Find out more about Papaya Global Certification Level 1 ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive benefits bundles to international employees regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every nation, create local accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total work costs distributed per location, overall employment costs per cycle and a lot more.
Globally, I have actually shown management and tactical proficiency in guiding large-scale populations of over 100,000 workers across 170 nations. Presently, I am responsible for managing payroll techniques, as pointed out by Mark. My function includes handling and establishing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for a lot of influential companies in the world we supply payroll payments and labor force management to all staff member 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 great afternoon good night depending on where you remain in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I have actually sort of had a range of different functions on the service provider side and also on the supplier side from a payroll point of view so really anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just provide everyone another couple of uh well one of the 30 seconds or so 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 simply to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 really very gloomy and I want I was elsewhere at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially helpful for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and prompt payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can transform them from a challenging job into a strategic asset.
Handling payroll internationally is a difficult job due to various regulations, compliance requirements, information security concerns, and banking guidelines. The large number of employees and companies adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems typically result in manual procedures, data silos, and an absence of integration, leading to inconsistencies and inadequacies. In spite of residing in an era of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and options to streamline and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data 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 data is delivered to the incorrect location the typical expense of a worldwide 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 do not run smoothly if they rely on the required several procedures 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 obstacles company face when they're making payments to workers or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be consisted of best and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 any place you look ideal eventually constructing a knowledge base is definitely critical but all over you look with payroll payment they are like very payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to kind of progress with that it also also to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state 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 profession 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of complexity there's more and more advantages being organ or being used by services across the world so again you're just seeking to include increasingly more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually managing 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 require to develop extra handoffs while doing sos that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and a period that you know that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from a cost viewpoint from an impact point of view on staff members it is absolutely important that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest harmful result on people's well-being and many other factors if people aren't paid uh I've constantly been amazed coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anybody on this type of webinar has been informed 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 but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe 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 absolutely essential that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is a great first step um supplying an end-to-end payroll solution for your staff members globally once again I think is another substantial um procedure once again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of companies and reducing the variety of tools platforms and checking account they require 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've never ever 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 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 easy as possible for everybody that's involved in those procedures and likewise so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do companies select to primary different checking account there are organizations out there doing exactly this for particular countries and I have actually worked in a service or lots of businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't need to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think many reasons one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires taking a look at it requires altering however ultimately people are extremely stuck with what they're familiar
with ideal um change is a difficult thing we all do not like change um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping numerous bank accounts but there's a substantial amount of intricacy opts for establishing a checking account preserving it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is substantial however I believe the honest answer is change um individuals have not had the ability to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be identified to be the next Century or two there is a lot to keep track of and this technique does posture a number of obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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