Find out more about Papaya Global Cycle To Work Scheme ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to managing payments. This offers us with a protected and dependable technique of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Portal provides workers with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to international staff members despite the variety of employees in the business. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages companies in every country, produce local accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work expenses dispersed per area, total work expenses per cycle and far more.
Globally, I have demonstrated leadership and strategic competence in assisting massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for supervising payroll methods, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually type of had a variety of different roles on the provider side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really 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 very dreary and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies preserve separate
Virtual payroll accounts are an option to traditional checking account for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll checking account, learn how companies anticipate payroll expenses to enhance working capital, and find how simplifying international payroll payments can change them from a burdensome task into a strategic possession.
Handling payroll globally is a challenging job due to different policies, compliance requirements, information security concerns, and banking rules. The large variety of workers and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and optimize global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather honestly the more a business spends on global payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international companies have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're paying to employees or otherwise that's a great question I constantly toss this back and say what is it what does not need to be included right 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 nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look right ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like super payments no if however some infants 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 acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of move on 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 absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to kind of the level of complexity there's a growing number of advantages being organ or being offered by organizations throughout the world so again you're simply seeking 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'm sure but have you got any experience in kind of genuine challenges or genuine challenging sort of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any company has from an expense point of view from an effect point of view on employees it is absolutely vital 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 need to be done right it has the greatest harmful effect on people's well-being and many other factors if individuals aren't paid uh I've always been surprised entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem 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 properly so leveraging the very first Worldwide Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll service for your workers worldwide once again I believe is another substantial um process again lining up and ensuring you have standardization International procedures all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and checking account they need for their Global 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how important a role 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 involved in those processes and also so picture sorry I'm just I was just gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and kind of shot to return to everyone so proceeding appearance why do companies pick to main different savings account there are services out there doing exactly this for specific nations and I've operated in a company or numerous services doing exactly that I can state it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not developing extra work for anybody where we don't need to and anybody that's managing that process 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 think numerous reasons one is it's the requirement I think people have got so utilized to we need a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe 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 looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering however ultimately people are very stuck with what they're familiar
with ideal um change is a difficult thing we all don't like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having keeping multiple bank accounts however there's a huge amount of complexity chooses establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is big but I think the truthful answer is change um individuals haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be identified to be the next Century or two there is a lot to keep track of and this method does posture numerous obstacles um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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