Find out more about Papaya Global Payroll Deals ... 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 gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll procedure, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Website
Employees have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages plans to worldwide staff members despite the variety of employees in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, overall employment costs distributed per place, total work expenses per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work across the business managing and building external relationships supporting Business clients and options in addition to serving as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many influential business worldwide we provide payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon great night depending upon where you are in the world it's beautiful to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty 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 have actually sort of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 very really gloomy and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially helpful for international organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a wrap-up 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 during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most notably policies compliance data security and banking guidelines then there are the large numbers they include additional intricacy the international Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll design there's often an overwhelming number of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or really really basic there's no real consistency structure we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a service spends on worldwide payroll the less of a photo they see an absence of visibility likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of international organizations have actually expressed that they don't 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 poor HCM information data entry errors poorly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the data is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good question I always throw this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 need to pay from the consumer's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is definitely important however all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 essential and innovation is allowing us to type of move on with that it likewise too to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance groups work better together than ever um I'm always impressed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to contribute to sort of the level of complexity there's increasingly more advantages being organ or being provided by companies across the world so again you're just looking to add more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or real tough type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely state that the larger 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 teams feeding details into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they don't make them what they need 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 difficult as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any organization has from an expense perspective from an impact perspective on employees it is definitely vital that it's done correctly and on time so what we suggest 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 impact on individuals's wellness and many other factors if people aren't paid uh I've constantly been impressed entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done properly so leveraging the first International Payments first payroll payment option is an excellent first step um providing an end-to-end payroll option for your workers worldwide again I think is another big um process again aligning and ensuring you have standardization International processes all of those things are absolutely key to success success of services and reducing the number of tools platforms and checking account they need for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never 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 complaints where things have not gone rather where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how important 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 associated with those processes and likewise so envision sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying 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 require days of the week to try to check out them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business pick to primary different savings account there are businesses out there doing exactly this for specific nations and I've worked in an organization or many services doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not have to and any person that's managing that procedure 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 think lots of factors one is it's the requirement I believe individuals have got so utilized to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a process that needs looking at it needs altering however eventually people are really stuck with what they're familiar
with right um change is a difficult thing we all do not like change um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the advantages of having preserving numerous bank accounts however there's a big amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is big but I think the sincere response is change um individuals haven't had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking 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 alter however we have actually constantly 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 almost be figured out to be the next Century or two there is a lot to monitor and this method does posture a number of difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has gained another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
Sure Payroll Vs Papaya Global