Find out more about Papaya Global Training Online ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and trusted approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll process, saving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to international employees no matter the number of workers in the business. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every nation, develop local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment costs dispersed per location, overall work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic expertise in guiding large-scale populations of over 100,000 workers across 170 countries. Currently, I am responsible for supervising payroll techniques, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for most prominent companies on the planet we offer payroll payments and labor force management to all worker enters over 160 nations 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 good afternoon excellent evening depending on where you remain in the world it's charming to satisfy 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 industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I've type of had a range of different roles on the supplier side and likewise on the supplier side from a payroll perspective so actually looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind 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 kind of like see where everyone 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 raining here it's very extremely dreary and I want I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to standard savings account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll expenses to enhance working capital, and discover how streamlining worldwide payroll payments can change them from a challenging job into a tactical property.
Handling payroll globally is an overwhelming job due to various policies, compliance requirements, information security concerns, and banking rules. The sheer number of staff members and companies contributes to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently lead to manual procedures, information silos, and an absence of combination, causing disparities and inefficiencies. In spite of residing in a period of technological developments, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to offer insights and solutions to streamline and optimize global payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of global companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes poorly communicated hires and terminations along with absence management and system configurations and then when you round it all off and the data is shipped to the wrong location the typical cost of an international data 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 processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's an excellent question I always throw this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to add to type of the level of complexity there's a growing number of advantages being organ or being used by organizations across the world so once again you're just looking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine difficult type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to develop extra handoffs in the processes 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 a period 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 rightly as you said payroll is the single biggest liability that any service has from a cost perspective from an effect perspective on staff members it is definitely critical that it's done properly and on time so what we mean 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 damaging result on individuals's wellness and many other factors if individuals aren't paid uh I've always been surprised coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however 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 stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first International Payments first payroll payment option is a terrific primary step um offering an end-to-end payroll service for your employees globally again I believe is another big um process again aligning and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and savings account they require for their International payroll too could not 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 thousand of 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 complaints where things have not gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know how how essential a function it is which'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 likewise so envision sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task 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 browse them and actually see what was going on and type of try to return to everyone so carrying on appearance why do business select to main separate savings account there are organizations out there doing exactly this for specific countries and I've operated in an organization or many businesses doing exactly that I can state it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't have to and any person that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the standard I think individuals have got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a process that needs taking a look at it needs changing however ultimately people are really stuck to what they recognize
with best um change is a hard thing we all do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having keeping multiple savings account however there's a big quantity of intricacy goes with establishing a bank account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for specific people so the complexity is huge however I think the sincere answer is change um people haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to keep track of and this approach does present a number of obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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