Find out more about Papaya Global Process Leaver ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and reliable method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app enhances my payroll procedure, conserving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Employee Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive benefits bundles to global staff members no matter the number of employees in the business. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every nation, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total employment costs distributed per area, overall work costs per cycle and much more.
Worldwide, I have actually demonstrated management and strategic competence in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for many prominent companies in the world we offer payroll payments and labor force management to all worker types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good evening depending on where you remain in the world it's beautiful to fulfill 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 ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll viewpoint so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely gloomy and I want I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business maintain different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most importantly policies 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 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 consider that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there's typically an overwhelming variety of various systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large quantities and or really very fundamental there's no genuine consistency structure we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind whenever I I think
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 Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in global payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide organizations have 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 information entry errors poorly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the information is shipped to the incorrect location the typical cost of an international information 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 efficiently if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're making payments to employees or otherwise that's an excellent concern I always toss this back and state what is it what does not require to be consisted of ideal and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to sort of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry 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 any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on wellness and the settlement landscape is becoming progressively elaborate. Services are continually introducing new benefits and payment alternatives, which contributes to the general complexity. Big corporations typically divide their payroll and payment processing into different groups, which can result in inadequacies and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically sophisticated era, there's no justification for maintaining cumbersome procedures. Payroll, the business's most significant cost, need to be processed properly and on time. Even minor delays can negatively impact employees' wellness and have far-reaching consequences. Therefore, it's crucial to focus on accurate and timely payments.
payroll team get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us hear about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is a great initial step um supplying an end-to-end payroll service for your workers internationally again I think is another huge um procedure once again lining up and ensuring you have standardization International procedures all of those things are definitely essential to success success of services and decreasing the variety of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of 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 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyway 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 procedures and also so imagine sorry I'm simply I was just gon na say imagine 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 talking about numerous thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean 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 need days of the week to attempt to check out them and really see what was going on and sort of shot to return to everybody so moving on look why do companies pick to main separate bank accounts there are services out there doing precisely this for particular nations and I have actually worked in a business or lots of businesses 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 producing additional work for anybody where we don't need to and anyone that's managing that process 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 factors 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 functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering but eventually people are very stuck with what they're familiar
with ideal um change is a hard thing we all do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having keeping several savings account however there's a big quantity of complexity chooses establishing a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is big however I think the sincere response is modification um people haven't been able to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this approach does pose a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I 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 enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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