Find out more about Papaya Global Attachment Of Earnings Order ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and trustworthy approach of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to global employees regardless of the number of staff members in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every country, develop regional accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, overall employment expenses distributed per location, total work costs per cycle and far more.
Globally, I have actually demonstrated leadership and tactical know-how in directing large-scale populations of over 100,000 employees across 170 countries. Presently, I are accountable for managing payroll techniques, as discussed by Mark. My role includes handling and establishing external partnerships, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I have actually type of had a range of different functions on the company side and likewise on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody 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 fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I want I was somewhere else 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 challenge years of managing International payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional savings account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different checking account for payroll in various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset 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 complex for a range of factors most importantly guidelines compliance data security and banking guidelines then there are the large numbers they add more complexity the worldwide Workforce is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll design there's often an overwhelming number of different systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in large quantities and or very very basic there's no real consistency structure we're residing in an age of tech however payroll has actually been slow 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 each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with lack management and system setups and then when you round everything off and the information is delivered to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a great concern I always toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is enabling us to sort of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely imperative that payroll and finance groups work more detailed together than ever um I'm always surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate 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 information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is ending up being increasingly elaborate. Services are continually presenting brand-new advantages and payment alternatives, which adds to the overall intricacy. Large corporations often divide their payroll and payment processing into different teams, which can lead to inefficiencies and bottlenecks. In my opinion, this does not have to be the case. In today's highly sophisticated age, there's no justification for keeping cumbersome treatments. Payroll, the company's greatest expenditure, should be processed properly and on time. Even minor delays can negatively affect employees' wellness and have significant consequences. Therefore, it's critical to focus on precise and prompt payments.
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle all of us hear about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe 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 definitely important that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment option is an excellent initial step um offering an end-to-end payroll service for your employees internationally once again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of businesses and decreasing the number of tools platforms and bank accounts they need for their Worldwide 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 do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite 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 crucial a role 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 processes and also so envision sorry I'm just I was simply gon na state picture the amount 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 possibly Millions imagine getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing 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 require days of the week to attempt to look through them and actually see what was going on and type of shot to get back to everyone so carrying on look why do business select to primary separate checking account there are businesses out there doing precisely this for specific nations and I've operated in a business or numerous businesses doing exactly that I can say it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we don't need to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I think individuals have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a procedure that needs looking at it needs changing but ultimately individuals are extremely stuck to what they recognize
with right um change is a hard thing we all do not like modification um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping several savings account however there's a huge amount of intricacy chooses establishing a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is huge but I believe the honest response is change um individuals haven't been able to alter or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this technique does position numerous challenges um so Johnny might you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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