Find out more about Papaya Global Saint Barthelemy ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a secure and reliable approach of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app streamlines my payroll process, conserving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Worker Website provides employees with the capability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to worldwide workers regardless of the variety of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional benefits suppliers in every nation, develop local accounts and have a minimum variety of employees.
The HR capabilities provided by International HR incorporate different functions such as keeping track of getaway time, making sure compliance, helping with the process of welcoming new workers and bidding goodbye to leaving ones, offering a safe online platform for storing employees' documents, and providing assistance for work allow treatments in case your employees need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment costs distributed per area, overall work costs per cycle and far more.
environments across the globe I offered management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work across business managing and structure external relationships supporting Business clients and services as well as acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for many influential companies on the planet we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon good evening depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
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 range of different roles on the provider side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another number 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 quite interesting 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 comes from and I actually 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 raining here it's extremely really dreary and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is particularly useful for international companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of preserving different checking account for payroll in various countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most significantly regulations compliance information security and banking guidelines then there are the large numbers they include additional complexity the global Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll design there's typically an overwhelming variety of various systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or really extremely standard there's no real consistency structure we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind whenever I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in worldwide payroll the less of an image they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide organizations have revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors improperly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they count on the required multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're making payments to employees 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 best and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 client's own in-country account so there's intricacy any place you look ideal ultimately constructing a knowledge base is absolutely important however all over you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to sort of progress with that it also as well to contribute to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and finance groups work better together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to contribute to sort of the level of complexity there's increasingly more benefits being organ or being offered by companies across the world so again you're just aiming to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine difficulties or real tough kind of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to develop extra handoffs in the processes that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and a period that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any company has from a cost point of view from an effect point of view 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 need to be done right it has the biggest destructive result on people's well-being and many other elements if people aren't paid uh I've constantly been astonished entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals just notice when things fail. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally as well. For that reason, it is important to guarantee that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first Global Payments first payroll payment solution is a terrific preliminary step towards providing a thorough payroll option for employees worldwide. Standardization, global processes, and decreasing the number of tools, platforms, and bank accounts needed for international payroll are key consider attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Eventually, we don't do it for the appreciation.
anyhow we know how how important a function 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 everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and kind of try to get back to everyone so proceeding appearance why do companies choose to main different savings account there are businesses out there doing exactly this for particular nations and I've worked in an organization or many companies doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person where we do not need to and anyone that's dealing with 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 numerous reasons one is it's the requirement I think people have got so used to we require a new bank account we open an entity and appropriately 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 just been the requirement and the norm the people have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a process that requires looking at it requires changing but ultimately individuals are very stuck with what they recognize
with ideal um modification is a hard thing we all do not like modification um so I think it's just sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having keeping numerous bank accounts but there's a big quantity of complexity chooses establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for private individuals so the complexity is substantial however I believe the sincere answer is change um people haven't been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or two there is a lot to keep an eye on and this technique does position several obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a variety right there is so
I just 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 seems like our CFO has actually gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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