Find out more about Papaya Global Payroll Email Address ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, saving me a considerable amount of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
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Papaya Global helps business provide competitive benefits plans to global staff members despite the variety of workers in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every country, develop local accounts and have a minimum number of employees.
The HR capabilities supplied by International HR incorporate various functions such as keeping track of trip time, ensuring compliance, facilitating the process of welcoming brand-new workers and bidding goodbye to leaving ones, offering a protected online platform for saving employees' documents, and supplying assistance for work permit procedures in case your staff members need support in that location.
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Internationally, I have actually shown management and strategic knowledge in directing large-scale populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for many prominent business worldwide we provide payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon excellent evening depending on where you are in the world it's charming to meet 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 have actually been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I have actually kind of had a range of various roles on the supplier side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating 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 originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely bleak and I want I was elsewhere at this moment in time fine so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially useful for global companies with dispersed and remote workforces, as it streamlines the complicated process of cross-border payments. Instead of preserving different bank accounts for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical asset for payroll executives. We will likewise provide a recap 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 advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add more complexity the international Workforce is currently three and a half billion individuals 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's typically an overwhelming variety of different systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in big quantities and or extremely really basic there's no genuine 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 just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a photo they see an absence of visibility also reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global businesses 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 errors are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and say 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 details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is permitting us to type of progress with that it also as well to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work better together than ever um I'm always astonished when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to add to sort of the level of complexity there's a growing number of advantages being organ or being offered by companies throughout the world so again you're just looking to add increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine challenging type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact 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 understand long gone are the times where we need to develop additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from a cost perspective from an impact perspective on staff members it is absolutely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging impact on individuals's wellness and many other elements if people aren't paid uh I've constantly been amazed entering this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us hear about 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 workout and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment solution is a great initial step um supplying an end-to-end payroll option for your employees globally again I think is another big um process again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of services and reducing the number of tools platforms and bank accounts they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential a role 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 easy as possible for everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely 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 was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of try to get back to everybody so proceeding look why do companies pick to main separate checking account there are companies out there doing exactly this for particular countries and I've worked in a service or numerous services doing exactly that I can state it doesn't constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't need to and anyone that's handling that procedure 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 many reasons one is it's the requirement 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 number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a procedure that needs looking at it needs altering however eventually individuals are very stuck with what they're familiar
with best um modification is a hard thing all of us do not like modification um so I think it's just 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 comprehend undoubtedly the benefits of having maintaining numerous bank accounts however there's a substantial amount of intricacy chooses setting up a bank account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the complexity is huge however I think the honest response is change um people have not had the ability to alter or have not had always the understanding to really 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 an aspect of resistance to change but we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be identified to be the next Century approximately there is a lot to monitor and this approach does position numerous obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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