Find out more about Papaya Global Cis Software ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and dependable technique of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Website supplies staff members with the ability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to global employees no matter the variety of employees in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every nation, produce local accounts and have a minimum number of staff members.
The HR abilities provided by International HR encompass different functions such as keeping track of trip time, ensuring compliance, facilitating the process of inviting new staff members and bidding goodbye to departing ones, offering a safe and secure online platform for storing employees' documents, and providing support for work permit procedures in case your staff members require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, overall employment costs dispersed per area, total work expenses per cycle and much more.
Internationally, I have shown management and tactical competence in directing massive populations of over 100,000 staff members across 170 countries. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most influential companies on the planet we provide payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good evening depending on where you are 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 have actually remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the provider side and also on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really really dreary and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies preserve separate
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving different bank accounts for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a strategic property for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, effective, and prompt payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and find how improving worldwide payroll payments can transform them from a challenging task into a tactical possession.
Managing payroll internationally is a challenging task due to different policies, compliance requirements, data security issues, and banking guidelines. The sheer number of employees and businesses contributes to the complexity, with an approximated 3.5 billion people in the international workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual processes, information silos, and a lack of integration, resulting in inconsistencies and inefficiencies. Regardless of residing in an age of technological improvements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar aims to provide insights and options to streamline and enhance international payroll payments.
about it to offer you a concept 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 sleepless nights and quite honestly the more an organization invests in global payroll the less of a picture they see an absence of presence also extends to payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're paying to staff members or otherwise that's a great concern I always toss this back and state what is it what does not need to be consisted of ideal 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 have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type 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 allowing us to type of progress with that it likewise also to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely essential that payroll and financing groups work closer together than ever um I'm always astonished when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market 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 any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being provided by services throughout the world so once again you're simply seeking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine obstacles or genuine tough sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would absolutely state 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 teams feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they simply 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 working in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from a cost point of view from an effect perspective on staff members it is definitely important 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 have to be done right it has the greatest harmful effect on individuals's wellness and lots of other elements if people aren't paid uh I've constantly been astonished coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle we all hear about it when it fails everyone 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 view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely vital that all of this things is done correctly so leveraging the first International Payments first payroll payment option is a great initial step um supplying an end-to-end payroll solution for your employees globally again I believe is another substantial um process once again aligning and ensuring you have standardization International procedures all of those things are definitely essential to success success of organizations and minimizing the number of tools platforms and bank accounts they require for their Worldwide payroll too could not 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 don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we know how how essential a function 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 easy as possible for everyone that's involved in those processes and also so think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting 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 require days of the week to try to check out them and actually see what was going on and sort of shot to return to everyone so carrying on look why do business pick to primary different checking account there are businesses out there doing exactly this for specific nations and I've operated in a service or numerous companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for anybody where we do not have to and anyone that's dealing with 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 amount that we are I believe many factors one is it's the requirement I think individuals have got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a procedure that needs looking at it needs changing but eventually people are extremely stuck to what they're familiar
with ideal um change is a hard thing we all do not like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having maintaining numerous bank accounts however there's a huge amount of intricacy chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private people so the complexity is big however I believe the honest answer is modification um individuals have not been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit 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 real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century approximately there is a lot to track and this approach does present a number of challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Enterprise 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 gotten another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
Papaya Global Aeo