Find out more about Papaya Global Timesheets ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and dependable method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Staff member Portal supplies employees with the capability to access and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to global employees regardless of the number of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, develop regional accounts and have a minimum number of workers.
The HR capabilities offered by Global HR include different functions such as keeping an eye on vacation time, making sure compliance, assisting in the procedure of welcoming new workers and bidding farewell to leaving ones, using a secure online platform for storing workers' files, and providing assistance for work permit treatments in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment expenses dispersed per area, total employment costs per cycle and far more.
Internationally, I have actually shown management and tactical competence in guiding large-scale populations of over 100,000 staff members across 170 nations. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The complexities and challenges of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I've kind of had a variety of different roles on the company side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really gloomy and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies maintain different
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most importantly guidelines compliance data security and banking rules then there are the large numbers they include further complexity the international Labor force is presently 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 presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll model there's typically an overwhelming variety of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely really standard there's no genuine consistency framework 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 businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business spends on worldwide payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international organizations have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes inadequately interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is shipped to the incorrect place the average cost 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 worldwide payroll and payments do not run smoothly if they count on the required 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 organization face when they're making payments to workers or otherwise that's an excellent concern I always throw this back and say what is it what doesn't need to be included right and what does
it require to be thought of 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 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 wherever you look right ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 fundamental and technology is allowing us to kind of move on with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly astonished when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation 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 process 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 third parties so with the
world we reside in and well-being being a growing number of crucial to add to kind of the level of complexity there's more and more benefits being organ or being offered by services throughout the world so once again you're just aiming to add increasingly more payments to this currently complex 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 real obstacles or real difficult type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates 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 however you know in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we operate in they just make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost viewpoint from an impact point of view on staff members it is absolutely vital 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 have to be done right it has the most significant damaging result on individuals's wellness and numerous other aspects if individuals aren't paid uh I've constantly been amazed entering this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally too. For that reason, it is essential to guarantee that jobs like Wi-Fi Global and other crucial matters are done correctly. Using the very first Worldwide Payments very first payroll payment solution is a fantastic initial action towards providing an extensive payroll service for staff members worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and bank accounts essential for international payroll are essential consider achieving business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyhow 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm simply I was simply 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 talking about hundreds of thousands possibly Millions imagine getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting to clean all those up for sure oh definitely 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 try to check out them and actually see what was going on and sort of shot to get back to everyone so proceeding appearance why do companies select to primary different checking account there are companies out there doing exactly this for specific countries and I have actually worked in a service or lots of companies doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we don't have to and anybody that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the standard I think people have actually got so utilized to we require a brand-new bank 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 believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately individuals are extremely stuck with what they're familiar
with ideal um change is a difficult thing all of us do not like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving several savings account but there's a big amount of intricacy chooses setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual people so the intricacy is substantial however I believe the sincere answer is modification um people haven't had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century or two there is a lot to keep an eye on and this approach does pose several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
Nominal Link Settings Papaya Global