Find out more about Papaya Global Tokelau ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Employee Website offers workers with the ability to access and view essential documents 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.
Benefits Administration
Papaya Global assists companies use competitive advantages plans to international staff members regardless of the number of workers in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local advantages service providers in every nation, create local accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment costs distributed per location, total employment costs per cycle and a lot more.
environments around the world I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout business handling and building external relationships supporting Enterprise customers and solutions in addition to acting as a consultant for those of you that do not know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many influential business worldwide we offer payroll payments and workforce management to all staff member 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 introduce yourself naturally thank you good morning great afternoon excellent night depending on where you remain in the world it's charming to meet 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 have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or six years where I've type of had a variety of various functions on the supplier side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another number of uh well among 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 interesting and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone originates 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 extremely extremely gloomy and I wish I was somewhere else at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep separate
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it streamlines the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in various countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming 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.
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, find out how business anticipate payroll expenses to enhance working capital, and find how enhancing worldwide payroll payments can change them from a difficult job into a tactical property.
Managing payroll internationally is a daunting job due to different regulations, compliance requirements, information security issues, and banking guidelines. The sheer variety of staff members and services adds to the intricacy, with an approximated 3.5 billion individuals in the global labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Traditional payroll systems often lead to manual processes, data silos, and an absence of combination, resulting in disparities and inadequacies. In spite of living in an age of technological developments, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and services 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 just 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of an image they see a lack of exposure also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of global organizations have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with lack management and system configurations and after that when you round all of it off and the information is shipped to the wrong place the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they rely on the essential numerous 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 difficulties service face when they're making payments to workers or otherwise that's a great concern I always toss this back and state what is it what does not need to be included best and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment timespan 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 anywhere you look best ultimately constructing a knowledge base is absolutely 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 take a look at the kind 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 technology is allowing us to type of progress with that it also too to add to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely essential that payroll and financing teams work closer together than ever um I'm always surprised when people say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession 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 often 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 people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to add to sort of the level of intricacy there's a growing number of advantages being organ or being provided by services throughout the world so once again you're simply looking to add a growing number of payments to this already intricate landscape so if you type 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 difficult sort of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand 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 require to produce additional handoffs in the processes that we run in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any company has from an expense point of view from an impact perspective on employees it is definitely vital that it's done properly and on time so what we suggest 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 destructive effect on individuals's well-being and numerous other elements if people aren't paid uh I have actually constantly been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done properly so leveraging the very first International Payments first payroll payment option is a great initial step um supplying an end-to-end payroll solution for your staff members internationally once again I think is another big um process again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Global 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 don't expect to you do get the odd 5 or ten 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 do not believe any of us are in fact 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm simply I was simply gon na state envision the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task attempting to clean all those up for sure oh absolutely 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 attempt to look through them and in fact see what was going on and kind of shot to return to everybody so moving on appearance why do companies choose to main separate checking account there are services out there doing exactly this for particular nations and I have actually operated in an organization or numerous businesses doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think 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 appropriately 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 standard and the norm individuals have adopted and continue to do over years and years gone past to add to that people have actually taken a look at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a range I think this is a process that needs taking a look at it requires changing but eventually individuals are extremely stuck to what they recognize
with ideal um change is a difficult thing all of us don't like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having preserving several bank accounts but there's a huge quantity of complexity goes with setting up a bank account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific people so the intricacy is huge however I believe the truthful response is change um people haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages 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 approach does position several difficulties um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your achievements.
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