Find out more about Papaya Global Payroll Certification ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and dependable technique of making payments to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll procedure, conserving me a considerable quantity of time each month. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Portal supplies employees with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages bundles to global staff members no matter the number of workers in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional advantages suppliers in every nation, create local accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total work expenses distributed per location, overall work expenses per cycle and much more.
Internationally, I have actually demonstrated management and tactical knowledge in guiding large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My role includes handling and developing external partnerships, supporting Business clients, and offering advisory services. Additionally, 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 focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have focused on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a variety of various functions on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody 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 type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to kind 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 very extremely gloomy and I wish I was elsewhere 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 challenge years of managing Global payroll why business maintain different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most importantly policies compliance data security and banking rules then there are the sheer numbers they add additional intricacy the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated 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 companies and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming variety of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or very very basic there's no real consistency structure we're living in an era of tech however 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 just blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that offers me sleep deprived nights and quite frankly the more a company invests in international payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of global organizations have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the needed numerous processes 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 challenges organization face when they're making payments to workers or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be included ideal 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 abilities 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 client's own in-country account so there's complexity wherever you look right eventually building a knowledge base is absolutely vital however all over you look with payroll payment they resemble super payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to kind of progress with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely vital that payroll and finance groups work closer together than ever um I'm always astonished when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 frequently 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 people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being provided by companies across the world so again you're just looking to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding info into the next function as it were that's really managing the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more prompt they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost point of view from an effect point of view on employees it is absolutely important that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental impact on individuals's well-being and many other aspects if people aren't paid uh I have actually always been astonished entering into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is a terrific initial step um supplying an end-to-end payroll service for your staff members internationally once again I think is another huge um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of businesses and reducing the variety of tools platforms and checking account they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how essential 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 easy as possible for everybody that's involved in those procedures and likewise so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and kind of try to return to everyone so moving on look why do companies choose to main separate savings account there are organizations out there doing precisely this for particular nations and I've worked in a business or lots of companies doing exactly that I can say it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing additional work for any person where we don't have to and anyone that's managing 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 amount that we are I think numerous factors one is it's the requirement I think people have actually got so used to we require 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 just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that requires looking at it needs altering but eventually individuals are very stuck with what they're familiar
with best um change is a hard thing we all don't like modification um so I think it's simply kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping several bank accounts however there's a substantial amount of complexity chooses establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific individuals so the complexity is substantial but I believe the honest response is modification um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep track of and this approach does present a number of obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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