Find out more about Papaya Global Payroll Presentation ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and trustworthy technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app improves my payroll procedure, conserving me a significant quantity of time monthly. With its easy to use interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
Staff member Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to worldwide workers despite the number of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits providers in every country, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses distributed per place, total work expenses per cycle and far more.
Globally, I have demonstrated management and tactical know-how in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually 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 type of had a variety of various functions on the provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll also discuss a recap and that should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them ends up being increasingly more complicated Worldwide companies are wanting to discover Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment perspective lots of organizations maintain different savings account just for payroll while some have several accounts in various countries does it make sense for business to maintain different savings account sometimes in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex processes of
Making sure accurate, effective, and timely payroll payments is a complex challenge for businesses running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and discover how enhancing international payroll payments can transform them from a challenging job into a tactical property.
Managing payroll internationally is a difficult job due to various regulations, compliance requirements, data security issues, and banking rules. The large number of staff members and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically result in manual processes, information silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. In spite of living in an age 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 objectives to provide insights and services to simplify and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in global payroll the less of a picture they see a lack of visibility likewise extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of international organizations 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 due to time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the information is shipped to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they rely on the necessary numerous processes 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 challenges company face when they're making payments to employees or otherwise that's a great question I always toss 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 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 abilities 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 intricacy wherever you look ideal eventually developing a knowledge base is definitely vital however all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to sort of move forward with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and finance teams work closer together than ever um I'm always surprised when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation 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 information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to contribute to type of the level of intricacy there's more and more benefits being organ or being provided by organizations across the world so once again you're simply wanting to include increasingly more payments to this currently complicated landscape so if you sort 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 genuine obstacles or genuine difficult sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce extra handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an impact viewpoint on workers it is definitely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging impact on people's well-being and numerous other elements if individuals aren't paid uh I've constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the first Global Payments very first payroll payment option is an excellent first step um providing an end-to-end payroll solution for your workers globally again I believe is another substantial um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and reducing the variety of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually 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 complaints where things haven't gone rather where they're suggested to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everyone that's involved in those procedures and likewise so envision sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting 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 attempt to browse them and really see what was going on and sort of shot to get back to everybody so moving on appearance why do companies select to main separate bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in a company or lots of businesses doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not developing extra work for anyone where we don't need to and anybody that's handling 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 amount that we are I think many factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new checking 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 believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I think this is a process that requires looking at it needs altering however eventually individuals are very stuck to what they recognize
with ideal um modification is a tough thing we all do not like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having maintaining multiple savings account but there's a substantial amount of complexity chooses establishing a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is substantial however I think the sincere answer is modification um individuals haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be figured out to be the next Century or so there is a lot to keep an eye on and this method does present a number of obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification 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 actually gained another CFO, and with this enhanced ability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
Sure Payroll Vs Papaya Global