Find out more about Papaya Global Payroll Checklist ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Staff member Website supplies workers with the capability to gain access to and view important 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 numerous languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages bundles to global staff members despite the number of employees in the business. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional benefits providers in every nation, develop local accounts and have a minimum variety of employees.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment expenses dispersed per area, total work expenses per cycle and far more.
environments around the world I provided management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Business clients and solutions along with functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've sort of had a range of various roles on the service provider side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everyone 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 rather interesting 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 everybody comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really very uninspiring and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies maintain separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially helpful for international organizations with dispersed and remote workforces, as it simplifies the complex process of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging 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 factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's often a frustrating number of various systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in large amounts and or really extremely basic there's no real consistency framework we're residing in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply 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 only 11 of companies say they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on international payroll the less of an image they see a lack of exposure also reaches payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of global services have revealed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly interacted hires and terminations in addition to lack management and system setups and after that when you round everything off and the information is shipped to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they count on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 consumer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to type of move forward with that it likewise as well to add to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals say I have actually divided 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 divide the payroll payment from estimation 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 data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to add to kind 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 simply seeking to include a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real challenges or real challenging kind of pay uses 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 an organization 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 actually managing the payment side of things however you understand in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to develop extra handoffs at the same times that we run in they just make them more prompt 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 we are still making this as difficult as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from a cost point of view from an effect viewpoint on employees it is definitely important 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 biggest harmful effect on individuals's wellness and many other factors if people aren't paid uh I have actually always been surprised entering this Market type of the last 5 to ten years is how little thanks the
The payroll group might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the very first Worldwide Payments very first payroll payment service is a fantastic initial step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and bank accounts essential for global payroll are essential factors in achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Ultimately, we don't do it for the thankfulness.
anyway we understand how how crucial a role 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 everybody that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to return to everybody so moving on look why do business pick to primary separate savings account there are services out there doing precisely this for specific countries and I've worked in a service or many organizations doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not developing additional work for anyone where we don't have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you think 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 people have got so used to we require 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 think it's just been the requirement and the norm individuals have adopted 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 kind of do it so I believe there's a variety I think this is a procedure that requires looking at it requires altering however ultimately individuals are really stuck with what they're familiar
with right um modification is a tough thing all of us do not like change um so I believe 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 undoubtedly the advantages of having keeping numerous savings account but there's a big quantity of intricacy opts for setting up a bank account keeping it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the complexity is big but I believe the truthful answer is change um people have not been able to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always 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 figured out to be the next Century or so there is a lot to keep track of and this technique does pose several obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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