Find out more about Papaya Global Claim Last Year Statutory Maternity ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and reliable method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to worldwide workers regardless of the variety of workers in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional benefits service providers in every country, develop local accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall work expenses distributed per area, overall work costs per cycle and much more.
Internationally, I have shown management and strategic know-how in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for most influential companies worldwide we supply payroll payments and workforce management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great evening depending on where you remain in the world it's charming 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've remained in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly 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 extremely very dreary and I wish I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially useful for global companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being 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.
Making sure accurate, effective, and prompt payroll payments is a complex challenge for companies running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, learn how business anticipate payroll costs to enhance working capital, and find how improving international payroll payments can change them from a difficult job into a tactical asset.
Managing payroll internationally is a daunting job due to different regulations, compliance requirements, information security concerns, and banking guidelines. The sheer number of workers and companies contributes to the intricacy, with an approximated 3.5 billion people in the worldwide labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and an absence of combination, causing disparities and ineffectiveness. Regardless of living in an era of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar aims to offer insights and solutions to streamline and optimize 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 say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on international payroll the less of a photo they see an absence of exposure also extends to payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the transaction almost half of global services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors improperly communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the essential numerous procedures 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 obstacles organization face when they're making payments to staff members or otherwise that's a great question I always throw this back and say what is it what does not need to be included right and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 best ultimately developing a knowledge base is absolutely important but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely essential that payroll and finance teams work better together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate 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 information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to add to type of the level of complexity there's a growing number of advantages being organ or being offered by companies throughout the world so once again you're simply looking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or genuine tough kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a couple of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's really handling the payment side of things but you understand 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 need to develop additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single greatest liability that any business has from an expense perspective from an impact viewpoint on employees it is absolutely crucial 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 damaging impact on individuals's wellness and numerous other factors if people aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle we all hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout 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 absolutely crucial that all of this things is done properly so leveraging the first International Payments first payroll payment solution is a fantastic first step um offering an end-to-end payroll service for your employees globally once again I believe is another huge um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of organizations and reducing the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever 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 problems where things haven't gone quite where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how crucial 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 simple as possible for everyone that's associated with those procedures and also so imagine sorry I'm just I was just gon na state think of 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 discussing numerous thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and actually see what was going on and type of shot to return to everybody so proceeding look why do companies select to main different savings account there are companies out there doing exactly this for particular countries and I have actually worked in an organization or numerous services doing exactly that I can say it doesn't constantly feel effective and it does produce more work I know we're not intentionally doing that we're not developing additional work for anyone where we don't need to and anyone that's handling 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 factors one is it's the standard I think individuals have got so used to we require a new checking 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 simply been the standard and the standard the people have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing but ultimately individuals are very stuck to what they're familiar
with ideal um modification is a difficult thing we all do not like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having maintaining several bank accounts however there's a substantial amount of complexity goes with establishing a bank account keeping it ensuring it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is big however I believe the honest response is change um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or so there is a lot to keep track of and this technique does posture a number of challenges um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I just did you switched our Business 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 International staff members you should have a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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