Find out more about Papaya Global Payroll Integrations ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and trusted method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Staff member Website offers workers with the ability to access and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Advantages Administration
Papaya Global assists business use competitive advantages bundles to international workers despite the number 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 regional advantages providers in every nation, create regional accounts and have a minimum variety of employees.
The HR abilities supplied by Global HR include numerous functions such as keeping an eye on getaway time, making sure compliance, helping with the process of inviting brand-new staff members and bidding goodbye to leaving ones, providing a safe online platform for keeping workers' files, and offering assistance for work allow treatments in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment expenses distributed per place, total employment expenses per cycle and a lot more.
environments across the globe I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Business clients and solutions as well as functioning as a consultant for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We focus on offering payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've kind of had a variety of different roles on the company side and also on the vendor side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another couple of uh well one of 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 intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone comes 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 extremely really gloomy and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain different
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is especially helpful for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses 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 hard in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they add more intricacy the worldwide Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll model there's often an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big quantities and or extremely extremely fundamental there's no real consistency structure 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 typically with pen and paper and that simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more an organization spends on global payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of international companies have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the required several processes 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 company face when they're paying to employees or otherwise that's a good concern I always toss this back and say what is it what doesn't require to be included 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 nation 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 complexity anywhere you look best eventually constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble incredibly payments no if but some children 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 think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to type of progress with that it likewise also to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely crucial that payroll and finance groups work closer together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work 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 information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to add to type of the level of complexity there's a growing number of benefits being organ or being provided by organizations across the world so again you're simply wanting to include increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real obstacles or real tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments works 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 does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any company has from a cost point of view from an impact point of view on staff members it is definitely important that it's done properly 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 biggest harmful impact on individuals's well-being and lots of other aspects if people aren't paid uh I've constantly been surprised entering this Market kind of the last five to 10 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 been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is necessary to guarantee that tasks like Wi-Fi International and other essential matters are done properly. Utilizing the very first International Payments first payroll payment service is a great initial action towards providing a comprehensive payroll service for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and savings account needed for international payroll are key factors in achieving business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few complaints when things do not go as prepared. Eventually, we don't do it for the gratitude.
anyhow we know how how essential 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 easy as possible for everyone that's associated with those procedures and likewise so imagine sorry I'm just I was just gon na state picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and type of try to return to everyone so carrying on look why do business pick to primary separate checking account there are businesses out there doing exactly this for particular nations and I've operated in an organization or many organizations doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the requirement I think individuals have got so used to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people 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 lots of other methods um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are very stuck with what they recognize
with ideal um modification is a hard thing all of us don't like modification um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having keeping several savings account but there's a huge quantity of intricacy opts for establishing a savings account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific people so the complexity is big but I believe the sincere response is change um people haven't been able to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually 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 carrying 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 present a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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