Find out more about Papaya Global Time And Attendance ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Portal offers workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global helps business offer competitive advantages plans to international employees no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional benefits companies in every nation, produce local accounts and have a minimum number of staff members.
The HR capabilities offered by Worldwide HR encompass various functions such as monitoring getaway time, making sure compliance, facilitating the process of welcoming brand-new staff members and bidding goodbye to leaving ones, offering a secure online platform for storing workers' documents, and supplying support for work permit procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work costs dispersed per place, overall work expenses per cycle and much more.
Globally, I have actually shown management and strategic proficiency in guiding massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential business worldwide we supply payroll payments and labor force management to all staff member 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 great afternoon great night depending on where you are in the world it's lovely to fulfill 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 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 captivated by the intricacy the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I've sort of had a range of various functions on the company side and also on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join all of us 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 currently simply to hear where everyone is um it's nice to to type of like see where everybody originates from and I truly 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 very really 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 managing Global payroll why business preserve different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly useful for worldwide organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome job into a tactical property.
Handling payroll internationally is a challenging task due to different regulations, compliance requirements, information security concerns, and banking guidelines. The large number of staff members and services contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of integration, resulting in disparities and ineffectiveness. In spite of residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on international payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of worldwide businesses have expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes inadequately communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the information is delivered to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they rely on the essential several 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 obstacles business face when they're paying to staff members or otherwise that's a good question I always toss this back and state what is it what does not require to be consisted of ideal 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 amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look best eventually building a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 basic and technology is enabling us to sort of move on with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work better together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of data 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
world we live in and wellness being a growing number of essential to add to sort of the level of complexity there's increasingly more benefits being organ or being provided by businesses throughout the world so again you're simply seeking to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real tough kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any company has from an expense perspective from an effect perspective on employees it is definitely critical that it's done correctly 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 most significant destructive impact on people's wellness and numerous other factors if individuals aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has been told 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 staff members or not um however ultimately payroll is such an essential cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just 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 things is definitely essential that all of this things is done properly so leveraging the very first Global Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll service for your workers internationally once again I believe is another huge um process once again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of companies and reducing the number of tools platforms and savings account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
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 everybody that's involved in those procedures and also so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and in fact see what was going on and type of try to get back to everybody so carrying on look why do business select to primary separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually worked in a company or many companies doing exactly that I can state it does not constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for anyone where we do not need to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many reasons one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I believe this is a procedure that requires taking a look at it needs altering however ultimately people are really stuck with what they're familiar
with ideal um change is a challenging thing all of us do not like change um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having keeping numerous checking account but there's a substantial quantity of intricacy opts for establishing a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I think the sincere response is change um people have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we've constantly 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 know what might almost be figured out to be the next Century or so there is a lot to keep an eye on and this approach does present numerous challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved capability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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