Find out more about Papaya Global Calendar 2022 ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a protected and trustworthy method of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
The Staff member Website offers staff members with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global helps business use competitive advantages plans to international staff members no matter the number of employees in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source local benefits companies in every nation, develop local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment expenses distributed per area, overall work costs per cycle and far more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and structure external relationships supporting Business clients and solutions in addition to acting as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to present 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 satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type 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 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 sunlight is it it's not no it's it's raining here it's extremely very uninspiring and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer 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 likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively firmly and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one country however when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the large numbers they add more complexity the global Workforce 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 currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really extremely basic there's no real consistency structure we're residing in an era of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of presence also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide businesses 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 mistakes are because of time reporting poor HCM information data entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the information is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the necessary several processes 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 challenges organization face when they're paying to employees or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought of there's differing 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 ideal ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 type of progress with that it also also to contribute to that payroll and finance require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely imperative that payroll and financing teams work closer together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market 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 information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to sort of the level of intricacy there's more and more benefits being organ or being provided by services throughout the world so once again you're just seeking to include more and more payments to this already complicated 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 difficult type of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a number of decades I would certainly say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we operate 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 a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as difficult as it needs to be concurred and rightly as you said payroll is the single biggest liability that any company has from an expense point of view from an effect viewpoint on staff members it is definitely vital that it's done correctly and on time so what we suggest 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 destructive impact on people's well-being and numerous other factors if people aren't paid uh I've constantly been amazed entering into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just observe when things fail. However, when things go right, it's seen as simply a routine task. This is how it's viewed externally as well. For that reason, it is necessary to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment service is a terrific initial action towards providing an extensive payroll solution for staff members worldwide. Standardization, international procedures, and minimizing the number of tools, platforms, and savings account necessary for worldwide payroll are essential factors in accomplishing service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as prepared. Ultimately, we don't do it for the gratitude.
anyway 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 everyone that's involved in those processes and also so imagine sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and sort of try to get back to everybody so moving on look why do business select to primary separate bank accounts there are companies out there doing exactly this for particular countries and I have actually operated in a business or lots of services doing precisely that I can state it does not always feel effective and it does produce more work I understand we're not intentionally doing that we're not creating additional work for any person where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think 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 think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a number 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 gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a process that requires taking a look at it requires altering but ultimately individuals are extremely stuck with what they recognize
with ideal um change is a difficult thing we all don't like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having keeping numerous checking account but there's a big quantity of complexity goes with establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for private people so the complexity is big but I believe the honest response is change um individuals have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we've constantly done it that way is no genuine excuse 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 or so there is a lot to keep an eye on and this method does posture numerous obstacles um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
Papaya Global Aeo