Find out more about Papaya Global Wallis & Futuna ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to handling payments. This supplies us with a protected and dependable method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Worker Website offers employees with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business offer competitive benefits bundles to worldwide employees no matter the variety of workers in the business. The business can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every country, produce regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall work costs dispersed per place, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated leadership and strategic expertise in guiding large-scale populations of over 100,000 employees across 170 nations. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function involves handling and developing external partnerships, supporting Business customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet 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 focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 very really gloomy and I wish I was somewhere else at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies preserve separate
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is particularly beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complex process of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a tactical possession for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they add additional intricacy the worldwide Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 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 world in the traditional payroll model there's often an overwhelming number of different systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely really basic there's no real consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a service spends on global payroll the less of an image they see a lack of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of international companies have actually revealed 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 because of time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as absence management and system setups and then when you round it all off and the data is shipped to the wrong place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as 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 needed numerous procedures 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 obstacles business face when they're making payments to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought of 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look ideal ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to sort of move forward with that it likewise too to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 procedure it's the point of data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on well-being and the payment landscape is becoming progressively intricate. Organizations are continuously presenting new advantages and payment choices, which adds to the total intricacy. Big corporations typically divide their payroll and payment processing into different groups, which can result in ineffectiveness and bottlenecks. In my opinion, this does not have to hold true. In today's highly sophisticated period, there's no justification for maintaining cumbersome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even slight delays can adversely affect employees' well-being and have significant repercussions. Therefore, it's vital to prioritize accurate and prompt payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. Therefore, it is essential to ensure that tasks like Wi-Fi Worldwide and other vital matters are done properly. Utilizing the first International Payments very first payroll payment service is an excellent initial action towards providing an extensive payroll service for workers worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts needed for international payroll are key consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow 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 associated with those processes and also so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of 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 an interesting task attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and sort of try to return to everybody so proceeding look why do business choose to primary different savings account there are businesses out there doing precisely this for specific nations and I have actually operated in a company or many businesses doing precisely that I can say it does not constantly feel effective and it does produce more work I know we're not intentionally doing that we're not creating additional work for anybody where we do not need to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think individuals have got so used to we require a new checking account we open an entity and appropriately so you need it for payroll functions but 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 embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I believe this is a procedure that requires taking a look at it needs altering but ultimately individuals are extremely stuck with what they recognize
with right um modification is a difficult thing we all do not like change um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving multiple bank accounts but there's a huge quantity of complexity chooses setting up a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the ideal user accesses for individual individuals so the intricacy is big but I think the sincere response is modification um people have not been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could nearly be identified to be the next Century or so there is a lot to monitor and this approach does present numerous challenges um so Johnny could you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you changed our Business 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 employees you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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