Find out more about Papaya Global App ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and dependable technique of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Employee Portal offers employees with the capability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to worldwide workers no matter the variety of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every country, produce local accounts and have a minimum number of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs distributed per location, overall employment costs per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical know-how in directing large-scale populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for managing payroll strategies, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Business clients, and offering advisory services. In addition, 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 most influential companies in the world we offer payroll payments and workforce management to all employee key ins 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 naturally thank you good morning excellent afternoon excellent evening depending on where you are in the world it's charming 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've remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of different roles on the provider side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort 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 originates from and I truly do hope it's much sunnier than it remains 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 dreary and I want I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why companies preserve different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll likewise discuss a recap and that needs to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them ends up being more and more complex Worldwide organizations are wanting to find Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment perspective lots of companies keep separate bank account just for payroll while some have numerous accounts in various countries does it make good sense for business to keep separate bank accounts often in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex processes of
Ensuring accurate, efficient, and prompt payroll payments is a complex challenge for businesses operating worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll costs to optimize working capital, and discover how streamlining international payroll payments can change them from a troublesome job into a strategic possession.
Managing payroll worldwide is a daunting job due to different policies, compliance requirements, data security concerns, and banking guidelines. The large number of employees and organizations adds to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 countless whom are in Africa, and 230 million organizations worldwide.
Standard payroll systems typically lead to manual procedures, data silos, and a lack of integration, causing disparities and inadequacies. Regardless of residing in an era of technological improvements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to provide insights and options to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 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 business invests in international payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global businesses have actually expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors inadequately communicated hires and terminations as well as absence management and system setups and after that when you round it all off and the information is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good question I constantly toss this back and say what is it what doesn't need to be consisted of right and what does
it need to be thought of there's varying 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like extremely 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 believe there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to type of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm always amazed when individuals state I have actually split 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 calculation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the payment landscape is ending up being significantly detailed. Services are continually introducing new benefits and payment options, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to inadequacies and bottlenecks. In my opinion, this does not need to be the case. In today's technically sophisticated period, there's no reason for preserving cumbersome procedures. Payroll, the company's biggest cost, must be processed properly and on time. Even small delays can negatively affect workers' well-being and have far-reaching repercussions. For that reason, it's important to focus on accurate and timely payments.
payroll team get um so I'm not exactly sure anybody on this type of webinar has been told 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 workers or not um but eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment service is a fantastic initial step um supplying an end-to-end payroll option for your staff members globally once again I believe is another big um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of companies and decreasing the variety of tools platforms and checking account they require for their International 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 thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 associated with those processes and likewise so imagine sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't imagine 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 in fact see what was going on and type of try to return to everybody so moving on appearance why do business select to primary separate savings account there are organizations out there doing exactly this for particular countries and I have actually operated in a business or many companies doing precisely that I can say it does not constantly feel efficient and it does create more work I understand we're not intentionally doing that we're not developing additional work for anybody where we do not need to and anybody that's managing that procedure I 'd be interested to hear your thoughts 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 standard I believe people have got so used to we need a new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing however ultimately people are very stuck to what they're familiar
with ideal um change is a difficult thing we all don't like modification um so I believe it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping numerous checking account however there's a big amount of intricacy opts for establishing a checking account keeping it guaranteeing it can send International transfers ensuring it's established with the right user accesses for private people so the complexity is huge however I believe the truthful answer is modification um people have not had the ability to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be identified to be the next Century or two there is a lot to monitor and this approach does position a number of obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I simply did you switched our Business 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 staff members you deserve a corner workplace with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan