Find out more about Papaya Global Payroll Outsource ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and reputable method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Worker Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global staff members no matter the number of employees in the company. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source regional advantages service providers in every country, create regional accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses distributed per place, overall employment expenses per cycle and a lot more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Business customers and options in addition to acting as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent business worldwide we provide payroll payments and workforce management to all employee 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 introduce yourself obviously thank you good morning excellent afternoon excellent night depending on where you are in the world it's beautiful to fulfill 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 have actually been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually type of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 everyone originates from and I really 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 drizzling here it's very really gloomy and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out 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 recap 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 organizations running worldwide. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to enhance working capital, and find how enhancing international payroll payments can transform them from a difficult job into a tactical asset.
Handling payroll globally is a complicated task due to numerous guidelines, compliance requirements, information security issues, and banking rules. The sheer number of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual processes, data silos, and an absence of combination, causing inconsistencies and ineffectiveness. In spite of living in a period of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar goals to supply insights and options to streamline and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data 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 a picture they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes poorly communicated 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 cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely 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 constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require 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 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 client's own in-country account so there's complexity any place you look ideal ultimately constructing 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 look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to sort of move on with that it likewise also to add to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm constantly 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 work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by services throughout the world so again you're just aiming to include a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine challenging type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would absolutely state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from a cost perspective from an impact point of view on staff members it is definitely vital that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest detrimental impact on people's wellness and lots of other factors if people aren't paid uh I have actually always been astonished coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong 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 vital that all of this things is done properly so leveraging the very first Global Payments first payroll payment service is a great first step um providing an end-to-end payroll option for your employees worldwide once again I think is another substantial um process again aligning and guaranteeing you have standardization International processes all of those things are definitely essential to success success of companies and decreasing the variety of tools platforms and savings account they require for their International payroll too couldn't 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 thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone quite where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how essential a role 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm just I was simply gon na say imagine the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you notes um I suggest 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 all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and actually see what was going on and type of try to get back to everyone so proceeding look why do companies choose to primary separate savings account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or many businesses doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anybody where we don't have to and anybody that's dealing with that procedure 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 think many factors one is it's the requirement I think people have got so used to we require a new checking account we open an entity and appropriately 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 standard and the norm the people have adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires changing but ultimately people are extremely stuck to what they're familiar
with ideal um change is a difficult thing we all don't like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having keeping numerous bank accounts however there's a big quantity of complexity opts for setting up a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the complexity is huge however I believe the sincere response is change um individuals have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this approach does posture several obstacles um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I just 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 seems like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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