Find out more about Papaya Global Correct Version ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and dependable method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Portal offers staff members with the ability to gain access to and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Advantages Administration
Papaya Global helps companies offer competitive advantages plans to international workers regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages suppliers in every country, develop local accounts and have a minimum number of workers.
The HR capabilities offered by Worldwide HR encompass different functions such as monitoring holiday time, making sure compliance, helping with the procedure of inviting new employees and bidding farewell to departing ones, offering a secure online platform for storing workers' documents, and providing assistance for work permit procedures in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work costs dispersed per area, total work expenses per cycle and far more.
Internationally, I have actually shown leadership and tactical competence in assisting massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function involves handling and developing 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 solutions provider.
business to make the time 100 list for many influential companies worldwide we offer payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great night depending upon where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and specifically working on the payroll and payment sector for over seven years um I was amazed 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 five or 6 years where I've kind of had a range of various roles on the service provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll type 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 type of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's really really uninspiring and I want I was elsewhere at this moment in time okay so let's get started 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 different
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is particularly useful for international organizations with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly policies compliance data security and banking guidelines then there are the large numbers they include further 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 further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll model there's typically a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or really very standard there's no real consistency framework we're living in an era 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 and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that provides me sleepless nights and rather honestly the more a company spends on worldwide payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide businesses have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors improperly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the data is delivered to the incorrect place the typical cost of an international information 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 don't run efficiently if they rely on the necessary multiple 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 service face when they're paying to staff members or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be included best and what does
it require to be thought about there's differing 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 abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely essential that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by businesses throughout the world so once again you're just aiming to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real difficulties 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 years I would absolutely state that the larger a business 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 teams feeding information into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop extra handoffs while doing sos that we run 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 an age of tech and a period that you understand that we are working in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single most significant liability that any business has from an expense viewpoint from an effect perspective on staff members it is absolutely important that it's done correctly and on time so what we imply 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 effect on people's well-being and many other elements if individuals aren't paid uh I've always been amazed entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this sort of webinar has 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 employees or not um however ultimately payroll is such an important cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment service is a terrific initial step um supplying an end-to-end payroll option for your staff members internationally again I think is another huge um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and bank accounts they need for their Worldwide 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 have actually 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 complaints where things have not gone quite where they're indicated 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm just I was just gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean up all those up for sure oh definitely I can't picture 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 sort of shot to get back to everybody so proceeding appearance why do business choose to primary different bank accounts there are organizations out there doing precisely this for specific nations and I have actually operated in a service or many businesses doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we don't have to and anybody that's managing 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 reasons one is it's the standard I think individuals have actually got so utilized to we require a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I think this is a process that requires taking a look at it requires altering but ultimately individuals are extremely stuck to what they recognize
with ideal um modification is a hard thing we all do not like modification um so I think it's just type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping several checking account but there's a big quantity of intricacy chooses establishing a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge however I think the truthful response is modification um people haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this method does present numerous obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I simply did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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