Find out more about Papaya Global Courses Norwich ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and trustworthy approach of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
The Worker Portal supplies staff members with the ability to access and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits plans to international workers no matter the variety of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, create local accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work expenses distributed per area, total employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical knowledge in guiding large-scale populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for managing payroll methods, as pointed out by Mark. My function includes managing and developing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've kind of had a range of different functions on the provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so 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 interesting and I can see it going on currently simply to hear where everybody 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 is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very bleak and I want I was elsewhere 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 challenge years of managing Global payroll why companies maintain different
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is particularly beneficial for international organizations with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently firmly and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most importantly guidelines compliance data security and banking rules then there are the sheer numbers they include additional intricacy the international Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 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 world in the conventional payroll model there's frequently a frustrating number of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or extremely extremely basic there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time 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 Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international companies have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the wrong place 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 cash worldwide payroll and payments do not run efficiently if they depend on the needed several 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 difficulties business face when they're making payments to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought about there's varying 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 need to pay from the client's own in-country account so there's complexity anywhere you look right ultimately constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble incredibly payments no if but 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 believe there's now a bit more recognition that payroll payments are definitely essential and innovation is allowing us to type of move on with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing groups work better together than ever um I'm constantly amazed when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to sort of the level of complexity there's more and more advantages being organ or being used by services across the world so again you're simply seeking to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine difficult type of pay uses to play to pay people I believe yeah I mean 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 works um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any organization has from a cost viewpoint from an impact viewpoint on workers it is definitely 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 biggest damaging effect on individuals's wellness and many other aspects if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us become aware of it when it fails everyone 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 deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first International Payments first payroll payment service is a terrific first step um providing an end-to-end payroll service for your employees worldwide once again I believe is another huge um procedure once again aligning and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses and minimizing the variety of tools platforms and savings account they need 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 countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're meant 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 easy as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and sort of shot to get back to everybody so proceeding appearance why do companies select to primary separate bank accounts there are companies out there doing exactly this for particular nations and I have actually operated in a service or numerous services doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't need to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous factors one is it's the requirement I think people have got so used to we need a 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 simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that needs looking at it needs altering but eventually people are extremely stuck to what they're familiar
with right um change is a hard thing we all don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping several bank accounts however there's a substantial amount of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is substantial but I believe the honest answer is change um individuals haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is understanding you understand and there is an element 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 moving on and moving into you understand what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this method does pose several challenges um so Johnny might you inform us about those challenges yeah obviously so there's a variety 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 jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
Papaya Global Aeo