Find out more about Papaya Global Hungary ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trustworthy technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax statements and employment documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages packages to international workers no matter the number of workers in the company. The company can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, develop regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment costs dispersed per location, total employment expenses per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical proficiency in assisting large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for managing payroll techniques, as mentioned by Mark. My role involves handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually type of had a range of different functions on the company side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll sort 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 kind of like see where everyone 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 really very dreary and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise 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 securely and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business accurately forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most importantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Labor force is presently 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 presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the traditional payroll model there's typically a frustrating number of various systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or really very fundamental there's no genuine consistency framework we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that offers me sleepless nights and rather honestly the more a business invests in global payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations have actually revealed 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 because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the information is delivered to the incorrect place the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the required multiple 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 business face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and say what is it what doesn't require to be included best and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some infants 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 essential and innovation is permitting us to type of progress with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say 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 split 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 data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to sort of the level of complexity there's more and more benefits being organ or being provided by services across the world so again you're just looking to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real difficulties or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to create additional handoffs in the processes that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an era 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 agreed and rightly as you stated payroll is the single most significant liability that any service has from an expense perspective from an impact perspective on staff members 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 greatest harmful result on individuals's wellness and many other factors if individuals aren't paid uh I've constantly been amazed entering this Market sort of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the first International Payments very first payroll payment solution is an excellent initial step towards supplying a thorough payroll service for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and bank accounts required for worldwide payroll are crucial consider accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as prepared. Ultimately, we do not do it for the appreciation.
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 simple as possible for everybody that's associated with those processes and also so imagine sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of 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 imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and type of shot to return to everyone so carrying on appearance why do business choose to primary separate bank accounts there are services out there doing exactly this for specific nations and I've operated in an organization or many organizations doing precisely that I can state it doesn't always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not have to and anybody that's dealing with that process 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 believe numerous reasons one is it's the requirement 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 functions however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a process that requires looking at it requires changing but ultimately people are extremely stuck to what they recognize
with right um change is a hard thing we all don't like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having preserving several checking account however there's a substantial amount of complexity goes with setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for specific people so the complexity is huge but I believe the sincere response is modification um individuals haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or so there is a lot to keep an eye on and this approach does present several obstacles um so Johnny could you tell us about those challenges yeah obviously 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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