Find out more about Papaya Global Auto Holidays Bank ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and dependable method of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Staff member Portal offers staff members with the ability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to international workers no matter the variety of workers in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every country, create local accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR encompass numerous functions such as monitoring getaway time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding goodbye to departing ones, using a safe and secure online platform for storing workers' documents, and supplying support for work permit procedures in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total employment expenses dispersed per location, overall work expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical knowledge in assisting large-scale populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for the majority of prominent business on the planet we supply payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon excellent night depending on where you are in the world it's lovely to meet 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 market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I've kind of had a range of various functions on the provider side and likewise on the vendor side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely gloomy and I want I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it streamlines the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical property for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Making sure precise, efficient, and timely payroll payments is a complex obstacle for organizations operating internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll costs to optimize working capital, and discover how simplifying international payroll payments can transform them from a challenging job into a strategic property.
Managing payroll worldwide is an overwhelming job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer variety of workers and services contributes to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems often result in manual processes, information silos, and an absence of combination, causing disparities and inadequacies. In spite of living in an era of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to supply insights and services to streamline and optimize worldwide payroll payments.
about it to give you an idea 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 gives me sleepless nights and rather frankly the more a company invests in global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide companies have revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors improperly interacted hires and terminations along with lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be included right and what does
it need to be considered 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they are like incredibly payments no if however some babies 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 believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to kind of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely crucial that payroll and finance groups work better together than ever um I'm always surprised when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 process it's the point of data collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of crucial to contribute to kind of the level of intricacy 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 increasingly more payments to this already complex landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine difficult sort of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more timely they make them less effective and they don't make them what they require 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 challenging as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any business has from an expense viewpoint from an effect viewpoint on employees it is definitely critical 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 have to be done right it has the greatest harmful impact on individuals's wellness and many other elements if people aren't paid uh I have actually constantly been astonished coming into this Market kind of the last five to ten years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just discover when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. For that reason, it is important to make sure that tasks like Wi-Fi Global and other essential matters are done properly. Using the very first Worldwide Payments very first payroll payment option is a great preliminary step towards offering an extensive payroll option for staff members worldwide. Standardization, international processes, and reducing the number of tools, platforms, and checking account essential for international payroll are crucial factors in accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how important 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 everybody that's associated with those processes and also so picture sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying 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 need days of the week to attempt to look through them and really see what was going on and sort of try to get back to everyone so proceeding appearance why do companies select to main different checking account there are companies out there doing precisely this for particular countries and I have actually worked in a business or many businesses doing precisely that I can say it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for anybody where we do not need to and anybody that's managing 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 lots of reasons one is it's the standard I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a range I believe this is a process that requires looking at it needs altering but ultimately individuals are really stuck to what they recognize
with right um change is a challenging thing we all don't like modification um so I believe it's just type 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 undoubtedly the benefits of having preserving several savings account however there's a big amount of intricacy opts for establishing a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is huge but I believe the truthful response is change um people have not had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century or so there is a lot to monitor and this technique does pose a number of challenges um so Johnny could you tell us about those difficulties yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you are worthy of a corner office with a better parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Aeo