Find out more about Papaya Global Corona ... 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 acquired a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and secure and trustworthy approach of paying to our 10,000 employees worldwide.}
The advanced global payroll management app enhances my payroll process, saving me a substantial quantity of time every month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits plans to global staff members despite the variety of workers in the company. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local advantages service providers in every nation, create local accounts and have a minimum variety of workers.
The HR abilities supplied by Worldwide HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, assisting in the process of welcoming new employees and bidding farewell to leaving ones, using a safe and secure online platform for keeping employees' files, and offering assistance for work allow procedures in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, total work expenses dispersed per location, total work costs per cycle and a lot more.
Internationally, I have shown leadership and tactical expertise in guiding large-scale populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for a lot of influential business in the world we provide payroll payments and workforce management to all worker enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending upon where you remain in the world it's lovely 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 market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've sort of had a variety of different functions on the provider side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two 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 currently just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it is 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 uninspiring and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional bank accounts for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most significantly guidelines compliance information security and banking rules then there are the large numbers they include more complexity the worldwide Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's frequently a frustrating number of different systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or extremely extremely basic there's no genuine consistency structure we're living in an age of tech however 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 simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide services 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 bad HCM data information entry mistakes badly communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is shipped to the incorrect location the typical expense 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 worldwide payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint 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 good concern I constantly toss this back and state what is it what does not need to be included best and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is definitely critical but all over you look with payroll payment they are like incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to type of move forward with that it also also to add to that payroll and finance need to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance groups work more detailed together than ever um I'm always amazed when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial to add to kind of the level of intricacy there's more and more advantages being organ or being used by companies across the world so once again you're just wanting to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or genuine tough sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily need 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 prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any company has from a cost point of view from an effect point of view on workers it is absolutely critical that it's done properly and on time so what we mean 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 people's well-being and lots of other factors if individuals aren't paid uh I have actually always been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just observe when things fail. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is important to make sure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Utilizing the first Worldwide Payments first payroll payment solution is a fantastic preliminary step towards offering a comprehensive payroll service for employees worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and bank accounts required for international payroll are crucial factors in accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyway we know how how essential 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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm simply I was just gon na say envision 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 numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean 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 need days of the week to try to browse them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do business select to primary separate savings account there are businesses out there doing exactly this for specific nations and I've operated in a company or many companies doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for anyone where we don't have to and any person that's dealing with 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 many factors one is it's the standard I believe individuals have got so used to we need 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 requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but ultimately individuals are very stuck with what they're familiar
with ideal um change is a challenging thing all of us don't like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having keeping multiple savings account however there's a big 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 individual people so the intricacy is huge but I think the truthful response is change um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to change 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 moving on and moving into you understand what could nearly be determined to be the next Century or two there is a lot to keep track of and this method does pose numerous obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have successfully protected 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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