Find out more about Papaya Global Owner ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and secure and reputable method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
Staff member Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits plans to international workers no matter the number of employees in the company. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages providers in every country, create local accounts and have a minimum number of staff members.
The HR capabilities provided by Worldwide HR encompass different functions such as monitoring trip time, making sure compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to leaving ones, offering a secure online platform for keeping employees' documents, and providing assistance for work allow treatments in case your employees require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per location, total employment expenses per cycle and a lot more.
Worldwide, I have shown leadership and strategic know-how in directing massive populations of over 100,000 employees across 170 countries. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a variety of various roles on the company side and likewise on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply give everyone another couple 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 rather fascinating and I can see it going on currently just 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 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 very really dreary and I want I was somewhere else at this moment in time alright so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business preserve different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is especially useful for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll checking account how business properly anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly regulations compliance data security and banking rules then there are the large numbers they add additional intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's often a frustrating number of different systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large amounts and or very extremely basic there's no genuine consistency structure we're living in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a photo they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction nearly half of international organizations have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the information is shipped to the incorrect location the average 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 money around the world payroll and payments don't run efficiently if they depend on the essential several 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 difficulties organization face when they're making payments to employees or otherwise that's a good question I constantly throw this back and say what is it what does not need to be included best and what does
it need 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 amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link 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 innovation is permitting us to kind of move forward with that it likewise as well to add to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people state 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 occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to contribute to kind of the level of complexity there's more and more benefits being organ or being used by companies throughout the world so again you're just aiming to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of years I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an age 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 agreed and rightly as you stated payroll is the single most significant liability that any service has from a cost viewpoint from an effect perspective on workers it is definitely critical that it's done properly 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 harmful result on people's wellness and numerous other factors if individuals aren't paid uh I've constantly been surprised entering into this Market kind of the last five to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anybody has 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 individuals only discover when things fail. However, when things go right, it's seen as just a regular task. This is how it's perceived externally too. For that reason, it is vital to ensure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first International Payments first payroll payment solution is a terrific preliminary step towards supplying a comprehensive payroll option for employees worldwide. Standardization, worldwide processes, and lowering the variety of tools, platforms, and checking account necessary for worldwide payroll are crucial factors in attaining service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we understand how how essential a role 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 likewise so think of sorry I'm simply I was just gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and in fact see what was going on and sort of shot to return to everybody so carrying on appearance why do companies choose to primary separate bank accounts there are companies out there doing exactly this for particular countries and I have actually operated in a service or numerous services doing precisely that I can say it does not constantly feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not have to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe people have got so used to we need a new checking 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 think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering but ultimately people are very stuck to what they're familiar
with ideal um modification is a hard thing all of us don't like modification um so I think it's simply type of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having preserving numerous checking account however there's a huge amount of intricacy chooses establishing a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is huge however I think the honest answer is change um individuals haven't had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to keep track of and this technique does position numerous difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I 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 feels like our CFO has actually gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your accomplishments.
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