Find out more about Nominal Link Settings Papaya Global ... 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 acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and trusted method of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Worker Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to global workers regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every country, develop local accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work expenses distributed per place, total employment expenses per cycle and far more.
Globally, I have demonstrated leadership and strategic expertise in guiding large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My function includes handling and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for a lot of prominent companies worldwide we supply payroll payments and workforce management to all staff member enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you are in the world it's charming to meet you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've kind of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very bleak and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, effective, and timely payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can change them from a difficult task into a strategic asset.
Managing payroll globally is a daunting job due to numerous regulations, compliance requirements, data security issues, and banking rules. The large number of workers and businesses adds to the complexity, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems typically lead to manual processes, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Despite living in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to supply insights and services to streamline and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more an organization invests in global payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of international businesses have actually expressed 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 data information entry mistakes inadequately interacted hires and terminations as well as absence 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 a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's an excellent concern I always toss this back and state what is it what does not need to be included right 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 nation 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 have to pay from the consumer's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is absolutely important but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link 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 innovation is allowing us to sort of progress with that it also too to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely crucial that payroll and finance groups work better together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 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 3rd parties so with the
The modern world puts a high value on wellness and the payment landscape is ending up being increasingly detailed. Services are continually presenting new advantages and payment choices, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can cause ineffectiveness and traffic jams. In my opinion, this doesn't have to hold true. In today's technologically innovative period, there's no reason for preserving cumbersome procedures. Payroll, the company's biggest expense, must be processed correctly and on time. Even small hold-ups can negatively impact staff members' wellness and have significant repercussions. For that reason, it's crucial to prioritize precise and timely payments.
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. For that reason, it is necessary to ensure that jobs like Wi-Fi Worldwide and other important matters are done correctly. Utilizing the first International Payments very first payroll payment solution is an excellent preliminary action towards supplying a thorough payroll service for employees worldwide. Standardization, worldwide procedures, and reducing the number of tools, platforms, and bank accounts essential for global payroll are crucial consider accomplishing organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we understand how how essential 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 processes and also so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh absolutely I can't think of 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 really see what was going on and sort of try to get back to everybody so carrying on look why do companies pick to primary separate bank accounts there are services out there doing precisely this for specific nations and I have actually worked in a service or lots of organizations doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not producing additional work for anyone where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think 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 think people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it needs changing however eventually people are really stuck to what they recognize
with best um modification is a tough thing we all don't like modification um so I believe it's just 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 certainly the benefits of having keeping several checking account but there's a big quantity of complexity chooses setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big however I believe the sincere answer is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does position several difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I just did you changed 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 staff members you are worthy of a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you