Find out more about Papaya Global Level 1 ... We now have the capability to handle 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 committed to managing payments. This offers us with a safe and secure and reputable method of paying to our 10,000 staff members worldwide.}
The innovative global payroll management app streamlines my payroll process, conserving me a significant amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
The Worker Website offers employees with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to global workers no matter the variety of staff members in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every country, produce regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment expenses distributed per place, overall work expenses per cycle and much more.
Globally, I have demonstrated leadership and strategic proficiency in directing large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent night depending upon where you remain in the world it's charming to meet 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 been in the payments market for over ten years and specifically working on the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of various functions on the provider side and also on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing 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 everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely bleak and I wish I was somewhere else at this moment in time all right 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 business keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise go over a wrap-up which needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of typical and handling them ends up being more and more complicated Global organizations are wanting to discover Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment perspective lots of companies maintain separate checking account just for payroll while some have several accounts in various nations does it make good sense for business to keep different savings account often in various nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international business simplify the episode complex processes of
Ensuring accurate, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll expenses to enhance working capital, and discover how enhancing global payroll payments can change them from a burdensome job into a tactical property.
Managing payroll internationally is an overwhelming job due to various policies, compliance requirements, information security issues, and banking guidelines. The large variety of staff members and services contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in disparities and inefficiencies. Despite residing in an age of technological improvements, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to supply insights and services to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of a picture they see a lack of visibility also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of worldwide companies have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM information data entry errors inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round all of it off and the data is shipped to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they depend on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't need 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 nation there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely critical however all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to type of progress with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work better together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide 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 eventually 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 a growing number of important to contribute to kind of the level of intricacy there's increasingly more benefits being organ or being used by services throughout the world so once again you're just looking to include a growing number of payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or real challenging sort of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information 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 doesn't always need to be the case you understand long gone are the times where we need to produce additional handoffs in the processes that we operate 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 understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from an expense point of view from an effect viewpoint on employees it is definitely critical 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 destructive impact on people's wellness and many other aspects if people aren't paid uh I've always been surprised entering this Market type of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally also. For that reason, it is vital to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first Worldwide Payments first payroll payment solution is a fantastic initial step towards offering a comprehensive payroll solution for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account needed for worldwide payroll are essential factors in attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we do not do it for the thankfulness.
anyway we understand how how essential 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 easy as possible for everyone that's associated with those procedures and also so think of sorry I'm simply I was just gon na say envision 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 think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and really see what was going on and kind of try to return to everyone so moving on look why do companies pick to primary separate bank accounts there are businesses out there doing exactly this for specific nations and I have actually worked in a company or numerous companies doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have to and anyone that's handling that procedure 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 many reasons one is it's the requirement I think individuals have actually got so used to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that individuals have taken a look 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 process that needs taking a look at it requires changing but ultimately people are extremely stuck with what they're familiar
with right um modification is a hard thing we all don't like change um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping numerous checking account but there's a huge quantity of complexity chooses establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the complexity is substantial but I think the honest response is modification um people have not had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be identified to be the next Century or so there is a lot to keep an eye on and this approach does present numerous difficulties um so Johnny could you inform us about those challenges 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 tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your achievements.
Nominal Link Settings Papaya Global