Find out more about Papaya Global Locations ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and secure and trustworthy technique of paying to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, saving me a substantial amount of time each month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Employee Portal provides staff members with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive benefits plans to global staff members despite the number of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages providers in every country, produce regional accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, overall work expenses distributed per place, total work expenses per cycle and much more.
Worldwide, I have shown management and tactical proficiency in directing massive populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for overseeing payroll methods, as discussed by Mark. My function includes handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a pleasure to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various functions on the company side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really very dreary and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they add further intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll model there's often a frustrating variety of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or very really standard there's no real consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to provide you an idea 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 gives me sleep deprived nights and rather honestly the more a business spends on worldwide payroll the less of an image they see a lack of visibility also encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international businesses have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors inadequately communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect location the average expense of an international 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 don't run smoothly if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're making payments to workers or otherwise that's an excellent question I constantly toss this back and state what is it what doesn't need to be included right and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the consumer's own in-country account so there's complexity any place you look best eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to sort of move forward with that it also too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I'm always impressed when individuals 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 calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Companies are continually presenting brand-new advantages and payment alternatives, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my opinion, this doesn't need to be the case. In today's technically sophisticated era, there's no justification for preserving troublesome procedures. Payroll, the company's greatest expense, must be processed properly and on time. Even minor hold-ups can adversely affect workers' well-being and have far-reaching consequences. Therefore, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been told 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 workers or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment option is a fantastic initial step um supplying an end-to-end payroll service for your workers internationally once again I believe is another substantial um procedure again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of services and lowering the variety of tools platforms and savings account they need for their Global 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're implied to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how important a role 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 simple as possible for everyone that's associated with those processes and also so picture sorry I'm just I was just gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and kind of shot to get back to everybody so moving on look why do companies pick to main different savings account there are companies out there doing precisely this for specific countries and I've worked in a business or lots of companies doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and any person 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 factors one is it's the standard I think individuals have actually got so used to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have actually adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires altering but ultimately people are extremely stuck to what they're familiar
with ideal um change is a tough thing all of us don't like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping several checking account however there's a substantial amount of complexity chooses setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is huge but I think the honest response is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep an eye on and this approach does pose numerous difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I simply did you switched our Business 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 Worldwide workers you should have a corner office with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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