Find out more about Papaya Global New Tax Year ... We now have the ability to handle both our payroll and payments processes 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 safe and dependable approach of paying to our 10,000 staff members worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Workers have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages plans to international employees regardless of the number of workers in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, produce local accounts and have a minimum variety of employees.
The HR abilities supplied by International HR include numerous functions such as keeping track of getaway time, ensuring compliance, helping with the process of inviting brand-new employees and bidding goodbye to departing ones, using a safe online platform for saving employees' documents, and supplying support for work permit procedures in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall employment costs distributed per area, overall employment expenses per cycle and much more.
Globally, I have actually demonstrated management and tactical expertise in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the company side and also on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 extremely really bleak and I want I was somewhere else at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies keep different
Virtual payroll accounts are an alternative to standard savings account for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of keeping different checking account for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most notably guidelines compliance data security and banking rules then there are the large numbers they add additional intricacy the global Workforce is currently three and a half billion people 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 services and growing all doing their own thing around the globe in the traditional payroll model there's frequently an overwhelming variety of different systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very extremely standard there's no real consistency structure we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors badly communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is shipped to the wrong place the typical expense of a global information 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 do not run smoothly if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments perspective 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 an excellent concern I constantly toss this back and say what is it what doesn't require to be included right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if but 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 acknowledgment that payroll payments are definitely essential and technology is permitting us to type of move on with that it also also to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing groups work closer together than ever um I'm always amazed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation 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 procedure it's the point of information collection all the way through to paying people anywhere they are but likewise 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 sort of the level of complexity there's increasingly more advantages being organ or being provided by organizations throughout the world so again you're just seeking to add more and more payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create additional handoffs while doing sos 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 an age of tech and a period 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 agreed and rightly 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 staff members it is absolutely crucial that it's done correctly 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 destructive impact on people's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been astonished entering into this Market kind of the last five to ten years is how little thanks the
The payroll team might not have 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 individuals just see when things fail. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. For that reason, it is necessary to make sure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the first International Payments first payroll payment service is a fantastic preliminary step towards providing an extensive payroll solution for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and savings account needed for global payroll are essential factors in achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyhow we know how how essential 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 associated with those processes and also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions think of getting that many 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 intriguing job attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of try to get back to everybody so proceeding appearance why do business choose to main different bank accounts there are businesses out there doing precisely this for specific countries and I've operated in a company or lots of organizations doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not have to and anyone that's dealing with 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 amount that we are I believe numerous factors one is it's the requirement I think people have got so used to we need a new savings account we open an entity and rightly so you require 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 standard and the standard the people have actually 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 lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it requires changing however eventually people are extremely stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like modification um so I think it's just 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 certainly the benefits of having keeping numerous bank accounts however there's a big amount of intricacy opts for setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific people so the intricacy is big however I think the sincere answer is change um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to monitor and this method does pose several difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a range 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 seems like our CFO has gotten another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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