Find out more about Papaya Global Payroll Custom Accesss ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and trusted technique of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app enhances my payroll process, conserving me a significant amount of time each month. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
The Worker Portal offers workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to worldwide employees no matter the number of workers in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities supplied by Worldwide HR include numerous functions such as keeping track of vacation time, ensuring compliance, facilitating the procedure of inviting new staff members and bidding goodbye to departing ones, using a protected online platform for keeping workers' documents, and providing support for work allow treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses distributed per location, overall employment expenses per cycle and a lot more.
Worldwide, I have actually shown leadership and strategic knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for managing payroll techniques, as mentioned by Mark. My role involves handling 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 company.
business to make the time 100 list for many prominent business on the planet we supply payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good evening depending upon where you remain in the world it's beautiful to meet 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 have actually remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or six years where I've kind of had a variety of different functions on the company side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple 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 already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely dreary and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most significantly policies compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the global Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll model there's typically an overwhelming variety of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big amounts and or very extremely basic there's no genuine consistency framework we're residing in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think
about it to provide 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 honestly the more a business invests in international payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of international companies have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes improperly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect place the average cost 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 smoothly if they rely on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to workers or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be consisted of right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the customer's own in-country account so there's complexity wherever you look ideal ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link in 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 type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely essential that payroll and finance groups work closer together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the settlement landscape is ending up being progressively intricate. Companies are continually presenting new advantages and payment options, which adds to the total complexity. Large corporations frequently divide their payroll and payment processing into different groups, which can cause inadequacies and traffic jams. In my opinion, this doesn't have to be the case. In today's technically sophisticated era, there's no validation for preserving troublesome treatments. Payroll, the company's greatest expense, must be processed properly and on time. Even slight delays can adversely impact workers' well-being and have far-reaching effects. For that reason, it's critical to focus on accurate and prompt payments.
payroll team get um so I'm uncertain anybody on this type of webinar has been informed 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 employees or not um but ultimately payroll is such an important cycle we all find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe 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 stuff is done properly so leveraging the first Global Payments first payroll payment solution is a terrific primary step um offering an end-to-end payroll option for your staff members worldwide again I believe is another huge um process again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of businesses and reducing the variety of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never 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 grievances where things haven't gone quite where they're indicated to be um I do not believe any of us are really doing that for for the thanks
anyway we know how how crucial a function 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 associated with those procedures and also so think of sorry I'm simply I was just gon na state think of 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 speaking about hundreds of thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely 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 check out them and in fact see what was going on and kind of shot to return to everyone so proceeding appearance why do companies pick to main separate savings account there are organizations out there doing precisely this for particular countries and I've operated in an organization or lots of businesses doing exactly that I can say it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for any person where we don't need to and anybody 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 many reasons one is it's the standard I believe individuals have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but eventually people are extremely stuck with what they're familiar
with best um modification is a difficult thing all of us don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having preserving several bank accounts but there's a huge quantity of complexity goes with setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private people so the complexity is substantial but I believe the sincere response is change um people have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings 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 excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century approximately there is a lot to keep track of and this method does present several challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I recently made a modification 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 actually gotten another CFO, and with this improved ability, I have effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
Sure Payroll Vs Papaya Global