Find out more about Papaya Global: Efficient Hr Tool For Businesses ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a safe and dependable approach of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Website
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The portal is available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive advantages plans to international employees no matter the number of employees in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional advantages companies in every country, develop local accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work expenses dispersed per place, overall work costs per cycle and much more.
Worldwide, I have actually shown management and tactical know-how in assisting large-scale populations of over 100,000 employees across 170 nations. Currently, I are accountable for supervising payroll techniques, as mentioned by Mark. My function involves managing and establishing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for a lot of prominent business worldwide we provide payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon great night depending on where you are in the world it's beautiful to fulfill you and thank you quite 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 market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of different roles on the provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two 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 intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly 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 raining here it's extremely extremely dreary and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most significantly policies compliance data security and banking rules then there are the large numbers they include more intricacy the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's typically a frustrating number of various systems leading to time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely very standard there's no genuine consistency framework we're living in an age of tech however 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 just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a business invests in global 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 result in compliance mishaps in the last mile of the deal almost half of worldwide services have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry errors improperly communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they depend on the essential several 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 challenges organization face when they're paying to workers or otherwise that's a great concern I always throw this back and say what is it what doesn't need to be consisted of ideal and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 any place you look ideal eventually building a knowledge base is definitely vital however all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to type of move on with that it likewise too to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely vital that payroll and finance teams work closer together than ever um I'm constantly amazed when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to contribute to kind of the level of intricacy there's more and more benefits being organ or being offered by companies throughout the world so again you're simply seeking to add more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine difficulties or real tough sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any company has from a cost perspective from an impact perspective on employees it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental effect on people's wellness and many other elements if people aren't paid uh I have actually constantly been impressed entering this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply 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 things is absolutely essential that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is an excellent primary step um offering an end-to-end payroll service for your staff members globally again I believe is another huge um procedure once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of companies and lowering the number of tools platforms and bank accounts they require for their Worldwide 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 have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and in fact see what was going on and kind of try to get back to everybody so proceeding look why do companies select to primary separate checking account there are organizations out there doing exactly this for specific countries and I've operated in a business or numerous services doing precisely that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for any person where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas 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 think people have got so used to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a process that needs looking at it needs changing but ultimately people are very stuck with what they recognize
with right um change is a challenging thing all of us don't like modification um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having keeping several checking account but there's a huge amount of intricacy opts for establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the intricacy is huge but I believe the truthful response is change um individuals haven't been able to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually always done it that way is no real reason 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 or so there is a lot to keep an eye on and this approach does present several challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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