Find out more about Papaya Global Payroll London ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to handling payments. This provides us with a secure and trusted approach of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Worker Website provides workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages plans to international workers no matter the variety of staff members in the company. The company can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
The HR capabilities provided by International HR incorporate numerous functions such as keeping track of vacation time, guaranteeing compliance, assisting in the procedure of welcoming new employees and bidding farewell to leaving ones, using a safe and secure online platform for saving workers' documents, and supplying assistance for work allow treatments in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total employment costs distributed per place, total employment expenses per cycle and much more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and structure external relationships supporting Enterprise clients and options along with acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for many prominent companies on the planet we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to satisfy 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 10 years and particularly 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 decided to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various functions on the company side and also on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely uninspiring and I wish I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies maintain different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a recap which must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being more and more common and managing them ends up being increasingly more complex Global organizations are seeking to discover Solutions and new methods to streamline processes particularly from a payroll and cross-border payment viewpoint lots of organizations maintain different checking account just for payroll while some have several accounts in different nations does it make sense for companies to keep separate bank accounts in some cases in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business streamline the episode complex processes of
Guaranteeing precise, efficient, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how enhancing global payroll payments can change them from a challenging job into a tactical property.
Handling payroll internationally is a complicated job due to various policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and companies adds to the complexity, with an approximated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual processes, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Despite living in a period of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to supply insights and options to streamline and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on international payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies have actually revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they count on the needed numerous procedures 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 service face when they're paying to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 complexity any place you look right ultimately constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble incredibly payments no if but some infants 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 fundamental and technology is permitting us to type of move on with that it also too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being provided by organizations across the world so again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine obstacles or real tough sort of pay uses to play to pay people I think yeah I mean over the last well yeah a number of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any service has from a cost point of view from an effect viewpoint on employees it is absolutely crucial that it's done properly and on time so what we imply 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 harmful impact on individuals's wellness and many other aspects if people aren't paid uh I've always been impressed coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. For that reason, it is important to ensure that tasks like Wi-Fi International and other crucial matters are done correctly. Utilizing the first Global Payments very first payroll payment option is a great preliminary action towards offering a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account needed for international payroll are crucial consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we understand how how essential 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 simple as possible for everyone that's associated with those procedures and likewise so picture sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task trying to clean 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 require days of the week to attempt to browse them and really see what was going on and type of shot to get back to everyone so proceeding appearance why do business choose to primary different savings account there are services out there doing precisely this for specific countries and I've worked in a service or numerous companies doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have actually got so used to we require a new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering but ultimately people are extremely stuck with what they recognize
with right um change is a hard thing all of us do not like modification um so I believe it's simply type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining multiple savings account but there's a big amount of intricacy opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the intricacy is big however I think the truthful response is modification um individuals have not been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or two there is a lot to keep track of and this technique does position a number of obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your achievements.
Sure Payroll Vs Papaya Global