Find out more about Papaya Global Payroll Systems ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically dedicated to managing payments. This provides us with a safe and secure and trusted approach of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app improves my payroll process, saving me a substantial quantity of time every month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Worker Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to global workers despite the variety of employees in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source regional benefits providers in every country, produce regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment costs dispersed per place, overall work costs per cycle and a lot more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and services in addition to functioning as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly 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 different functions on the supplier side and likewise on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or two to join all of us 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 currently simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually 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 raining here it's extremely extremely bleak and I want I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business maintain different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about 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.
making payroll payments accurately efficiently safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance information security and banking guidelines then there are the large numbers they include more complexity the international Labor force is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating number of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or very extremely basic there's no real consistency structure we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on global payroll the less of a photo they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations in addition to lack management and system setups and then when you round all of it off and the information is delivered to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the required numerous processes 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 challenges business face when they're paying to employees or otherwise that's an excellent question I always throw this back and say what is it what does not require to be consisted of ideal 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 nation 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 client's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to type of move on with that it likewise as well to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly impressed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on wellness and the settlement landscape is ending up being significantly complex. Organizations are continuously introducing new benefits and payment options, which adds to the overall complexity. Big corporations often divide their payroll and payment processing into different groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not need to be the case. In today's technically sophisticated period, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant cost, should be processed properly and on time. Even small delays can adversely impact employees' wellness and have significant repercussions. Therefore, it's crucial to prioritize accurate and prompt payments.
payroll group get um so I'm not sure anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all hear about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a terrific primary step um providing an end-to-end payroll option for your staff members globally again I believe is another big um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely essential to success success of organizations and lowering the variety of tools platforms and bank accounts 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 have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know 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 everybody that's associated with those processes and likewise so envision sorry I'm simply I was just gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of try to get back to everybody so carrying on appearance why do business pick to primary separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in an organization or numerous services doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not developing extra work for any person where we don't need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the standard I believe people have got so used to we need a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that requires taking a look at it needs altering but eventually people are very stuck to what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping numerous checking account however there's a huge amount of complexity opts for establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big however I believe the truthful response is modification um people have not been able to alter or haven't had always the understanding 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 think it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the benefits 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 pose numerous difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global staff members you deserve a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global