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any service has from a cost viewpoint from an effect perspective on staff members it is absolutely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the most significant detrimental result on individuals's wellness and lots of other factors if people aren't paid uh I have actually always been astonished entering this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only discover when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. Therefore, it is important to make sure that tasks like Wi-Fi International and other important matters are done properly. Using the first Global Payments very first payroll payment solution is a terrific initial action towards supplying a thorough payroll solution for workers worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and checking account required for worldwide payroll are key factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyhow we know how how crucial 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 procedures and also so picture sorry I'm simply I was simply gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating task attempting to clean 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 try to look through them and in fact see what was going on and kind of try to return to everyone so carrying on appearance why do business choose to main different checking account there are businesses out there doing precisely this for specific countries and I have actually operated in an organization or numerous businesses doing exactly that I can say it does not constantly feel effective and it does produce more work I know we're not purposely doing that we're not producing additional work for anyone where we do not need to and any person 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 requirement I believe people have got so used to we need 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 simply been the standard and the norm the people have 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 many other methods um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it needs altering however eventually individuals are very stuck with what they're familiar
with best um change is a tough thing all of us don't like modification um so I believe it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving numerous bank accounts however there's a huge quantity of intricacy goes with setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is huge but I believe the honest answer is modification um people haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what could almost be identified to be the next Century approximately there is a lot to monitor and this technique does position a number of challenges um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you deserve a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global