Find out more about Papaya Global Problems ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and reliable method of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Employee Portal offers staff members with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to global workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every country, produce regional accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total employment costs distributed per area, overall work costs per cycle and far more.
Globally, I have actually shown leadership and strategic competence in directing massive populations of over 100,000 workers across 170 nations. Currently, I am responsible for managing payroll strategies, as pointed out by Mark. My role includes managing and establishing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for the majority of influential companies in the world we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending on where you remain in the world it's lovely to fulfill 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 remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really 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 drizzling here it's really extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance information security and banking guidelines then there are the large numbers they include further complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll design there's frequently a frustrating variety of different systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or very really fundamental there's no genuine consistency structure we're residing in a period of tech but payroll has been slow 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 each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more a business invests in worldwide payroll the less of a picture they see an absence of exposure also encompasses payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global businesses 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 poor HCM information data entry errors improperly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is delivered to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they count on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're making payments to employees or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be consisted of right 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 country 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 consumer's own in-country account so there's complexity any place you look ideal eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to type of progress with that it likewise too to add to that payroll and finance require to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals state I have actually 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 an industry accept that why our payroll and payments so frequently 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to add to sort of the level of intricacy there's more and more benefits being organ or being used by businesses throughout the world so again you're just looking to add more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or genuine challenging sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things however you understand 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 create extra handoffs at the same times 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 a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any business has from an expense viewpoint from an impact point of view on workers it is absolutely important that it's done properly and on time so what we indicate 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 impact on people's well-being and lots of other factors if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anybody on this type of webinar has actually been informed thank you for processing my payroll correctly 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 eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply 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 vital that all of this things is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific initial step um supplying an end-to-end payroll option for your employees globally once again I believe is another big um process again aligning and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of businesses and decreasing the variety of tools platforms and bank accounts they need 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how crucial a function 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 associated with those processes and likewise so imagine sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely 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 attempt to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on appearance why do business choose to main different savings account there are companies out there doing precisely this for specific countries and I have actually operated in a business or lots of businesses doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not developing additional work for anyone where we do not need to and anybody that's handling 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 numerous reasons one is it's the standard I think individuals have actually got so utilized to we require a new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a process that needs looking at it requires changing however ultimately people are extremely stuck to what they're familiar
with ideal um modification is a hard thing we all do not like modification um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining numerous savings account but there's a substantial quantity of complexity chooses establishing a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is substantial however I think the truthful answer is change um individuals have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century or so there is a lot to track and this method does position several challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I simply 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 staff members you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global