Find out more about Streamlining Hr Operations Affordably With Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and trustworthy approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Employee Website offers employees with the capability to gain access to and view essential documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international staff members despite the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local advantages providers in every nation, create regional accounts and have a minimum number of workers.
The HR capabilities supplied by Worldwide HR encompass numerous functions such as keeping track of getaway time, guaranteeing compliance, helping with the process of welcoming brand-new staff members and bidding farewell to leaving ones, providing a secure online platform for keeping workers' documents, and offering assistance for work permit procedures in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall work costs dispersed per location, total work expenses per cycle and far more.
Internationally, I have demonstrated management and strategic expertise in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
business to make the time 100 list for most influential companies in the world we supply payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon great evening depending upon where you remain in the world it's charming to fulfill you and thank you quite 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 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of different roles on the provider side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well among 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 fascinating 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 comes from and I really 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 very gloomy and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business preserve different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll also review a recap which needs to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them becomes more and more complicated Global organizations are seeking to find Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment standpoint many organizations maintain separate savings account just for payroll while some have several accounts in various countries does it make sense for companies to maintain different checking account often in various countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies improve the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex challenge for companies operating internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to optimize working capital, and find how streamlining global payroll payments can change them from a burdensome task into a strategic possession.
Managing payroll internationally is a challenging job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer number of workers and businesses adds to the complexity, with an estimated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, leading to disparities and inefficiencies. Despite living in an era of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and options to simplify and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on international payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is shipped to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is definitely crucial however all over you look with payroll payment they are like super 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to type of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm constantly surprised when individuals say I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by organizations throughout the world so once again you're simply wanting to include more and more payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of real obstacles or real difficult sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you understand in in my opinion and my experience that does not always require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we operate in they simply make them more prompt 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 understand that we are working in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from a cost perspective from an effect perspective on employees it is definitely crucial 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 need to be done right it has the biggest detrimental result on individuals's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed entering into this Market type of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only notice when things fail. Nevertheless, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. Therefore, it is essential to make sure that jobs like Wi-Fi International and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment service is a terrific preliminary step towards offering a thorough payroll option for staff members worldwide. Standardization, global procedures, and reducing the number of tools, platforms, and bank accounts required for worldwide payroll are essential factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we understand how how crucial 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 simple as possible for everybody that's associated with those procedures and likewise so imagine sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean up 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 try to browse them and in fact see what was going on and sort of try to return to everybody so carrying on appearance why do business pick to main different savings account there are businesses out there doing precisely this for specific countries and I've worked in a company or numerous businesses doing exactly that I can state it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing additional work for anybody where we do not need to and anybody that's dealing with that process 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 numerous reasons one is it's the requirement I think individuals have actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing but ultimately people are really stuck with what they're familiar
with right um change is a challenging thing we all do not like change um so I think it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping numerous bank accounts however there's a big amount of intricacy goes with setting up a savings account preserving it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I think the honest answer is change um individuals have not had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter however we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this method does position a number of challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I just 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 effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your achievements.
Papaya Global Bhutan