Find out more about Papaya Global Add Late Payroll ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and trustworthy approach of paying to our 10,000 employees worldwide.}
The innovative worldwide payroll management app improves my payroll procedure, saving me a substantial amount of time every month. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages bundles to global employees regardless of the number of workers in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source regional advantages companies in every country, produce regional accounts and have a minimum variety of workers.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall work expenses distributed per area, total employment expenses per cycle and far more.
Globally, I have actually demonstrated leadership and tactical know-how in guiding massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll strategies, as discussed by Mark. My function includes managing and developing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of different functions on the company side and likewise on the supplier side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort 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 kind of like see where everybody comes from and I truly 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 really really gloomy and I want I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially beneficial for international companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add further intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll model there's often a frustrating variety of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or really really basic there's no genuine consistency structure we're living in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each 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 organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal nearly half of international companies have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry errors poorly communicated hires and terminations in addition to absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they depend on the required several processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require 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 need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble super payments no if however some children 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is allowing us to kind of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of essential to add to kind of the level of complexity there's a growing number of benefits being organ or being provided by companies throughout the world so once again you're simply wanting to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real challenges or genuine challenging type of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a number of years I would certainly say that the bigger 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 in fact handling the payment side of things however you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to produce extra handoffs at the same times 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 understand that we are working in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any company has from a cost viewpoint from an effect perspective on employees it is absolutely critical that it's done correctly and on time so what we imply 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 damaging effect on people's wellness and lots of other aspects if people aren't paid uh I have actually always been impressed coming into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals just see when things fail. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi International and other essential matters are done correctly. Using the first Global Payments very first payroll payment option is an excellent initial action towards offering a thorough payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a couple of problems when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyway we know 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 involved in those processes and likewise so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely 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 require days of the week to attempt to check out them and in fact see what was going on and sort of try to return to everybody so moving on look why do companies select to primary different savings account there are businesses out there doing precisely this for specific countries and I have actually worked in a company or lots of organizations doing exactly that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not need to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think numerous reasons one is it's the standard I believe individuals have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it needs changing however ultimately people are really stuck to what they're familiar
with right um modification is a tough thing we all do not like modification um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping several bank accounts however there's a substantial amount of complexity goes with setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is substantial however I believe the honest response is change um individuals have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century or two there is a lot to monitor and this approach does position numerous difficulties um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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