Find out more about Papaya Global Payroll Download W3 ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and dependable technique of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies provide competitive benefits plans to global employees regardless of the variety of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every country, develop regional accounts and have a minimum number of staff members.
The HR capabilities offered by International HR incorporate various functions such as keeping an eye on trip time, making sure compliance, helping with the process of welcoming new employees and bidding goodbye to departing ones, using a safe online platform for storing workers' documents, and providing support for work allow treatments in case your staff members require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work costs distributed per area, total work expenses per cycle and far more.
Globally, I have actually demonstrated leadership and tactical expertise in assisting massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for the majority of influential companies in the world we offer payroll payments and workforce management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating 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 actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really very bleak and I wish I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is especially beneficial for global companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to optimize working capital, and discover how simplifying international payroll payments can transform them from a difficult job into a strategic possession.
Managing payroll globally is a daunting task due to various regulations, compliance requirements, data security concerns, and banking rules. The large variety of employees and services contributes to the complexity, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and a lack of combination, resulting in disparities and ineffectiveness. Regardless of living in a period of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar aims to provide insights and options to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on international payroll the less of a picture they see an absence of visibility also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction almost half of global organizations have actually revealed 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 information information entry errors poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the necessary several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be included best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 right eventually developing a knowledge base is absolutely crucial however all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to sort of move forward with that it also too to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from calculation 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 individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more crucial to add to sort of the level of intricacy there's more and more advantages being organ or being used by companies throughout the world so once again you're just looking to add more and more 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 however have you got any experience in kind of genuine difficulties or real challenging sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from an expense perspective from an impact viewpoint on staff members it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging result on individuals's wellness and many other factors if people aren't paid uh I've constantly been amazed entering into this Market kind 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 type of webinar has been informed thank you for processing my payroll correctly 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 all of us hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done properly so leveraging the first International Payments first payroll payment service is a terrific first step um providing an end-to-end payroll service for your workers internationally once again I believe is another huge um process again aligning and ensuring you have standardization Global procedures all of those things are absolutely key to success success of businesses and lowering 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 terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of 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 haven't gone rather where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how important a function 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 everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh absolutely I can't picture 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 actually see what was going on and type of try to get back to everybody so proceeding appearance why do business select to main different savings account there are companies out there doing exactly this for specific nations and I've worked in a company or numerous services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't 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 numerous reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe 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 looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs altering but ultimately people are very stuck with what they recognize
with ideal um change is a tough thing we all do not like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining multiple savings account but there's a substantial quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific people so the intricacy is huge but I believe the truthful response is change um people have not had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've always 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 know what might practically be determined to be the next Century or two there is a lot to track and this method does posture a number of difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed our Business 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 staff members you are worthy of a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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