Find out more about Papaya Global Articles ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This provides us with a protected and reputable approach 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
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global staff members despite the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every nation, develop local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall employment expenses distributed per location, total employment costs per cycle and far more.
Worldwide, I have shown leadership and tactical know-how in assisting large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My role involves managing and developing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for the majority of prominent companies in the world we supply payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great evening depending upon where you are in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually kind of had a variety of different functions on the company side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather intriguing 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 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 raining here it's very very uninspiring and I wish I was elsewhere at this moment in time alright so let's start 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 business preserve separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is especially beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping different checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a tactical possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they add more complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's typically an overwhelming number of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely very fundamental there's no real consistency framework we're residing in an age of tech however 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 believe
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a business invests in global payroll the less of a photo they see a lack of presence likewise extends to payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal nearly half of international organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they rely on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's a good concern I always toss this back and say what is it what doesn't need 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 country there's payment amount of time 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 complexity wherever you look best eventually constructing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is permitting us to type of move on with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to add to type of the level of complexity there's increasingly more benefits being organ or being offered by services across the world so once again you're just looking to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or real tough kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works 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 handling 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 require to create extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost perspective from an impact perspective on employees it is definitely vital that it's done properly 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 biggest damaging result on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been amazed entering this Market sort of the last five to ten years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's viewed externally as well. Therefore, it is essential to guarantee that jobs like Wi-Fi Worldwide and other vital matters are done correctly. Using the very first Worldwide Payments very first payroll payment option is a terrific preliminary step towards supplying a detailed payroll service for staff members worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and checking account required for international payroll are crucial factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyway we know how how essential 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 associated with those procedures and likewise so imagine sorry I'm just I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest 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 picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and actually see what was going on and type of try to return to everybody so carrying on appearance why do companies select to main different bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or lots of companies doing precisely that I can state it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have to and anybody that's handling 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 amount that we are I believe lots of factors one is it's the requirement I think people have actually got so utilized to we need a new bank 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 believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I believe this is a process that requires looking at it needs altering but eventually individuals are really stuck with what they're familiar
with ideal um change is a difficult thing we all don't like modification 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 great deal of track of things um I understand certainly the advantages of having maintaining multiple checking account however there's a big quantity of complexity chooses setting up a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is substantial however I think the honest answer is modification um people have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but 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 might practically be determined to be the next Century or so there is a lot to monitor and this approach does posture several obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply 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 Global workers you deserve a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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