Find out more about Papaya Global Instructions ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
Employee Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to international staff members despite the number of workers in the business. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every country, develop regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work expenses distributed per place, total employment expenses per cycle and much more.
Globally, I have actually shown leadership and strategic know-how in assisting massive populations of over 100,000 staff members across 170 nations. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
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 providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past 7 years. The complexities and challenges of this field have actually always captivated me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of different roles on the provider side and also on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 extremely gloomy and I wish I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why companies maintain different
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how improving international payroll payments can change them from a difficult task into a strategic property.
Managing payroll internationally is a complicated job due to numerous policies, compliance requirements, data security issues, and banking guidelines. The large number of workers and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and inefficiencies. In spite of residing in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide services have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the information is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a great question I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it need to be considered there's varying Bank information 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 need to pay from the client's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely important however all over you look with payroll payment they resemble super payments no if however some children 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 recognition that payroll payments are definitely fundamental and innovation is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely imperative that payroll and finance teams work closer together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more essential to contribute to sort of the level of intricacy there's more and more advantages being organ or being used by services across the world so again you're simply wanting to include increasingly more payments to this already intricate 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 real obstacles or genuine challenging sort of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and an era that you know that we are working in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single greatest liability that any service has from a cost perspective from an effect viewpoint on staff members it is absolutely vital 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 detrimental result on individuals's well-being and many other factors if individuals aren't paid uh I've always been amazed entering this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a terrific first step um providing an end-to-end payroll solution for your employees globally once again I believe is another huge um procedure again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of organizations and lowering the variety of tools platforms and savings account they need for their Worldwide 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 expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone rather where they're indicated to be um I do not think any of us are really doing that for for the thanks
anyway we understand 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 everyone that's involved in those processes and also so imagine sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean up 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 require days of the week to try to browse them and actually see what was going on and type of shot to return to everyone so proceeding look why do companies choose to main different bank accounts there are companies out there doing exactly this for particular countries and I've worked in a business or lots of businesses doing exactly that I can state it does not constantly feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anybody where we do not have to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think many factors one is it's the requirement I believe people have actually got so utilized to we require a new savings 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 believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I believe this is a process that needs taking a look at it needs altering but eventually individuals are extremely stuck to what they recognize
with right um change is a challenging thing all of us don't like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having maintaining multiple checking account however there's a substantial quantity of complexity goes with setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge however I think the sincere answer is modification um individuals haven't been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is understanding you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to monitor and this technique does present numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a variety 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 International workers you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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