Find out more about Papaya Global Payroll Get W2 ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a protected and reliable method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Employee Website provides staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to international employees no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source local advantages service providers in every nation, create local accounts and have a minimum number of staff members.
The HR abilities supplied by Worldwide HR incorporate different functions such as keeping track of vacation time, guaranteeing compliance, assisting in the process of welcoming new workers and bidding goodbye to departing ones, offering a safe and secure online platform for saving workers' files, and offering support for work allow procedures in case your employees need assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work costs distributed per location, overall work expenses per cycle and far more.
environments across the globe I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise clients and options along with functioning as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending upon where you are in the world it's charming to meet 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 have actually been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a range of various roles on the company side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly 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 raining here it's extremely extremely gloomy and I want I was elsewhere at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming 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.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the large numbers they add more complexity the global Workforce is presently three 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 currently 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 design there's frequently a frustrating number of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or really really standard there's no genuine consistency structure we're living 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 typically with pen and paper which simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide businesses have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes badly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the average expense of a global information 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 depend on the needed multiple 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 obstacles organization face when they're making payments to staff members or otherwise that's a good question I always throw this back and state what is it what does not need to be included best and what does
it require to be considered there's varying 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 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 complexity anywhere you look right eventually building a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to sort of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work closer together than ever um I'm always amazed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they divide 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 procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high value on wellness and the compensation landscape is ending up being significantly complex. Businesses are continuously introducing new benefits and payment alternatives, which adds to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can result in inadequacies and traffic jams. In my viewpoint, this does not need to be the case. In today's technologically sophisticated era, there's no reason for maintaining cumbersome treatments. Payroll, the business's biggest expense, need to be processed properly and on time. Even slight hold-ups can negatively affect workers' wellness and have significant effects. Therefore, it's vital to focus on accurate and timely payments.
payroll group 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 terrific to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe 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 very first Global Payments first payroll payment option is a terrific first step um offering an end-to-end payroll solution for your employees globally again I believe is another substantial um process again lining up and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and minimizing the number of tools platforms and bank accounts they require for their International 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 ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how essential 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 associated with those procedures and also so imagine sorry I'm just I was simply 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'm sure we're talking about numerous thousands potentially Millions imagine getting that many 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 absolutely be a fascinating task trying to clean up all those up for sure oh absolutely 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 look through them and actually see what was going on and sort of shot to return to everybody so carrying on appearance why do business select to main different savings account there are companies out there doing precisely this for specific nations and I've operated in a service or many businesses doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not developing additional work for anyone where we do not have to and anybody that's managing that process 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 numerous reasons one is it's the requirement I believe individuals have got so used to we need a brand-new bank account we open an entity and appropriately 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 norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a range I think this is a process that requires taking a look at it needs changing but ultimately individuals are very stuck with what they're familiar
with right um modification is a challenging thing we all do not like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having maintaining numerous savings account however there's a substantial amount of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is big but I believe the truthful answer is change um individuals have not had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no genuine 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 approximately there is a lot to track and this approach does posture numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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