Find out more about Papaya Global Payroll Calculator ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a protected and reputable method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
The Worker Website offers staff members with the capability to gain access to and view crucial files 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 numerous languages.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to worldwide staff members despite the number of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits suppliers in every country, create regional accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses dispersed per area, total employment expenses per cycle and far more.
Worldwide, I have actually shown leadership and strategic proficiency in assisting massive populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for managing payroll strategies, as mentioned by Mark. My role includes managing and developing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for many influential business worldwide we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good night depending upon where you remain in the world it's charming to fulfill you and thank you quite 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 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the service provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really very gloomy and I wish I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an option to standard checking account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently securely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in enough in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a range of reasons most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add additional complexity the global Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll model there's often an overwhelming variety of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency framework we're living in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I believe
about it to provide 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 sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a picture they see a lack of presence also reaches payroll payments and inability to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of international businesses have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors badly interacted hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they rely on the needed numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to employees or otherwise that's a great concern I always toss this back and say what is it what does not need to be consisted of ideal and what does
it need to be thought of there's varying Bank details 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is definitely critical but all over you look with payroll payment they are like incredibly 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 absolutely basic and technology is enabling us to type of move on with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely necessary that payroll and financing groups work closer together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being provided by companies throughout the world so again you're simply seeking to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real difficulties or genuine difficult sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly say that the larger a company 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 teams feeding details into the next function as it were that's really handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any organization has from a cost perspective from an impact point of view on workers it is absolutely important that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the most significant detrimental effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've always been astonished entering this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first International Payments first payroll payment solution is a fantastic first step um offering an end-to-end payroll solution for your staff members internationally once again I believe is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of businesses and reducing the number of tools platforms and savings account they require for their Global payroll too couldn't agree with you more and on the the front in regards to 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 five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how important 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 simple as possible for everyone that's associated with those processes and also so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might 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 mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task trying to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of shot to get back to everybody so moving on appearance why do companies select to main separate checking account there are companies out there doing precisely this for particular countries and I've operated in a company or many companies doing precisely that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not producing additional work for anyone where we don't have 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 lots of reasons one is it's the requirement I think people have actually got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering however eventually people are very stuck with what they recognize
with ideal um change is a difficult thing all of us don't like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having preserving several savings account however there's a big amount of intricacy opts for establishing a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is substantial but I believe the honest response is modification um people have not had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could practically be identified to be the next Century approximately there is a lot to monitor and this technique does pose several challenges um so Johnny could 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 handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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