Find out more about Papaya Global Course Cost ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a protected and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to global employees regardless of the variety of staff members in the business. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, create regional accounts and have a minimum variety of employees.
The HR abilities offered by Global HR encompass various functions such as keeping track of vacation time, guaranteeing compliance, helping with the procedure of welcoming brand-new employees and bidding goodbye to leaving ones, providing a secure online platform for keeping employees' files, and supplying support for work permit treatments in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs dispersed per area, overall work costs per cycle and much more.
Worldwide, I have actually shown leadership and tactical expertise in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
company to make the time 100 list for many prominent business on the planet we supply payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've kind of had a variety of different roles on the supplier side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually 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 extremely extremely bleak and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business maintain different
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance data security and banking guidelines then there are the large numbers they include further intricacy the worldwide Labor force is currently 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 factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's frequently a frustrating number of different systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or really very basic there's no genuine consistency structure we're living in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every time I I believe
about it to offer you a concept 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 gives me sleepless nights and quite honestly the more a business invests in global payroll the less of a photo they see a lack of presence also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of global businesses have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors badly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be included best and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 client's own in-country account so there's complexity wherever you look ideal eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to type of move on with that it also too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work more detailed together than ever um I'm always impressed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not 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 often 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by companies across the world so once again you're just wanting to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or real challenging type of pay uses to play to pay people I think yeah I mean over the last well yeah a number of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an effect point of view on staff members 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 have to be done right it has the greatest detrimental impact on individuals's wellness and numerous other elements if people 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 type of webinar has actually been informed 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 employees or not um however ultimately payroll is such a crucial cycle we all become aware of it when it fails everybody jumps up and down when it fails 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 likewise like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the very first International Payments very first payroll payment service is a terrific primary step um providing an end-to-end payroll service for your workers internationally once again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and savings account they require for their International 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've never had a hundred countless them within a payroll cycle don't anticipate 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 rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how essential a function 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 everyone that's associated with those processes and also so imagine sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine 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 definitely be an intriguing task attempting to clean all those up for sure oh definitely 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 in fact see what was going on and sort of try to get back to everybody so moving on appearance why do business pick to primary different savings account there are services out there doing exactly this for specific nations and I've worked in a service or many companies doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not developing extra work for anybody where we do not need to and anyone that's managing 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 quantity that we are I believe many factors one is it's the requirement I believe individuals have actually got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll functions however 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 lots of other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs changing however ultimately people are really stuck with what they recognize
with right um modification is a tough thing all of us do not like modification um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping numerous checking account but there's a substantial amount of intricacy goes with establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the complexity is substantial however I think the sincere response is modification um people have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not looking 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 or so there is a lot to keep track of and this approach does present several obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I simply did you switched 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 International workers you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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