Find out more about Papaya Global Payroll Hourly Pay ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and trustworthy technique of making payments to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to global employees despite the variety of workers in the business. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities offered by Worldwide HR encompass various functions such as monitoring vacation time, making sure compliance, helping with the process of inviting new workers and bidding farewell to departing ones, providing a safe online platform for keeping employees' documents, and providing assistance for work permit procedures in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses distributed per place, overall employment expenses per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and solutions as well as acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The intricacies and obstacles of this field have always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I've kind of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really very dreary and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies keep different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially helpful for international organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping different checking account 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 go over why they are ending up being a tactical property for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for companies operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll expenses to enhance working capital, and discover how simplifying international payroll payments can transform them from a burdensome job into a tactical property.
Handling payroll globally is a difficult job due to numerous guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion people in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and ineffectiveness. Regardless of residing in a period of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to offer insights and services to streamline and enhance worldwide payroll payments.
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 Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in global payroll the less of an image they see a lack of presence also reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global companies have actually 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 information data entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're paying to employees or otherwise that's a great question I always throw this back and say what is it what doesn't require to be included right and what does
it require to be considered there's differing Bank information 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look right eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble incredibly payments no if but some babies 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 recognition that payroll payments are absolutely essential and technology is allowing us to sort of progress with that it also as well to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely essential that payroll and financing teams work closer together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more important to add to kind of the level of intricacy there's more and more advantages being organ or being used by services throughout the world so again you're simply wanting to add increasingly more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real difficulties or real challenging type of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a number of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you understand that we are working in today there is no reason that we are still making this as difficult as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from a cost point of view from an impact viewpoint on staff members it is absolutely vital 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 most significant detrimental result on individuals's well-being and lots of other aspects if individuals aren't paid uh I've constantly been amazed entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has actually 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 staff members or not um but ultimately payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout 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 definitely important that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is a fantastic initial step um offering an end-to-end payroll solution for your employees internationally once again I believe is another substantial um procedure again aligning and ensuring you have standardization International processes all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and checking account they require for their International 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've never had a hundred countless 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 meant 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 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 simple as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was simply gon na state picture 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 discussing hundreds of thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to return to everyone so moving on appearance why do business select to primary different savings account there are businesses out there doing precisely this for particular countries and I've worked in an organization or lots of businesses doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and anyone that's managing 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 amount that we are I think numerous reasons one is it's the standard I believe people have got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs altering however ultimately individuals are very stuck with what they recognize
with right um modification is a hard thing we all don't like change um so I believe it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous checking account but there's a substantial amount of complexity opts for establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the intricacy is big but I think the truthful answer is change um individuals have not had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you know and there is a component of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century or so there is a lot to track and this approach does pose a number of difficulties um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments.
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