Find out more about Papaya Global Authentication Failure ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Portal supplies staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages packages to global employees no matter the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source regional benefits providers in every nation, develop regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR encompass different functions such as keeping track of holiday time, guaranteeing compliance, assisting in the process of welcoming new workers and bidding farewell to leaving ones, offering a safe and secure online platform for storing workers' documents, and providing assistance for work allow treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, total employment costs distributed per location, overall work expenses per cycle and a lot more.
Worldwide, I have actually shown management and tactical knowledge in directing large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My function 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 company.
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've sort of had a range of different functions on the supplier side and likewise on the supplier side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds approximately 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 currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it is 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 very gloomy and I wish I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies maintain different
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various countries, virtual accounts and digital wallets provide a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the sheer numbers they include more intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 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 number of various systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely extremely fundamental there's no genuine consistency structure we're residing in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every 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 organizations state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on worldwide payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international businesses have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes poorly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the needed numerous procedures 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 difficulties service face when they're paying to workers or otherwise that's a good question I always toss this back and state what is it what doesn't require to be included ideal and what does
it require to be thought of there's differing Bank details 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy wherever you look right eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to type of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals state I've split 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 calculation 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 procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to sort of the level of intricacy there's increasingly more advantages being organ or being offered by services throughout the world so again you're simply looking to include a growing number of payments to this already complex landscape so if you sort 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 genuine difficulties or genuine tough kind of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from a cost perspective from an impact perspective on staff members it is absolutely important that it's done correctly 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 detrimental effect on people's well-being and lots of other elements if people aren't paid uh I have actually constantly been impressed coming into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all become aware of it when it goes wrong 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment solution is a fantastic first step um offering an end-to-end payroll service for your employees internationally once again I believe is another big um process again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of organizations and lowering the variety of tools platforms and checking account they need 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 ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyway we understand 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 everyone that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and sort of try to return to everyone so proceeding look why do business pick to primary different checking account there are businesses out there doing precisely this for specific countries and I've worked in a service or many services doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anyone where we don't have to and anybody 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 amount that we are I think lots of factors one is it's the requirement I think people have got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires altering but eventually people are very stuck to what they recognize
with right um modification is a hard thing we all don't like change um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having preserving multiple savings account however there's a big quantity of complexity opts for setting up a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the intricacy is big however I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually 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 so there is a lot to keep track of and this approach does pose a number of challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you deserve a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo