Find out more about Papaya Global Covid19 ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and trustworthy method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Staff member Portal provides 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 companies offer competitive benefits plans to global staff members no matter the variety of workers in the company. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source local benefits companies in every nation, produce local accounts and have a minimum variety of employees.
The HR abilities provided by Worldwide HR include various functions such as keeping track of holiday time, guaranteeing compliance, facilitating the procedure of welcoming brand-new employees and bidding farewell to departing ones, providing a protected online platform for storing employees' files, and providing support for work permit procedures in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total work costs dispersed per area, total work expenses per cycle and much more.
Internationally, I have actually shown management and tactical know-how in assisting large-scale populations of over 100,000 workers across 170 nations. Currently, I are accountable for supervising payroll strategies, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for the majority of prominent companies worldwide we supply 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 introduce yourself obviously thank you good morning great afternoon great evening depending on where you are in the world it's beautiful 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 remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I've sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really dreary and I want I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies preserve different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially helpful for worldwide companies 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 different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most importantly policies compliance information security and banking guidelines then there are the large numbers they include additional complexity the international Labor force is currently three and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's frequently an overwhelming variety of different systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or really really standard there's no genuine consistency structure we're living in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a company spends on global payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly interacted hires and terminations as well as lack management and system setups and after that when you round all of it off and the data is delivered to the incorrect location the average expense of a global information 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 don't run efficiently if they count on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're making payments to staff members or otherwise that's an excellent concern I constantly toss this back and state what is it what does not require to be included right and what does
it require to be considered there's varying 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 innovation is permitting us to sort of move on with that it also as well to add to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely important that payroll and financing teams work closer together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on well-being and the payment landscape is becoming increasingly detailed. Organizations are continually introducing brand-new benefits and payment options, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can cause inadequacies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically sophisticated age, there's no justification for maintaining troublesome procedures. Payroll, the company's biggest expense, need to be processed properly and on time. Even small hold-ups can adversely impact staff members' wellness and have significant effects. Therefore, it's important to prioritize accurate and timely payments.
payroll group get um so I'm not sure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle all of us find out about it when it fails everybody jumps up and down when it fails but when it goes right it's just 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 vital that all of this stuff is done properly so leveraging the first Global Payments very first payroll payment solution is a fantastic initial step um offering an end-to-end payroll solution for your workers globally again I think is another huge um process once again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of companies and lowering the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 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 don't think any of us are in fact doing that for for the thanks
anyway we know how how essential 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 everyone that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and actually see what was going on and sort of shot to return to everyone so proceeding appearance why do business select to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually operated in a company or numerous companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not creating extra work for any person where we do not need to and anybody that's managing that process 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 believe numerous factors one is it's the requirement I think individuals have got so utilized to we require a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs altering but eventually people are really stuck with what they're familiar
with ideal um change is a tough thing we all do not like modification 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 things um I comprehend clearly the advantages of having keeping multiple savings account but there's a substantial quantity of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is substantial but I think the truthful response is change um people have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change but we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or so there is a lot to monitor and this technique does present a number of obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this improved capability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your achievements.
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