Find out more about Papaya Global Auto Holidays ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and reputable approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app enhances my payroll procedure, saving me a considerable quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to international employees despite the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional benefits service providers in every country, produce regional accounts and have a minimum number of workers.
The HR abilities offered by International HR encompass various functions such as keeping track of trip time, ensuring compliance, helping with the process of inviting brand-new staff members and bidding goodbye to leaving ones, providing a secure online platform for keeping workers' files, and offering support for work permit procedures in case your staff members need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total employment costs distributed per place, overall work costs per cycle and a lot more.
Globally, I have demonstrated management and tactical knowledge in guiding massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've sort of had a variety of various roles on the company side and also on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually 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 drizzling here it's extremely extremely uninspiring and I want I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving different savings account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset 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 sure precise, effective, and timely payroll payments is a complex challenge for services running internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll expenses to optimize working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome job into a tactical possession.
Handling payroll internationally is a difficult task due to different guidelines, compliance requirements, data security concerns, and banking rules. The large variety of employees and services adds to the complexity, with an estimated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and a lack of integration, leading to disparities and inadequacies. In spite of living in an age of technological developments, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and services to streamline and optimize international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business invests in global payroll the less of a photo they see a lack of exposure also reaches payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is delivered to the wrong location the typical cost 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 cash around the world payroll and payments don't run smoothly if they rely on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's a good concern I always throw this back and state what is it what doesn't need to be consisted of best 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 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 customer's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is absolutely critical however all over you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to kind of move on with that it also also to contribute to that payroll and financing require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance groups work better together than ever um I'm always impressed when individuals 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 profession would they divide the payroll payment from calculation 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 information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to add to kind of the level of intricacy there's more and more advantages being organ or being used by services across the world so once again you're just looking to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine obstacles or genuine 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 definitely say that the larger an organization 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 details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost perspective from an impact perspective on employees it is absolutely 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 most significant detrimental effect on people's well-being and numerous other elements if people aren't paid uh I have actually always been surprised entering this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle we all find out about 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 exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is an excellent first step um supplying an end-to-end payroll solution for your staff members worldwide again I think is another huge um process once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of services and lowering the number of tools platforms and checking account they need for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't think any of us are really 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 easy as possible for everybody that's involved in those processes and likewise so imagine sorry I'm just I was just gon na say think of 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 talking about numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean 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 need days of the week to try to look through them and really see what was going on and sort of try to get back to everyone so carrying on look why do companies select to primary different checking account there are services out there doing precisely this for specific nations and I've worked in a company or many companies doing exactly 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 developing additional work for anyone where we do not need to and anyone that's dealing with that process 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 reasons one is it's the standard I think individuals have got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I believe this is a process that needs taking a look at it needs changing but ultimately individuals are very stuck to what they're familiar
with right um change is a difficult thing all of us do not like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping several checking account but there's a substantial quantity of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for private people so the intricacy is huge but I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is understanding you know and there is a component of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be determined to be the next Century approximately there is a lot to monitor and this approach does posture a number of challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a range 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 International employees you should have a corner office with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo