Find out more about Papaya Global Report Designer ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and reliable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a considerable amount of time monthly. With its easy to use interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
The Employee Website supplies staff members with the capability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide staff members regardless of the variety of employees in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every country, develop local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment expenses distributed per location, total work expenses per cycle and far more.
Worldwide, I have actually shown leadership and strategic knowledge in guiding large-scale populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves handling and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, 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 a lot of prominent companies on the planet we supply payroll payments and workforce management to all staff member 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 good afternoon great night depending on where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I've sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really 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 really really uninspiring and I want 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 challenge years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different savings account 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 go over why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing accurate, effective, and timely payroll payments is a complex obstacle for companies operating worldwide. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can change them from a troublesome job into a strategic possession.
Handling payroll worldwide is a challenging task due to various regulations, compliance requirements, data security concerns, and banking rules. The large variety of workers and companies adds to the complexity, with an estimated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual procedures, data silos, and a lack of combination, resulting in inconsistencies and inadequacies. Regardless of living in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to provide insights and options to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a service spends on international payroll the less of a photo they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of international organizations have actually expressed that they don't 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 poor HCM data information entry errors improperly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they depend on the required numerous 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 difficulties business face when they're paying to workers or otherwise that's an excellent question I always toss this back and say what is it what does not need to be included best and what does
it require to be thought of there's varying Bank information 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 technology is enabling us to type of progress with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance groups work more detailed together than ever um I'm always astonished when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate 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 often split and cut up um ultimately 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 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 intricacy there's more and more benefits being organ or being offered by services throughout the world so once again you're just seeking to add a growing number of payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult kind of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an age that you understand that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from a cost point of view from an effect viewpoint on employees it is definitely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental effect on individuals's well-being and lots of other aspects if people aren't paid uh I've always been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people only observe when things fail. However, when things go right, it's seen as simply a regular task. This is how it's viewed externally as well. For that reason, it is essential to guarantee that tasks like Wi-Fi International and other vital matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment option is a great initial step towards offering an extensive payroll service for staff members worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and savings account needed for international payroll are key factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know how how important 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 simple as possible for everyone that's involved in those procedures and also so picture sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean all those up for sure oh definitely I can't envision 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 actually see what was going on and sort of shot to get back to everyone so moving on look why do business select to primary separate bank accounts there are companies out there doing exactly this for specific nations and I have actually operated in an organization or lots of services doing precisely that I can state it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for any person where we do not need to and any person that's dealing with 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 believe many factors one is it's the standard I believe people have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have actually 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 variety I think this is a procedure that requires taking a look at it needs changing but eventually individuals are really stuck with what they're familiar
with best um change is a tough thing all of us don't like change um so I believe it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the benefits of having keeping multiple savings account however there's a substantial amount of complexity goes with setting up a savings account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific people so the intricacy is big but I believe the truthful answer is modification um people haven't been able to change or have not had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could almost be figured out to be the next Century or two there is a lot to track and this approach does present a number of obstacles um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched 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 Global staff members you are worthy of a corner workplace with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global