Find out more about Papaya Global Spain ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Worker Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive advantages packages to worldwide workers despite the number of employees in the business. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits companies in every nation, develop regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR encompass numerous functions such as keeping track of vacation time, guaranteeing compliance, helping with the procedure of welcoming brand-new workers and bidding farewell to departing ones, providing a safe and secure online platform for storing employees' files, and supplying support for work permit procedures in case your workers need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall work costs dispersed per area, total employment costs per cycle and much more.
Internationally, I have actually demonstrated leadership and strategic expertise in guiding large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll methods, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global company, we are honored to be included on the prominent Time 100 list of the most influential business worldwide. We focus on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to satisfy 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 years of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 extremely uninspiring and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of preserving different checking account for payroll in different countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic property for payroll executives. We will also supply 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 throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank 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 nation but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most significantly policies compliance data security and banking guidelines then there are the sheer numbers they add more complexity the international Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's frequently a frustrating variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or very extremely fundamental there's no real consistency framework we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently 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 only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in global payroll the less of a photo they see an absence of presence also reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of global companies have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors badly communicated hires and terminations along with absence management and system configurations and after that when you round it all off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not need to be included best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 consumer's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is allowing us to sort of move forward with that it likewise too to add to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely important that payroll and finance groups work more detailed together than ever um I'm always surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more essential to contribute to type of the level of complexity there's a growing number of benefits being organ or being used by organizations throughout the world so again you're simply seeking to include a growing number of payments to this already complex landscape so if you kind 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 difficulties or real tough 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 definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are teams feeding details into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from an expense point of view from an effect perspective on workers it is definitely crucial 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 greatest detrimental impact on individuals's wellness and lots of other elements if individuals aren't paid uh I've constantly been impressed entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this kind 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 eventually payroll is such an important cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout 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 stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a great first step um supplying an end-to-end payroll option for your staff members worldwide again I think is another huge um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and lowering the variety of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually 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 have not gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyhow we know how how crucial a function 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 easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm just I was just gon na say envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean 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 actually see what was going on and type of try to get back to everybody so proceeding appearance why do companies choose to primary different checking account there are businesses out there doing precisely this for specific countries and I have actually worked in a company or lots of companies doing exactly that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't need to and any person that's handling that process 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 many factors one is it's the standard I believe individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that people 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 variety I think this is a process that needs looking at it needs changing however ultimately individuals are very stuck with what they're familiar
with right um modification is a hard thing we all do not like modification um so I believe it's simply type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the advantages of having maintaining several bank accounts but there's a substantial quantity of complexity chooses establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is big but I think the truthful answer is change um people haven't had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've always done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century or so there is a lot to monitor and this technique does present a number of difficulties 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 changed our Enterprise 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 workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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