Find out more about Enhance Hr Efficiency Cost-effectively With Papaya Global ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to global staff members despite the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every country, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment costs dispersed per area, total work expenses per cycle and a lot more.
Globally, I have actually demonstrated management and tactical know-how in guiding massive populations of over 100,000 employees across 170 countries. Currently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role includes managing and developing external partnerships, supporting Business customers, 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 company, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've sort of had a variety of different roles on the service provider side and also on the supplier side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely very uninspiring and I want I was elsewhere at this moment in time all right 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 companies maintain separate
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of maintaining different savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they add additional complexity the worldwide Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's often a frustrating variety of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or very extremely fundamental there's no real consistency structure we're residing in an age of tech but 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 simply blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in international payroll the less of a photo they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global businesses have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes improperly communicated hires and terminations as well as absence management and system setups and after that when you round everything off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they depend on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a good question I constantly throw this back and state what is it what doesn't need 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 time frames 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 customer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is absolutely crucial however everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is enabling us to sort of move forward with that it also too to add to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely crucial that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on wellness and the settlement landscape is becoming increasingly complex. Businesses are continually introducing new benefits and payment alternatives, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into different teams, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's technically innovative era, there's no reason for preserving troublesome procedures. Payroll, the company's biggest cost, need to be processed correctly and on time. Even minor delays can negatively affect workers' wellness and have far-reaching consequences. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm uncertain anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees 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 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment service is a terrific initial step um providing an end-to-end payroll solution for your employees internationally again I think is another big um procedure once again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of services and reducing the variety of tools platforms and checking account they need for their Global 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 had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and in fact see what was going on and kind of try to get back to everybody so proceeding look why do companies pick to primary separate bank accounts there are businesses out there doing exactly this for particular nations and I've operated in a company or lots of companies doing exactly that I can state it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing additional work for anyone where we don't need to and anyone that's dealing with that procedure 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 think many factors one is it's the requirement I believe people have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a process that requires taking a look at it requires altering however ultimately individuals are very stuck to what they're familiar
with right um change is a tough thing we all don't like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining multiple bank accounts but there's a big quantity of complexity goes with setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for individual people so the intricacy is big however I think the truthful answer is change um people have not had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change 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 proceeding and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to monitor and this approach does present several challenges um so Johnny might you tell us about those difficulties 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 handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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