Find out more about Papaya Global Change Employee Reference ... 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 specifically devoted to handling payments. This offers us with a safe and secure and reliable method of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to worldwide staff members no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, produce regional accounts and have a minimum number of workers.
The HR capabilities provided by Global HR incorporate numerous functions such as keeping track of trip time, ensuring compliance, helping with the procedure of inviting new workers and bidding farewell to departing ones, providing a protected online platform for keeping workers' documents, and offering support for work permit procedures in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work expenses dispersed per location, total employment costs per cycle and far more.
Worldwide, I have actually demonstrated management and strategic knowledge in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for many prominent business on the planet we supply payroll payments and workforce management to all employee 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 present yourself naturally thank you good morning excellent afternoon great evening depending on where you remain in the world it's lovely to fulfill you and thank you very much 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 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I've kind of had a range of different functions on the supplier side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really dreary and I want I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why business maintain separate
Virtual payroll accounts are an option to standard savings account for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping separate bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of reasons most significantly policies compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll model there's typically an overwhelming variety of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really really basic there's no genuine consistency framework we're living in an era of tech but 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 which just 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 just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors inadequately communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good concern I always toss this back and state what is it what doesn't require to be consisted of best and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 client's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is absolutely crucial however all over you look with payroll payment they resemble super payments no if but some babies 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is enabling us to kind of progress with that it likewise too to add to that payroll and financing need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely imperative that payroll and financing groups work closer together than ever um I'm constantly surprised when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on wellness and the settlement landscape is becoming significantly detailed. Companies are continuously introducing new benefits and payment options, which contributes to the total intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can cause inefficiencies and traffic jams. In my opinion, this doesn't need to hold true. In today's highly innovative age, there's no validation for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even slight hold-ups can adversely impact employees' well-being and have significant consequences. For that reason, it's critical to focus on precise and timely payments.
payroll team get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us find out about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first International Payments very first payroll payment option is a terrific primary step um supplying an end-to-end payroll service for your employees internationally again I believe is another big um process once again aligning and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of services and minimizing the variety of tools platforms and savings 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 had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyway we know 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 simple as possible for everybody that's involved in those processes and also so envision sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting 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 attempt to browse them and really see what was going on and type of shot to return to everybody so carrying on appearance why do companies pick to main different checking account there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or lots of services doing exactly that I can state it does not constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for any person where we do not have to and anybody 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 quantity that we are I believe numerous reasons one is it's the requirement I believe people have got so used to we need a brand-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 think it's just 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 many other ways um to to sort of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering but ultimately people are extremely stuck to what they're familiar
with best um change is a hard thing all of us don't like change um so I believe it's just sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining several bank accounts but there's a substantial quantity of complexity chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is substantial but I think the sincere response is modification um individuals have not had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does position numerous challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I 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 seems like our CFO has actually gained another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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