Find out more about Papaya Global Help Desk Number ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and trusted method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Website supplies staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to international staff members regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall employment expenses dispersed per area, total work costs per cycle and far more.
Internationally, I have actually demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 workers across 170 nations. Currently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for a lot of prominent companies in the world we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night 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've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a variety of various roles on the company side and likewise 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 everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or two 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 already 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 remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really very bleak and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business preserve different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how business accurately 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 enough in one nation however when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most importantly policies compliance data security and banking rules then there are the sheer numbers they include more complexity the global Labor force 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 currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll model there's typically an overwhelming number of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely extremely fundamental there's no real consistency framework we're residing 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 frequently with pen and paper and that just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a business spends on international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly communicated hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they depend on the needed several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint 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 good question I constantly throw this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment capabilities 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 any place you look ideal eventually constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like incredibly 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 definitely fundamental and innovation is enabling us to kind of move on with that it also too to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by services throughout the world so again you're simply seeking to include more and 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 however have you got any experience in kind of genuine challenges or real tough kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things but you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from a cost point of view from an effect point of view on employees it is definitely crucial that it's done correctly and on time so what we imply 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 harmful effect on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been astonished entering into this Market kind of the last five to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other crucial matters are done properly. Using the first Global Payments first payroll payment service is an excellent initial step towards supplying a detailed payroll solution for workers worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and bank accounts needed for international payroll are crucial consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few grievances when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we understand how how important 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 everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you notes 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 up all those up for sure oh absolutely I can't envision 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 really see what was going on and type of shot to return to everybody so proceeding look why do business select to main different savings account there are organizations out there doing precisely this for specific countries and I've operated in an organization or many organizations doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not developing extra work for any person where we don't have to and any person that's dealing with 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 think numerous factors one is it's the requirement I think people have got so utilized to we need a new bank 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 think it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires changing but eventually individuals are very stuck with what they're familiar
with right um change is a hard thing all of us do not like modification um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having preserving multiple bank accounts however there's a huge amount of intricacy opts for establishing a savings account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is substantial but I believe the truthful response is change um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to keep an eye on and this technique does present a number of challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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