Find out more about Papaya Global Payroll Crossroads Kansas City ... 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 obtained a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and reputable approach of making payments to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll process, saving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Employee Portal supplies employees with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits packages to global staff members no matter the variety of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every country, create local accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs distributed per place, total work expenses per cycle and far more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise clients and services along with serving as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have actually always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually sort of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really 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 really dreary and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most significantly policies compliance information security and banking guidelines then there are the large numbers they include more intricacy the worldwide Workforce is presently 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 around the globe in the conventional payroll model there's frequently an overwhelming number of various systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely extremely basic there's no genuine consistency framework we're residing in an era of tech however payroll has actually 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 every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to accurately track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide organizations have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a great question I constantly toss this back and say what is it what does not require to be consisted of best and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities 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 client's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to sort of progress with that it likewise as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely vital that payroll and financing teams work more detailed together than ever um I'm constantly impressed when people say I've divided 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 split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more crucial to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being provided by businesses across the world so again you're simply wanting to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of real challenges or real challenging sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a company 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 details into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we operate 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 a period that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from an expense point of view from an effect perspective on workers it is definitely crucial 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 effect on people's well-being and many other aspects if individuals aren't paid uh I have actually always been amazed entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great 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 hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think 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 stuff is absolutely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent primary step um offering an end-to-end payroll service for your workers globally again I believe is another substantial um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of organizations and minimizing the variety 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 had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyway we know how how crucial 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 associated with those procedures and also so envision sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that numerous thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of try to return to everyone so carrying on appearance why do business pick to main separate checking account there are services out there doing precisely this for specific countries and I have actually operated in an organization or lots of services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anyone where we don't have to and any person that's dealing with that procedure 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 think numerous reasons one is it's the standard I think people have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires changing however ultimately people are extremely stuck with what they're familiar
with best um change is a difficult thing all of us do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having preserving several checking account however there's a substantial quantity of complexity goes with setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual people so the complexity is big however I think the sincere answer is modification um individuals have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to track and this approach does posture numerous challenges um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
Sure Payroll Vs Papaya Global