Find out more about Papaya Global Payroll Go Public ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This provides us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Portal
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and employment documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to global employees despite the number of workers in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source regional benefits providers in every country, develop regional accounts and have a minimum variety of workers.
The HR abilities supplied by Worldwide HR include different functions such as monitoring holiday time, guaranteeing compliance, facilitating the procedure of inviting new staff members and bidding farewell to departing ones, providing a safe online platform for storing workers' documents, and offering assistance for work allow treatments in case your staff members require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, total employment expenses distributed per place, total employment costs per cycle and far more.
Globally, I have actually demonstrated leadership and tactical competence in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll strategies, as pointed out by Mark. My role involves handling and developing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
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 staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon excellent night depending on where you remain in the world it's lovely 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 been in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was captivated by the intricacy 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 6 years where I have actually sort of had a variety of various functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or so to join we all 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 just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely dreary and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, 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 go over why they are becoming a strategic property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex obstacle for services operating worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can change them from a burdensome job into a strategic property.
Managing payroll internationally is a difficult job due to different regulations, compliance requirements, information security issues, and banking rules. The sheer variety of workers and services contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, resulting in disparities and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and options to simplify and enhance worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of an image they see an absence of exposure also reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of global services have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes improperly interacted hires and terminations along with absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're making payments to staff members or otherwise that's an excellent concern I always toss this back and state what is it what doesn't need to be included 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 amount of time there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look right eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort 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 fundamental and technology is permitting us to kind of move forward with that it also also to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work closer together than ever um I'm always surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession 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 often 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 any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of complexity there's a growing number of advantages being organ or being provided by businesses throughout the world so again you're simply wanting to include more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments functions 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 however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense viewpoint from an effect viewpoint on workers it is absolutely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful result on people's well-being and many other elements if people aren't paid uh I've always been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only notice when things fail. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. For that reason, it is essential to ensure that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the first Global Payments first payroll payment solution is an excellent preliminary action towards supplying a comprehensive payroll solution for employees worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account needed for worldwide payroll are crucial factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand how how important 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 simple as possible for everyone that's involved in those processes and likewise so imagine sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing 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 was the case um you 'd require days of the week to try to check out them and really see what was going on and type of try to return to everyone so moving on look why do business choose to main separate bank accounts there are businesses out there doing exactly this for particular countries and I've worked in a business or numerous businesses doing precisely that I can state it doesn't constantly feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for any person where we don't have to and any person 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 quantity that we are I believe numerous factors one is it's the standard I think individuals have actually got so utilized to we require a 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 simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing however eventually individuals are very stuck with what they're familiar
with best um modification is a hard thing we all don't like change um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having preserving several checking account however there's a huge quantity of intricacy chooses establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is big however I think the sincere response is change um people have not had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to track and this technique does position several difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I simply did you changed 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 Global employees you deserve a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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