Find out more about Papaya Global And Accounts Packages ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll procedure, saving me a significant amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive benefits bundles to worldwide workers regardless of the variety of workers in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages providers in every nation, produce local accounts and have a minimum number of workers.
The HR abilities supplied by International HR incorporate various functions such as monitoring getaway time, making sure compliance, helping with the procedure of inviting brand-new workers and bidding farewell to leaving ones, providing a protected online platform for keeping workers' documents, and providing assistance for work allow treatments in case your staff members require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work expenses distributed per place, overall work costs per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical knowledge in assisting large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for supervising payroll methods, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
company to make the time 100 list for the majority of influential companies worldwide we supply payroll payments and labor force management to all staff member key ins 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 introduce yourself naturally thank you good morning good afternoon good night depending upon where you remain in the world it's beautiful to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a variety of various roles on the supplier side and also on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone 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 is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really bleak and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why business maintain separate
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a strategic possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance information security and banking rules then there are the large numbers they add further intricacy the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll model there's often an overwhelming variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or very very standard there's no real consistency framework we're residing in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see a lack of exposure likewise reaches 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 revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the data is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good question I always throw this back and state what is it what does not require to be consisted of ideal and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look ideal ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if however some children 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 recognition that payroll payments are absolutely basic and innovation is enabling us to sort of move forward with that it also also to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market 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 individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more important to contribute to kind of the level of intricacy there's increasingly more advantages being organ or being used by businesses throughout the world so again you're simply aiming to add a growing number of payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or real difficult sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost point of view from an effect perspective on workers it is definitely critical 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 need to be done right it has the most significant harmful impact on people's well-being and lots of other aspects if people aren't paid uh I've constantly been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial 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 workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific primary step um offering an end-to-end payroll option for your employees worldwide once again I believe is another substantial um procedure again lining up and ensuring you have standardization International processes all of those things are definitely key to success success of organizations and minimizing the variety of tools platforms and savings account they require for their Global payroll too could not 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 thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyway we know how how essential a role 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 think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and really see what was going on and type of shot to return to everyone so moving on look why do companies pick to primary different bank accounts there are services out there doing precisely this for particular countries and I've operated in a business or lots of services doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not 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 believe lots of reasons one is it's the standard I believe people have got so utilized to we require a brand-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 just been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals 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 range I believe this is a procedure that requires looking at it needs altering but ultimately people are very stuck with what they recognize
with right um change is a difficult thing we all do not like modification um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the benefits of having maintaining numerous checking account however there's a substantial quantity of intricacy goes with setting up a checking account preserving it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is huge but I believe the honest answer is modification um people haven't been able to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've constantly 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 almost be determined to be the next Century or two there is a lot to monitor and this method does position numerous obstacles um so Johnny could you tell us about those difficulties yeah obviously so there's a range right there is so
I just did you switched our Enterprise 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 deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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