Find out more about Papaya Global Check Nominal Link Settings ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and trustworthy technique of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app improves my payroll process, saving me a significant amount of time every month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Employee Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to international employees regardless of the number of employees in the business. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source regional advantages suppliers in every nation, develop regional accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total employment expenses distributed per place, overall work expenses per cycle and far more.
Internationally, I have actually shown management and strategic proficiency in guiding massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My role involves managing and developing external collaborations, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for a lot of prominent companies in the world we offer payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say 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 good evening depending on where you are in the world it's beautiful to fulfill 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 market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different functions on the provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I truly 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 drizzling here it's very very uninspiring and I wish I was elsewhere at this moment in time fine so let's begin 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 checking account for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining separate checking account for payroll in various countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, effective, and prompt payroll payments is a complex obstacle for companies operating internationally. Join us for a webinar to explore the advantages and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll expenses to optimize working capital, and find how simplifying global payroll payments can transform them from a burdensome job into a tactical asset.
Handling payroll worldwide is an overwhelming job due to numerous regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of workers and services contributes to the intricacy, with an approximated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of 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 utilizing pen and paper. This webinar objectives to supply insights and options to simplify and enhance global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service spends on global payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide companies have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations in addition to lack management and system configurations and after that when you round it all off and the data is delivered to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the required 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 obstacles organization face when they're paying to workers or otherwise that's a great question 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 thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is definitely vital but everywhere you look with payroll payment they are like extremely payments no if however 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 innovation is permitting us to type of progress with that it also also to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance teams work better together than ever um I'm constantly amazed when people say I've 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 divide the payroll payment from calculation 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 procedure 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
world we live in and well-being being increasingly more essential to add to sort of the level of intricacy there's increasingly more benefits being organ or being provided by organizations across the world so once again you're simply looking to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any business has from a cost point of view from an effect point of view on staff members it is absolutely crucial that it's done properly 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 most significant harmful impact on individuals's wellness and numerous other aspects if people aren't paid uh I've always been impressed entering this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise 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 definitely vital that all of this things is done correctly so leveraging the first Global Payments first payroll payment option is an excellent first step um providing an end-to-end payroll option for your workers globally once again I believe is another substantial um process again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of services and decreasing the number of tools platforms and savings account they need for their International payroll too couldn't 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 don't expect 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 rather where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how crucial a role 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 picture sorry I'm just I was just gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating job attempting to clean up 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 require days of the week to attempt to check out them and really see what was going on and kind of shot to get back to everybody so carrying on look why do companies select to main different bank accounts there are companies out there doing precisely this for particular nations and I have actually operated in a business or lots of businesses doing precisely that I can state it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anyone where we do not need to and anybody that's managing that process 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 believe people have got so used to we require a new bank account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing but ultimately people are really stuck with what they recognize
with ideal um modification is a tough thing we all do not like modification um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having preserving multiple checking account but there's a substantial amount of intricacy goes with establishing a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is substantial however I think the sincere answer is change um individuals have not had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century or two there is a lot to track and this method does present numerous difficulties um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you switched our Enterprise 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 Global workers you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo