Find out more about Papaya Global Payroll Unemployment Insurance ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trusted technique of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
The Worker Website offers workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to global employees despite the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional advantages companies in every nation, produce local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, overall employment expenses distributed per location, overall employment costs per cycle and a lot more.
Globally, I have demonstrated leadership and strategic proficiency in directing large-scale populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as pointed out by Mark. My role includes managing and developing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for the majority of influential companies in the world we provide payroll payments and labor force management to all employee key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon excellent evening depending upon where you are in the world it's charming to satisfy you and thank you very much 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 ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a variety of various functions on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather 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 everyone comes from and I actually 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 extremely extremely bleak and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies keep different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one country but when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most notably guidelines compliance data security and banking guidelines then there are the large numbers they include further complexity the international Workforce is presently 3 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 consider that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll model there's typically a frustrating variety of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or very extremely basic there's no genuine consistency framework 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 frequently with pen and paper and that just blows my mind each time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data 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 an image they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide businesses have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations in addition to lack management and system configurations and after that when you round everything off and the information is delivered to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they depend on the required multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're making payments to staff members or otherwise that's a great concern I always toss this back and say what is it what does not require to be included best 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 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 have to pay from the consumer's own in-country account so there's intricacy anywhere you look right eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to sort of move on with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and financing groups work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation 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 procedure it's the point of information collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
The contemporary world puts a high value on well-being and the compensation landscape is becoming significantly intricate. Services are continually introducing new benefits and payment options, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into different groups, which can result in ineffectiveness and traffic jams. In my viewpoint, this does not need to be the case. In today's highly advanced age, there's no reason for maintaining troublesome procedures. Payroll, the company's most significant expense, need to be processed correctly and on time. Even minor delays can adversely impact workers' wellness and have far-reaching effects. Therefore, it's crucial to focus on accurate and timely payments.
The payroll team might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be terrific 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 viewed as just a regular job. This is how it's viewed externally also. For that reason, it is vital to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the first Global Payments first payroll payment solution is a fantastic initial step towards offering an extensive payroll option for workers worldwide. Standardization, worldwide processes, and reducing the variety of tools, platforms, and savings account necessary for international payroll are essential consider accomplishing organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things don't go as prepared. Ultimately, we do not do it for the gratitude.
anyhow 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 everybody that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job trying to clean all those up for sure oh absolutely 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 try to look through them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies pick to primary different savings account there are services out there doing precisely this for specific nations and I've worked in a business or lots of organizations doing precisely that I can say it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not creating additional work for anybody where we don't need to and any person 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 amount that we are I think lots of factors one is it's the standard I believe individuals have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires altering however eventually people are very stuck to what they're familiar
with ideal um change is a challenging thing we all do not like change um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having maintaining several checking account but there's a substantial quantity of complexity opts for setting up a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is big but I believe the sincere answer is change um people haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century or so there is a lot to monitor and this approach does position numerous obstacles um so Johnny could you inform us about those difficulties yeah obviously 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 manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your achievements.
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