Find out more about Papaya Global Jp Morgan ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly committed to handling payments. This offers us with a protected and reliable approach of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Employee Portal provides workers with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to global staff members no matter the number of staff members in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages providers in every country, create local accounts and have a minimum number of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment costs distributed per area, total work expenses per cycle and a lot more.
Globally, I have actually demonstrated management and tactical know-how in assisting massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role includes handling and developing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and workforce management services to employees 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 area. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, 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 complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've sort of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everybody is um it's nice to to type 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 sunlight is it it's not no it's it's drizzling here it's extremely extremely gloomy and I want I was somewhere else at this moment in time alright 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 Worldwide payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll also discuss a wrap-up which needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them ends up being increasingly more complicated Worldwide companies are wanting to discover Solutions and new methods to streamline processes particularly from a payroll and cross-border payment perspective numerous organizations keep different savings account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep different checking account often in various nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies streamline the episode complex processes of
Making sure precise, efficient, and timely payroll payments is a complex difficulty for organizations running internationally. Join us for a webinar to check out the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies forecast payroll expenses to enhance working capital, and find how improving global payroll payments can change them from a difficult task into a tactical property.
Managing payroll internationally is a daunting task due to numerous guidelines, compliance requirements, information security concerns, and banking guidelines. The sheer variety of staff members and services contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 million of whom remain in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual processes, data silos, and a lack of combination, leading to inconsistencies and inefficiencies. Despite residing in an age of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, often using pen and paper. This webinar objectives to offer insights and solutions to streamline and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization spends on worldwide payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of international organizations have actually revealed that they do not 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 bad HCM data information entry mistakes badly interacted hires and terminations as well as lack management and system setups and after that when you round everything off and the information is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not need to be consisted of ideal and what does
it require to be thought about there's varying 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 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 consumer's own in-country account so there's intricacy any place you look best ultimately building a knowledge base is definitely vital but everywhere you look with payroll payment they are like incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 fundamental and technology is permitting us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to contribute to type of the level of intricacy there's a growing number of advantages being organ or being used by businesses across the world so again you're simply seeking to add a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real challenges or genuine difficult type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions 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 understand in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos 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 an age that you know that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an impact point of view on workers it is absolutely crucial that it's done correctly 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 greatest damaging effect on individuals's well-being and many other aspects if people aren't paid uh I have actually always been amazed entering this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only notice when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's viewed externally also. For that reason, it is essential to ensure that tasks like Wi-Fi International and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment service is a great initial action towards providing a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and savings account necessary for worldwide payroll are essential consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of complaints when things do not go as prepared. Ultimately, we don't do it for the appreciation.
anyway 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 simple as possible for everyone that's involved in those processes and likewise so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing 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 require days of the week to attempt to look through them and really see what was going on and sort of shot to get back to everyone so moving on look why do companies select to main different checking account there are businesses out there doing exactly this for specific nations and I have actually operated in a business or numerous organizations doing precisely that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for anyone where we don't need to and any person that's managing 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 factors one is it's the requirement I believe people have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted 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 methods um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs changing however eventually individuals are really stuck with what they're familiar
with best um change is a challenging thing all of us do not like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having preserving several savings account however there's a huge amount of complexity goes with establishing a savings account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is huge but I believe the truthful response is change um people have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually always done it that way is no genuine 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 determined to be the next Century approximately there is a lot to monitor and this method does position several challenges um so Johnny could you inform us about those challenges yeah naturally 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 handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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