Find out more about Papaya Global Burlington Vt ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Worker Portal supplies staff members with the capability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to worldwide employees despite the number of staff members in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source regional benefits suppliers in every country, produce regional accounts and have a minimum variety of employees.
The HR abilities provided by International HR encompass various functions such as keeping track of vacation time, guaranteeing compliance, helping with the procedure of welcoming new staff members and bidding goodbye to leaving ones, offering a safe and secure online platform for saving workers' documents, and providing support for work allow treatments in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work expenses dispersed per place, overall employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 employees across 170 countries. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's an enjoyment to meet 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 decade of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a range of different functions on the provider side and also on the supplier side from a payroll perspective so really anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 very extremely bleak and I wish 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 handling Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to traditional bank accounts for managing payroll payments. This is particularly beneficial for global organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance information security and banking guidelines then there are the large numbers they include additional intricacy the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely really standard there's no real consistency framework we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of international businesses have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors poorly 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 place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as 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 essential multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles company face when they're paying to employees or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be consisted of right 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 capabilities 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 client's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort 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 progress with that it also as well to contribute to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually 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 but also paying statutory authorities and on statutory third parties so with the
The contemporary world places a high value on wellness and the payment landscape is ending up being increasingly intricate. Businesses are continuously presenting new advantages and payment choices, which contributes to the general intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to be the case. In today's technologically sophisticated era, there's no justification for maintaining troublesome procedures. Payroll, the company's biggest expense, need to be processed correctly and on time. Even small hold-ups can adversely impact workers' well-being and have far-reaching effects. Therefore, it's vital to focus on accurate and timely payments.
payroll team get um so I'm uncertain anybody on this sort of webinar has 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 but ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 crucial that all of this things is done properly so leveraging the very first International Payments first payroll payment solution is an excellent first step um providing an end-to-end payroll option for your employees worldwide again I believe is another huge um process once again lining up and ensuring you have standardization Global processes all of those things are definitely key to success success of companies and minimizing 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 terms of 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 10 or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I don't think any of us are really 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions imagine getting that lots of 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 interesting job trying 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 browse them and actually see what was going on and kind of try to return to everybody so moving on look why do business select to main different bank accounts there are companies out there doing precisely this for specific nations and I've operated in a business or many organizations doing exactly that I can say it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anyone where we don't have to and anyone that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think many reasons one is it's the requirement I believe individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a process that needs taking a look at it requires changing however eventually individuals are extremely stuck to what they're familiar
with right um change is a difficult thing we all don't like change um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having maintaining numerous savings account but there's a big amount of intricacy chooses setting up a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big however I believe the truthful response is change um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is understanding you know 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 benefits and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century or two there is a lot to track and this approach does present numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I simply did you switched 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 workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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