Find out more about Deel Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and dependable technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Staff member Portal provides workers with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive benefits packages to international staff members regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, develop local accounts and have a minimum number of employees.
The HR capabilities offered by International HR include numerous functions such as keeping an eye on getaway time, making sure compliance, helping with the procedure of welcoming brand-new workers and bidding goodbye to leaving ones, using a secure online platform for storing workers' documents, and supplying support for work permit procedures in case your workers require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work costs distributed per area, total employment costs per cycle and far more.
Globally, I have demonstrated leadership and strategic proficiency in assisting massive populations of over 100,000 staff members across 170 nations. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My function includes managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent night depending on where you remain in the world it's beautiful to satisfy 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've been in the payments market for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually type of had a range of different functions on the service provider side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just provide everybody another number of uh well one of 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 quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly 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 extremely really dreary and I wish 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 difficulty years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets provide a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic possession for payroll executives. We will also offer a recap of the main points covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and prompt payroll payments is a complex obstacle for services running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll checking account, discover how companies anticipate payroll costs to enhance working capital, and discover how simplifying international payroll payments can transform them from a difficult task into a strategic property.
Managing payroll internationally is a difficult job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of employees and services contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, data silos, and an absence of integration, causing disparities and inadequacies. Despite living in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often utilizing pen and paper. This webinar objectives to offer insights and solutions to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international services have revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round it all off and the data is shipped to the wrong location the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they depend on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a great question I constantly throw this back and say what is it what does not require to be included right and what does
it require to be thought of there's differing Bank information 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 have to pay from the consumer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely crucial but all over 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 look at the sort of link 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 technology is permitting us to sort of progress with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide 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 procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to add to type of the level of complexity there's more and more benefits being organ or being provided by companies throughout the world so again you're just looking to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real challenges or real difficult kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we operate in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact point of view on staff members it is definitely critical that it's done correctly and on time so what we indicate 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 harmful impact on individuals's wellness and lots of other factors if individuals aren't paid uh I've always been astonished coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this type of webinar has been told 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 however eventually 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 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 stuff is definitely crucial that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment option is a terrific first step um offering an end-to-end payroll option for your workers worldwide once again I think is another huge um process once again lining up and ensuring you have standardization Worldwide processes all of those things are definitely essential to success success of companies and decreasing the variety of tools platforms and bank accounts they require for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I do not think any of us are actually doing that for for the thanks
anyhow 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 simple as possible for everybody that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions picture 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 a fascinating job trying 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 need days of the week to attempt to look through them and in fact see what was going on and kind of try to get back to everybody so proceeding look why do business pick to main separate checking account there are companies out there doing precisely this for particular countries and I've worked in a business or lots of companies doing precisely that I can state it does not always feel effective and it does create more work I know we're not intentionally doing that we're not producing extra work for any person where we do not need to and anybody that's handling 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 amount that we are I believe lots of reasons one is it's the requirement I think individuals have actually got so utilized to we require a new bank 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 standard individuals have actually embraced and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it needs changing however ultimately individuals are extremely stuck to what they recognize
with best um modification is a challenging thing we all don't like change um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having maintaining multiple checking account but there's a substantial amount of complexity goes with establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big however I think the honest response is change um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to keep an eye on and this method does present several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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