Find out more about Papaya Global Holiday Pay ... 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 gotten a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and trustworthy technique of paying to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app enhances my payroll procedure, conserving me a significant amount of time every month. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Worker Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies use competitive advantages plans to global staff members despite the variety of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits companies in every nation, create local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work expenses distributed per area, total work expenses per cycle and a lot more.
Internationally, I have demonstrated management and strategic knowledge in directing massive populations of over 100,000 employees across 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role involves managing and developing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As an international company, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a satisfaction to satisfy 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 years of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've sort of had a variety of different roles on the service provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 drizzling here it's really very uninspiring and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the international Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals 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 worldwide in the standard payroll model there's frequently a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or really very fundamental there's no real consistency structure we're residing in a period of tech however payroll has 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 simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 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 worldwide payroll the less of an image they see an absence of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of international businesses have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes improperly interacted hires and terminations along with absence management and system configurations and after that when you round it all off and the information is delivered to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they rely on the necessary numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be consisted of ideal 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 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 have to pay from the customer's own in-country account so there's complexity wherever you look ideal 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 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 essential and technology is enabling us to type of move on with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly impressed when individuals state I've split 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 split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to kind of the level of complexity there's increasingly more advantages being organ or being offered by businesses throughout the world so again you're just seeking to include increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine challenges or real challenging kind of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of years I would certainly say that the bigger a service 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 really handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require 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 simply make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and an age that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense viewpoint from an effect point of view on workers it is definitely 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 need to be done right it has the greatest damaging effect on people's wellness and lots of other elements if people aren't paid uh I've constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only notice when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. Therefore, it is essential to ensure that jobs like Wi-Fi Global and other important matters are done correctly. Using the first Worldwide Payments very first payroll payment solution is a terrific preliminary step towards offering a comprehensive payroll option for staff members worldwide. Standardization, international procedures, and reducing the variety of tools, platforms, and bank accounts needed for global payroll are essential factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of complaints when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we know how how important a role 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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean up 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 really see what was going on and sort of try to get back to everybody so proceeding look why do business select to primary different checking account there are companies out there doing precisely this for particular nations and I've worked in an organization or numerous companies doing exactly that I can state it does not always feel effective and it does create more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not have to and anyone that's managing 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 think many factors one is it's the requirement I believe individuals have actually got so used to we need a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs altering however eventually individuals are extremely stuck to what they recognize
with ideal um change is a tough thing all of us do not like modification um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving several bank accounts but there's a substantial quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is huge however I think the honest answer is modification um people haven't been able to change or haven't had always the knowledge to really 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 knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be identified to be the next Century approximately there is a lot to keep an eye on and this technique does pose numerous challenges um so Johnny could you tell us about those challenges yeah of course so there's a range right there is so
I just did you switched 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 employees you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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