Find out more about Papaya Global Payroll Error ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and reliable technique of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Worker Website
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive benefits packages to global employees no matter the variety of workers in the company. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits providers in every country, produce local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total work expenses distributed per place, total work expenses per cycle and far more.
Globally, I have shown management and strategic know-how in assisting massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've sort of had a range of different functions on the service provider side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well among 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 interesting and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely uninspiring and I wish 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 looking at the difficulty years of handling Worldwide payroll why business keep different
Virtual payroll accounts are an alternative to standard bank accounts for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also supply a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add additional complexity the international Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 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 around the globe in the conventional payroll model there's frequently an overwhelming variety of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in large amounts and or very really fundamental there's no genuine consistency structure we're living in a period of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction almost 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 information information entry errors improperly interacted hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they rely on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges company face when they're paying 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 consisted of best and what does
it need to be considered there's differing 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 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 anywhere you look ideal ultimately constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to sort of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely vital that payroll and finance groups work closer together than ever um I'm constantly impressed when people say I have actually divided 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 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 ultimately 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 3rd parties so with the
world we live in and wellness being a growing number of essential to contribute to kind of the level of intricacy there's increasingly more advantages being organ or being offered by services across the world so again you're just wanting to add more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine challenging sort of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to produce extra handoffs while doing sos that we operate in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it needs to be agreed and appropriately as you said payroll is the single most significant liability that any organization has from an expense perspective from an impact perspective on workers it is definitely important that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful impact on individuals's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been surprised entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's seen as just a routine task. This is how it's viewed externally too. For that reason, it is vital to ensure that tasks like Wi-Fi Global and other important matters are done properly. Utilizing the very first Worldwide Payments very first payroll payment solution is a fantastic initial step towards providing a thorough payroll service for staff members worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and savings account needed for international payroll are essential consider achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as prepared. Eventually, we don't do it for the appreciation.
anyhow we understand 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 associated with those procedures and also so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job trying to clean all those up for sure oh absolutely I can't envision 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 really see what was going on and kind of shot to return to everybody so carrying on look why do business pick to primary separate savings account there are businesses out there doing precisely this for specific nations and I have actually operated in a service or many businesses doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not creating additional work for any person where we don't have to and anyone that's dealing with 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 believe many reasons one is it's the requirement I think people have got so used to we require a new bank account we open an entity and rightly so you need it for payroll purposes but 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 embraced and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it requires altering but eventually people are very stuck with what they recognize
with ideal um modification is a tough thing we all don't like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having preserving several bank accounts however there's a substantial amount of intricacy goes with establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is substantial however I think the honest answer is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you have actually struck 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 genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to keep track of and this method does pose numerous challenges um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you should have a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art