Find out more about Papaya Global Payroll Video ... 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 acquired a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers workers with the capability to gain access to and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies offer competitive advantages packages to worldwide staff members despite the number of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local advantages providers in every country, create local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce variety, overall work expenses distributed per place, overall work expenses per cycle and much more.
Globally, I have actually shown management and strategic proficiency in assisting large-scale populations of over 100,000 workers across 170 countries. Presently, I are accountable for managing payroll methods, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for many influential business on the planet we offer payroll payments and labor force management to all employee 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 present yourself naturally thank you good morning good afternoon good night depending on where you are in the world it's lovely to meet 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've remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different roles on the supplier side and likewise on the supplier side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it is 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 gloomy and I wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies maintain different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is particularly helpful for global companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets use a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are becoming a tactical possession for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing precise, effective, and timely payroll payments is a complex obstacle for companies running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll bank accounts, find out how companies forecast payroll expenses to enhance working capital, and discover how improving international payroll payments can change them from a troublesome task into a strategic property.
Managing payroll worldwide is a challenging job due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer number of employees and businesses adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual processes, information silos, and a lack of integration, leading to disparities and inadequacies. Regardless of living in an age of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and options to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a company spends on global payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of international businesses have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes badly communicated hires and terminations as well as lack management and system configurations and after that when you round everything off and the information is shipped to the wrong location the typical cost 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 depend on the necessary multiple procedures 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 obstacles service face when they're paying to employees or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be included best and what does
it need 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 time frames 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 customer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of progress with that it also too to contribute to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and finance groups work more detailed together than ever um I'm always surprised when people state I've split 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 split the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more crucial to contribute to type of the level of complexity there's more and more benefits being organ or being provided by organizations across the world so again you're just wanting to add increasingly more payments to this currently complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough type 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 business 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 info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from a cost point of view from an effect perspective on workers it is definitely vital that it's done correctly and on time so what we indicate 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 destructive impact on people's well-being and many other elements if individuals aren't paid uh I have actually always been surprised coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle all of us hear about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think 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 definitely vital that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your workers worldwide again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely essential to success success of businesses and lowering the number of tools platforms and bank accounts they need for their International 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 had a hundred countless them within a payroll cycle do not 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 quite 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 function 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 everyone that's associated with those procedures and likewise so imagine sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and type of try to get back to everyone so proceeding look why do business select to primary separate checking account there are services out there doing exactly this for particular countries and I have actually operated in a business or many companies doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for anybody where we don't need to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I think people have got so used to we need a new bank account we open an entity and appropriately so you need 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 individuals have embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a process that requires taking a look at it needs changing but ultimately individuals are really stuck to what they recognize
with best um change is a tough thing we all do not like modification um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping several checking account however there's a huge quantity of intricacy chooses setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is big however I think the sincere answer is modification um individuals have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to monitor and this approach does pose several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you changed our Business 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 International staff members you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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