Find out more about Papaya Global Packages ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and dependable technique of paying to our 10,000 employees worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, saving me a substantial quantity of time each month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Worker Website offers workers with the capability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to international staff members regardless of the number of staff members in the business. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, produce local accounts and have a minimum number of workers.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses dispersed per area, overall work costs per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and strategic competence in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll techniques, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for many prominent business in the world we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending upon where you are in the world it's lovely to satisfy 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 have actually been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone 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 rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it is 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 extremely very gloomy and I want I was somewhere else at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to conventional checking account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise provide a recap 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 throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance information security and banking guidelines then there are the large numbers they add more complexity 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 people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll model there's often a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very very fundamental there's no real consistency structure we're residing in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a company invests in worldwide payroll the less of an image they see an absence of presence also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run efficiently if they rely on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're paying to workers or otherwise that's a good concern I constantly 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 time frames 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 complexity anywhere you look best eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like super 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 definitely fundamental and technology is enabling us to type of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm always astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the compensation landscape is ending up being progressively detailed. Businesses are constantly introducing brand-new benefits and payment choices, which adds to the overall complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically advanced period, there's no validation for maintaining cumbersome treatments. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even slight delays can adversely impact staff members' well-being and have significant repercussions. For that reason, it's crucial to focus on precise and timely payments.
payroll team get um so I'm unsure anybody on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such an essential cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise 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 stuff is absolutely essential that all of this things is done correctly so leveraging the very first International Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your staff members internationally once again I think is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of services and decreasing the number of tools platforms and bank accounts they need for their International 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've never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we understand 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 easy as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and sort of try to return to everyone so carrying on appearance why do companies pick to primary separate savings account there are businesses out there doing precisely this for particular nations and I've worked in an organization or lots of organizations doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not need to and anybody that's managing that process I 'd be interested to hear your thoughts 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 individuals have got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions 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 the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a process that needs taking a look at it requires altering however eventually people are very stuck to what they recognize
with right um change is a hard thing all of us do not like change um so I believe it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having keeping several checking account however there's a huge quantity of complexity chooses establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is huge however I think the truthful response is modification um individuals haven't had the ability to change or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might almost be figured out to be the next Century or so there is a lot to monitor and this technique does posture a number of challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved 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 should have a corner office with a parking space that is better, considering your achievements.
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