Find out more about Papaya Global Payroll W3 ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Staff member Website offers workers with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to worldwide workers despite the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source local benefits companies in every nation, create regional accounts and have a minimum variety of workers.
The HR abilities provided by International HR incorporate numerous functions such as monitoring holiday time, ensuring compliance, helping with the process of inviting new staff members and bidding goodbye to departing ones, using a safe online platform for storing workers' documents, and supplying support for work permit procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work expenses distributed per area, overall work costs per cycle and far more.
Internationally, I have actually shown management and tactical expertise in assisting large-scale populations of over 100,000 staff members across 170 nations. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My function involves handling and developing external collaborations, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for many prominent companies worldwide we supply payroll payments and workforce management to all worker 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 of course thank you good morning great 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 said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually type of had a range of different functions on the supplier side and likewise on the supplier side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide 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 quite 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 comes from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is particularly helpful for worldwide organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure precise, effective, and prompt payroll payments is a complex challenge for organizations operating worldwide. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll worldwide is a daunting task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The large number of workers and businesses contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in disparities and ineffectiveness. Despite living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to supply insights and services to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more a service spends on international payroll the less of an image they see a lack of visibility likewise extends to payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of global businesses have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the information is delivered to the incorrect location the average cost of a worldwide information 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 do not run efficiently if they count on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're paying to workers or otherwise that's an excellent concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be thought about there's varying Bank details 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 capabilities 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely critical however all over you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology 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 Details varying banking requirements and setup processes is definitely crucial that payroll and finance groups work better together than ever um I'm constantly surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession 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 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 but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to kind of the level of complexity there's more and more benefits being organ or being offered by businesses throughout the world so once again you're just seeking to add increasingly more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or real difficult type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would certainly state that the bigger a service 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 groups feeding information into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to produce additional 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 era of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any business has from a cost point of view from an effect viewpoint on staff members it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging effect on individuals's wellness and numerous other elements if people aren't paid uh I have actually always been impressed coming into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. For that reason, it is important to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first Global Payments first payroll payment option is a great initial action towards offering an extensive payroll solution for employees worldwide. Standardization, global processes, and reducing the variety of tools, platforms, and savings account required for global payroll are key consider attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how crucial 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 easy as possible for everyone that's involved in those processes and likewise so imagine sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean up 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 need days of the week to try to look through them and actually see what was going on and type of try to return to everyone so carrying on appearance why do business select to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a service or lots of businesses doing exactly that I can state it does not constantly feel effective and it does produce more work I know we're not deliberately doing that we're not creating extra work for anyone where we don't have to and anyone that's handling that procedure 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 factors one is it's the standard I think individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have adopted 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 numerous other ways um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it requires altering but eventually people are very stuck to what they're familiar
with right um change is a tough thing all of us don't like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous savings account but there's a big amount of complexity opts for setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is huge but I believe the truthful answer is change um people haven't been able to alter or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to monitor and this approach does position numerous obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global