Find out more about Papaya Global Payroll For One Person ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and secure and dependable technique of paying to our 10,000 workers worldwide.}
The innovative international payroll management app improves my payroll process, saving me a significant amount of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Staff member Portal
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies offer competitive benefits packages to global employees no matter the number of workers in the business. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every nation, create local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs dispersed per location, total work costs per cycle and a lot more.
Internationally, I have shown leadership and tactical proficiency in directing massive populations of over 100,000 staff members across 170 countries. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role includes handling and establishing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for the majority of influential business on the planet we supply payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending on where you remain in the world it's lovely 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've remained in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated 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 6 years where I have actually type of had a range of different functions on the company side and also on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently 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 is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very very gloomy and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most significantly guidelines compliance information security and banking guidelines then there are the large numbers they include more complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 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 worldwide in the conventional payroll design there's often a frustrating number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or extremely extremely fundamental there's no real consistency structure we're residing 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 often with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide companies have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is shipped to the incorrect location the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is just 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 good concern I constantly throw this back and state what is it what does not require to be consisted of right 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 country there's payment time frames there's payment abilities 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 consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely essential and technology is allowing us to sort of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm always impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation 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 people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on well-being and the compensation landscape is becoming increasingly detailed. Organizations are continuously presenting new benefits and payment alternatives, which contributes to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different teams, which can result in inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly sophisticated period, there's no validation for preserving troublesome procedures. Payroll, the business's most significant expense, need to be processed correctly and on time. Even small delays can adversely affect staff members' wellness and have significant consequences. Therefore, it's critical to prioritize precise and timely payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally too. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Using the very first International Payments first payroll payment option is an excellent initial action towards offering an extensive payroll option for staff members worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and checking account necessary for international payroll are essential factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we understand 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and actually see what was going on and sort of try to get back to everybody so carrying on look why do companies select to main different savings account there are services out there doing exactly this for particular nations and I've worked in a business or many services doing exactly that I can say it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not need to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I think people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually people are extremely stuck with what they recognize
with best um change is a hard thing all of us don't like change um so I believe it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping multiple bank accounts but there's a huge amount of complexity goes with establishing a savings account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is substantial but I think the truthful answer is change um individuals have not been able to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or so there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner workplace with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global