Find out more about Papaya Global: Low-cost Hr Software For Improved Compliance And Efficiency ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a secure and reliable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Portal supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in various languages.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to international workers regardless of the number of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total employment costs dispersed per area, total employment costs per cycle and far more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Business clients and solutions in addition to acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I've type of had a range of various functions on the provider side and also on the vendor side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather 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 originates from and I truly do hope it's much sunnier than it is 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 very extremely gloomy and I wish I was somewhere else at this moment in time all right so let's start 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 maintain separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is particularly helpful for international companies with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a strategic 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 payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance data security and banking rules then there are the large numbers they add further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the world in the standard payroll design there's often an overwhelming number of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or really very fundamental there's no genuine consistency framework we're residing in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of international organizations have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors inadequately communicated hires and terminations along with lack management and system configurations and then when you round everything off and the information is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they count on the essential multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a good question I constantly throw this back and say what is it what doesn't require to be included ideal and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames 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 customer's own in-country account so there's complexity any place you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if however some babies 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly astonished when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 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
world we reside in and well-being being more and more essential to contribute to sort of the level of complexity there's a growing number of advantages being organ or being used by companies throughout the world so again you're just looking to add increasingly 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 but have you got any experience in kind of genuine challenges or real challenging kind of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in an age of tech and a period that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any service has from a cost perspective from an effect perspective on employees it is absolutely 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 detrimental impact on individuals's well-being and many other elements if people aren't paid uh I've always been impressed entering this Market type of the last 5 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 told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an essential cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a fantastic primary step um providing an end-to-end payroll option for your workers worldwide once again I believe is another big um process again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of companies and minimizing the variety of tools platforms and savings account they need 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 have actually never ever had a hundred countless them within a payroll cycle do not 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 rather where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand 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 likewise so think of sorry I'm just I was just gon na state think of the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and really see what was going on and sort of try to return to everyone so proceeding look why do companies choose to main separate savings account there are services out there doing precisely this for particular countries and I've worked in a service or lots of services doing exactly that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not creating additional work for any person where we don't need to and any person that's dealing with 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 think many reasons one is it's the standard I think people have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a procedure that requires looking at it requires altering but ultimately people are really stuck with what they're familiar
with right um modification is a hard thing we all don't like change um so I think it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having keeping numerous bank accounts but there's a big amount of complexity chooses setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual people so the complexity is big however I think the honest answer is change um people haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this method does position a number of challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I just 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 Global staff members you deserve a corner office with a better parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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