Find out more about Papaya Global Courses Leicester ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and reliable technique 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 control panel for my payroll, EOR and contractors
The Worker Portal offers workers with the ability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to global staff members despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local advantages companies in every country, create regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment expenses dispersed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business managing and building external relationships supporting Enterprise clients and services as well as serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in providing payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone comes 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 very very uninspiring and I wish I was elsewhere at this moment in time fine so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different checking account for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one country but when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance information security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals 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 standard payroll design there's often a frustrating variety of various systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or very very standard there's no genuine consistency structure we're living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on global payroll the less of an image they see an absence of visibility also reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they don't 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 data entry errors poorly communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the information is shipped to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges company face when they're paying to staff members or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 intricacy anywhere you look ideal eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if but some children 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 sort of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is definitely imperative that payroll and financing teams work closer together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on well-being and the settlement landscape is ending up being progressively elaborate. Companies are constantly introducing new benefits and payment alternatives, which contributes to the general complexity. Big corporations often divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my opinion, this does not need to be the case. In today's highly sophisticated era, there's no validation for keeping troublesome treatments. Payroll, the company's greatest cost, must be processed correctly and on time. Even minor hold-ups can negatively impact employees' well-being and have far-reaching repercussions. For that reason, it's important to prioritize accurate and prompt payments.
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only observe when things fail. However, when things go right, it's viewed as simply a routine job. This is how it's perceived externally also. For that reason, it is essential to guarantee that jobs like Wi-Fi Global and other important matters are done properly. Using the first Global Payments very first payroll payment option is a great initial action towards providing a thorough payroll option for workers worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account required for worldwide payroll are essential factors in accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things don't go as planned. Ultimately, we do not do it for the thankfulness.
anyhow we know how how important a function 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 everyone that's involved in those procedures and also so imagine sorry I'm just I was just gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean up 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 check out them and actually see what was going on and sort of try to get back to everyone so carrying on appearance why do business select to main separate bank accounts there are organizations out there doing exactly this for particular countries and I've worked in a business or numerous companies doing precisely that I can say it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not developing additional work for any person where we don't need to and any person that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of factors one is it's the requirement I think people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing but ultimately people are really stuck to what they recognize
with ideal um modification is a difficult thing we all don't like modification um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having maintaining numerous bank accounts however there's a big amount of intricacy goes with setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the complexity is huge however I think the truthful response is change um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep track of and this method does pose a number of difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
Papaya Global Aeo