Find out more about Papaya Global Ceo ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and trustworthy approach of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Employee Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to international employees despite the number of workers in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits service providers in every nation, develop regional accounts and have a minimum variety of employees.
The HR abilities offered by Global HR incorporate numerous functions such as keeping track of vacation time, ensuring compliance, helping with the process of inviting new workers and bidding farewell to leaving ones, providing a safe and secure online platform for keeping workers' files, and offering support for work allow treatments in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, overall employment expenses dispersed per area, total employment costs per cycle and much more.
Worldwide, I have actually demonstrated management and strategic competence in guiding massive populations of over 100,000 employees throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as mentioned by Mark. My role involves managing and developing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to employees 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, regardless of your area. It's a pleasure to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everybody another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually 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 really very dreary and I wish I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies preserve separate
Virtual payroll accounts are an option to conventional bank accounts for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote labor forces, as it streamlines the complicated procedure of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for services operating globally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, learn how companies forecast payroll expenses to enhance working capital, and discover how simplifying worldwide payroll payments can change them from a burdensome task into a strategic asset.
Managing payroll internationally is a daunting job due to numerous guidelines, compliance requirements, information security issues, and banking guidelines. The large variety of employees and services contributes to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and an absence of combination, causing inconsistencies and inadequacies. Despite residing in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to provide insights and solutions to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide businesses have expressed that they do not 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 information data entry mistakes inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 client's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 absolutely basic and technology is permitting us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and finance groups work closer together than ever um I'm always surprised when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to add to sort of the level of intricacy there's more and more benefits being organ or being used by services throughout the world so once again you're simply seeking to include increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real challenges or real challenging sort of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any organization has from a cost viewpoint from an impact viewpoint on employees it is absolutely vital 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 need to be done right it has the greatest detrimental impact on individuals's wellness and lots of other aspects if people aren't paid uh I've always been amazed entering into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just discover when things fail. However, when things go right, it's seen as just a routine task. This is how it's viewed externally as well. Therefore, it is vital to make sure that jobs like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Global Payments very first payroll payment option is a great preliminary action towards offering an extensive payroll option for workers worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and savings account needed for global payroll are crucial consider attaining company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we know 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 simple as possible for everybody that's involved in those processes and also so imagine sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job 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 need days of the week to try to check out them and really see what was going on and kind of try to return to everyone so carrying on appearance why do companies choose to primary separate bank accounts there are organizations out there doing precisely this for specific countries and I've operated in a business or numerous services doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not purposely doing that we're not developing extra work for anybody where we don't need to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I believe individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of 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 needs changing but ultimately people are very stuck with what they're familiar
with best um modification is a tough thing all of us do not like modification um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping several checking account but there's a big amount of complexity goes with setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is big but I think the honest answer is modification um people haven't been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be determined to be the next Century or so there is a lot to monitor and this method does present several challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you deserve a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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