Find out more about Who Owns Papaya Global ... 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 different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and dependable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
The Employee Portal supplies employees with the ability to gain access to and view important documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to worldwide workers despite the variety of workers in the business. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the need to source regional advantages service providers in every nation, produce regional accounts and have a minimum number of employees.
The HR capabilities provided by International HR encompass various functions such as monitoring holiday time, making sure compliance, facilitating the process of inviting new workers and bidding farewell to leaving ones, providing a protected online platform for saving workers' documents, and supplying support for work permit procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses distributed per area, overall employment expenses per cycle and a lot more.
Globally, I have demonstrated leadership and strategic proficiency in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My role involves handling and developing 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 options company.
business to make the time 100 list for most prominent business worldwide we supply payroll payments and workforce management to all staff member key ins 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 introduce yourself naturally thank you good morning great afternoon excellent night depending upon where you remain in the world it's lovely to fulfill 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 market for over ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the supplier side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind 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 sunshine is it it's not no it's it's raining here it's really really dreary and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise supply a wrap-up 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 during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most significantly regulations compliance data security and banking guidelines then there are the large numbers they include more complexity the global Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll design there's often a frustrating number of various systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large amounts and or really really basic there's no genuine consistency structure we're residing in a period of tech but payroll has been slow 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 every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of an image they see an absence of presence also extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global services 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 bad HCM information data entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the data is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they count on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles business face when they're paying to employees or otherwise that's a good question I always toss this back and state what is it what does not require to be consisted of right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's complexity anywhere you look ideal ultimately developing a knowledge base is definitely important but all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to kind of move on with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and financing teams work closer together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split 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 process it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on wellness and the compensation landscape is becoming progressively elaborate. Organizations are continuously presenting new benefits and payment alternatives, which adds to the overall intricacy. Big corporations typically divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not have to hold true. In today's technically innovative period, there's no validation for preserving cumbersome treatments. Payroll, the company's most significant cost, should be processed properly and on time. Even minor delays can negatively affect workers' well-being and have far-reaching consequences. For that reason, it's critical to focus on accurate and prompt payments.
payroll group get um so I'm not exactly sure anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle we all find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is an excellent initial step um supplying an end-to-end payroll option for your workers globally once again I believe is another big um process once again aligning and ensuring you have standardization Global procedures all of those things are definitely essential to success success of organizations and lowering the number of tools platforms and savings account they require for their International 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've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how crucial 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 everyone that's associated with those processes and also so imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job attempting to clean all those up for sure oh definitely I can't picture 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 really see what was going on and sort of try to return to everybody so proceeding look why do companies pick to primary separate checking account there are businesses out there doing exactly this for particular countries and I've worked in a business or lots of services doing precisely that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not producing additional work for any person where we do not have to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I think people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it requires altering but ultimately individuals are extremely stuck to what they're familiar
with right um modification is a hard thing we all do not like modification um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving numerous savings account however there's a big amount of complexity goes with establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the best user accesses for individual people so the intricacy is big but I think the truthful response is modification um people have not been able to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding 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 method does pose several challenges um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I simply did you changed 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 employees you deserve a corner workplace with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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