Find out more about Papaya Global Payment After Leaving ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and trusted approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to worldwide employees regardless of the number of employees in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source local benefits companies in every nation, develop local accounts and have a minimum number of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs dispersed per area, total employment costs per cycle and a lot more.
Internationally, I have shown leadership and strategic competence in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll techniques, as discussed by Mark. My role involves handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent evening depending upon where you remain in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually type of had a variety of various functions on the company side and also on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another couple 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 rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I wish I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business keep separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a strategic possession 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.
Making sure accurate, efficient, and prompt payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and find how streamlining international payroll payments can change them from a difficult task into a strategic property.
Managing payroll internationally is a daunting task due to different regulations, compliance requirements, information security issues, and banking rules. The large variety of employees and organizations contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems typically result in manual processes, information silos, and a lack of combination, resulting in disparities and inefficiencies. Despite residing in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to supply insights and solutions to streamline and optimize worldwide payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of a photo they see an absence of exposure also encompasses payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of international services have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't need to be included right 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 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 have to pay from the customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely crucial but everywhere you look with payroll payment they are like very 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 between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is enabling us to kind of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation I would say no so why do we as a market 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 anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to add to sort of the level of complexity there's increasingly more benefits being organ or being used by businesses throughout the world so again you're just aiming to include increasingly more 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 however have you got any experience in kind of genuine challenges or genuine challenging kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding details into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost point of view from an effect point of view on employees it is definitely 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 detrimental effect on individuals's wellness and numerous other elements if people aren't paid uh I've constantly been surprised entering into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but eventually payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments first payroll payment option is a terrific first step um offering an end-to-end payroll solution for your employees worldwide once again I believe is another big um procedure again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to 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 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks
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 associated with those procedures and likewise so envision sorry I'm simply I was simply gon na say envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting 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 attempt to check out them and actually see what was going on and sort of shot to get back to everybody so moving on appearance why do business pick to primary separate savings account there are organizations out there doing exactly this for specific countries and I have actually operated in a company or lots of services doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anybody that's managing that procedure 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 believe many reasons one is it's the standard I think people have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs looking at it requires altering however ultimately people are extremely stuck with what they recognize
with ideal um modification is a difficult thing we all do not like change um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having keeping several bank accounts however there's a big quantity of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific individuals so the intricacy is huge however I believe the honest answer is modification um individuals haven't been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think 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 practically be figured out to be the next Century approximately there is a lot to monitor and this technique does present several obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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