Find out more about Papaya Global Papua New Guinea ... 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 particularly devoted to handling payments. This offers us with a safe and secure and dependable approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app improves my payroll procedure, saving me a substantial amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Employee Website supplies workers with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to international staff members no matter the variety of employees in the business. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total employment costs dispersed per place, overall employment expenses per cycle and far more.
Worldwide, I have actually shown management and strategic know-how in assisting massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My role involves handling and developing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying 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 present himself. Good day to all, regardless of your area. It's a pleasure to meet you and thank you for your valuable time. As Ian pointed out, 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 solutions for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've type of had a variety of different functions on the provider side and also on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing 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 comes from and I really 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 raining here it's really very gloomy and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies preserve different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and timely payroll payments is a complex challenge for services operating internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business forecast payroll expenses to optimize working capital, and discover how improving international payroll payments can transform them from a challenging job into a tactical property.
Handling payroll internationally is a complicated job due to different regulations, compliance requirements, data security issues, and banking rules. The large variety of staff members and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and a lack of combination, resulting in disparities and ineffectiveness. Despite residing in a period of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business spends on worldwide payroll the less of a picture they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal almost half of worldwide businesses have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes poorly communicated hires and terminations in addition to 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 average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're paying to employees or otherwise that's an excellent concern I always toss this back and say what is it what does not require to be included 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 country there's payment time frames there's payment capabilities 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 intricacy anywhere you look best ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you 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 absolutely fundamental and technology is permitting us to sort of move on with that it also also to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work closer together than ever um I'm always astonished when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure 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 important to add to kind of the level of intricacy there's more and more advantages being organ or being provided by organizations throughout the world so once again you're simply looking to add more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real challenges or genuine difficult kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop extra 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 age that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any service has from a cost perspective from an impact point of view on workers it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive impact on individuals's wellness and numerous other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. Therefore, it is vital to make sure that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the first International Payments first payroll payment option is a fantastic initial action towards providing a thorough payroll option for staff members worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and bank accounts required for global payroll are key consider attaining company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow we understand how how important 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 everyone that's associated with those procedures and also so envision sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean up all those up for sure oh definitely I can't picture 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 type of shot to get back to everybody so proceeding look why do business select to main separate bank accounts there are companies out there doing exactly this for specific nations and I've operated in a business or numerous services doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing extra work for anybody where we don't need to and anybody that's managing that procedure 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 numerous factors one is it's the requirement I think people have actually got so utilized to we need a new checking account we open an entity and rightly so you require 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 requirement and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have 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 think this is a procedure that requires taking a look at it requires altering however ultimately people are very stuck to what they recognize
with best um change is a tough thing we all don't like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having preserving numerous bank accounts but there's a huge amount of intricacy opts for setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial however I believe the truthful response is modification um individuals haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century or two there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny might you tell us about those difficulties 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 manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your accomplishments.
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