Find out more about Papaya Global Payroll Used To Be What ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and reputable method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to international staff members no matter the number of employees in the business. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per place, overall employment expenses per cycle and a lot more.
environments across the globe I provided leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business clients and solutions as well as functioning as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for the majority of influential companies in the world we offer payroll payments and workforce management to all worker types in 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 of course thank you good morning good afternoon excellent night depending upon where you are in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of different functions on the service provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very extremely bleak and I wish I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also provide a wrap-up 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 during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most notably guidelines compliance information security and banking rules then there are the large numbers they include further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll model there's often an overwhelming variety of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely really basic there's no genuine consistency framework we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide companies have actually expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe 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 point of view and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be consisted of best and what does
it require to be thought of there's varying 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation 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 individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The modern world positions a high value on well-being and the payment landscape is becoming significantly intricate. Companies are constantly introducing new benefits and payment options, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's technically sophisticated period, there's no reason for keeping troublesome treatments. Payroll, the business's biggest expense, should be processed correctly and on time. Even minor hold-ups can negatively affect workers' wellness and have significant consequences. Therefore, it's critical to prioritize precise and timely payments.
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only see when things fail. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first Global Payments first payroll payment solution is a great initial step towards offering a comprehensive payroll service for employees worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are key factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyway 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 also so picture sorry I'm just I was just gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying to clean all those up for sure oh definitely 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 return to everybody so proceeding appearance why do companies choose to primary separate bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or lots of services doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating additional work for any person where we do not have to and any person 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 believe lots of reasons one is it's the requirement I believe individuals have got so utilized to we require a brand-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 simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires looking at it needs changing but ultimately people are really stuck with what they're familiar
with ideal um change is a difficult thing we all don't like modification um so I think it's just kind 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 obviously the advantages of having keeping numerous checking account but there's a huge quantity of complexity goes with establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific people so the complexity is substantial but I think the sincere response is change um individuals have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this technique does present numerous obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
Sure Payroll Vs Papaya Global