Find out more about Papaya Global Workers Comp ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, conserving me a significant amount of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Worker Portal offers workers with the ability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Benefits Administration
Papaya Global assists companies use competitive benefits plans to global employees no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages service providers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall work expenses distributed per area, overall employment costs per cycle and far more.
Internationally, I have demonstrated leadership and tactical expertise in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for managing payroll techniques, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a worldwide company, we are honored to be consisted of 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 introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to meet you and thank you for your important 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 industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I have actually sort of had a range of different roles on the supplier side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort 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 raining here it's very very dreary 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 preserve different
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical 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 safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Global 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 globally it's next level and Beyond it becomes complicated for a range of reasons most importantly guidelines compliance data security and banking rules then there are the large numbers they include additional complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's typically an overwhelming number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or very extremely basic there's no genuine consistency framework we're living in a period 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 and that simply blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international companies have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors badly communicated hires and terminations along with lack management and system configurations and after that when you round it all off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run smoothly if they count on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're making payments 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 consisted of best and what does
it need to be considered there's differing Bank information 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 need to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is absolutely important but everywhere you look with payroll payment they resemble super payments no if however some babies 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 basic and technology is allowing us to type of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing teams work closer together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately 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 however likewise paying statutory authorities and on statutory third parties so with the
The modern world places a high value on well-being and the compensation landscape is ending up being significantly detailed. Companies are continually introducing new benefits and payment alternatives, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into separate teams, which can result in inadequacies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically advanced era, there's no reason for keeping troublesome procedures. Payroll, the business's biggest expenditure, must be processed correctly and on time. Even slight delays can negatively affect employees' wellness and have far-reaching repercussions. For that reason, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this type 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 ultimately payroll is such an important cycle all of us become aware of 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 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 absolutely essential that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is a terrific first step um offering an end-to-end payroll service for your employees globally again I believe is another huge um process again aligning and guaranteeing you have standardization International processes all of those things are absolutely key to success success of services and decreasing the number of tools platforms and bank accounts they require for their Worldwide payroll too could not 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 do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating 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 in fact see what was going on and type of try to get back to everybody so carrying on appearance why do companies select to primary separate savings account there are companies out there doing precisely this for particular nations and I've worked in an organization or many companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not need to and anybody 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 believe numerous reasons one is it's the standard I believe people have got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it requires changing but ultimately people are extremely stuck with what they recognize
with right um change is a difficult thing we all don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having preserving numerous savings account but there's a huge quantity of complexity opts for establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is substantial but I believe the truthful answer is modification um people haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter but we've always done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to keep track of and this approach does present several 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 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 seems like our CFO has actually gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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