Find out more about Papaya Global Bacs Standard 18 ... We now have the capability to handle both our payroll and payments procedures 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 provides us with a secure and trustworthy method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app enhances my payroll process, conserving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Portal
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to international workers no matter the variety of workers in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every country, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment costs dispersed per area, overall employment costs per cycle and much more.
Worldwide, I have actually shown leadership and tactical knowledge in assisting large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for a lot of influential business on the planet we supply payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending upon where you are in the world it's charming 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 been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 raining here it's extremely really uninspiring and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it streamlines the complex process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic property 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.
Ensuring precise, effective, and prompt payroll payments is a complex obstacle for companies running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies forecast payroll expenses to enhance working capital, and discover how improving international payroll payments can transform them from a challenging task into a tactical property.
Managing payroll worldwide is a complicated task due to different policies, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and organizations adds to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically result in manual procedures, data silos, and an absence of combination, causing inconsistencies and inadequacies. Despite residing in an era of technological developments, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to offer insights and options to simplify and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a picture they see a lack of presence also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide services have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations along with lack management and system setups and after that when you round everything off and the information is shipped to the incorrect location the typical cost of an international data 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 efficiently if they count on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be consisted of right and what does
it require to be considered there's varying Bank details 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 consumer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely important however 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 take a look at the kind 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 technology is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and financing teams work more detailed together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 often 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 individuals wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to contribute to type of the level of complexity there's a growing number of advantages being organ or being offered by businesses across the world so once again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real obstacles or real challenging kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a couple of years I would absolutely state 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 job there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we operate in they just make them more prompt 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 requires to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from an expense point of view from an impact perspective on employees it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive result on people's wellness and many other aspects if individuals aren't paid uh I have actually always been surprised entering into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a terrific initial step um supplying an end-to-end payroll option for your workers worldwide again I think is another huge um process once again aligning and guaranteeing you have standardization Global processes all of those things are definitely crucial to success success of companies and lowering the variety of tools platforms and bank accounts they need for their International 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how important 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 picture sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting task attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and type of try to get back to everybody so moving on look why do companies pick to primary separate checking account there are services out there doing precisely this for particular countries and I have actually operated in a service or numerous organizations doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and anybody that's dealing with 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 many reasons one is it's the standard I think people have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions 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 embraced and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it needs altering but ultimately individuals are really stuck to what they recognize
with right um change is a difficult thing we all do not like modification um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping several bank accounts but there's a substantial amount of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for specific people so the complexity is substantial however I think the truthful answer is modification um individuals haven't been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we've always 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 might practically be identified to be the next Century approximately there is a lot to monitor and this technique does present numerous difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I just 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 International workers you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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