Find out more about Papaya Global Online Booking And Payroll ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and reputable approach of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Employee Portal provides workers with the capability 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 devices and is provided in numerous languages.
Advantages Administration
Papaya Global assists business offer competitive benefits packages to global employees regardless of the number of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source local advantages companies in every country, produce local accounts and have a minimum number of employees.
The HR capabilities offered by International HR incorporate different functions such as keeping an eye on holiday time, ensuring compliance, assisting in the process of welcoming new workers and bidding farewell to leaving ones, using a safe and secure online platform for keeping employees' files, and supplying support for work allow treatments in case your employees require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, overall work costs dispersed per location, total work expenses per cycle and far more.
Worldwide, I have actually demonstrated management and tactical competence in guiding massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for managing payroll techniques, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Enterprise customers, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a range of different roles on the service provider side and also on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly 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 really gloomy and I wish I was elsewhere at this moment in time alright 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 managing International payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it streamlines the complex procedure of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will also offer 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 stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business precisely forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most notably regulations compliance information security and banking guidelines then there are the sheer numbers they include more complexity the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll model there's often a frustrating number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or really really standard there's no genuine consistency framework we're residing in a period of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of an image they see a lack of exposure also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry errors inadequately communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is shipped to the wrong place the typical cost 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 globe payroll and payments do not run smoothly if they depend on the required numerous processes systems and partners it is simply not possible so Johnny from a payments viewpoint 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 question I constantly toss this back and say what is it what doesn't need to be included right and what does
it require to be thought about there's differing Bank details 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is absolutely important however all over you look with payroll payment they are like super payments no if however some infants 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 recognition that payroll payments are definitely fundamental and technology is allowing us to kind of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely important that payroll and finance teams work closer together than ever um I'm always impressed 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 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 people any place 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 essential to contribute to kind of the level of complexity there's more and more advantages being organ or being used by services throughout the world so once again you're simply aiming to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine tough sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily require to be the case you know 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 effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from a cost viewpoint from an impact point of view on workers it is absolutely crucial that it's done correctly and on time so what we mean 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 harmful effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've constantly been impressed entering into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has been told 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 employees or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong 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 likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the very first International Payments very first payroll payment solution is a great first step um offering an end-to-end payroll service for your staff members globally again I think is another substantial um process once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of companies and decreasing the variety of tools platforms and checking account they require for their Worldwide 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 simple as possible for everyone that's involved in those procedures and also so picture sorry I'm simply I was just gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task 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 browse them and in fact see what was going on and sort of shot to return to everyone so moving on look why do companies choose to primary different checking account there are companies out there doing exactly this for particular countries and I've worked in a company or numerous organizations doing precisely that I can state it doesn't always feel efficient and it does produce more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't need to and any person 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 think many reasons one is it's the standard I believe people have actually got so used to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that needs looking at it needs changing but eventually individuals are very stuck with what they're familiar
with right um change is a challenging thing we all don't like modification um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having maintaining multiple bank accounts but there's a substantial quantity of intricacy opts for establishing a bank account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual people so the complexity is big however I think the honest response is change um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this technique does present several difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a variety 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 jobs on one platform. It feels like our CFO has gained another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your achievements.
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