Find out more about Papaya Global Payroll Clover ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and dependable technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Website provides staff members with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to global workers no matter the variety of staff members in the company. The business can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local benefits service providers in every country, produce local accounts and have a minimum number of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, total employment expenses dispersed per place, overall work expenses per cycle and a lot more.
Internationally, I have demonstrated management and strategic knowledge in directing massive populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually kind of had a variety of different roles on the supplier side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates 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 very extremely gloomy and I want I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve separate
Virtual payroll accounts are an alternative to conventional checking account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic asset 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.
Ensuring accurate, effective, and prompt payroll payments is a complex obstacle for organizations running internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how companies anticipate payroll costs to enhance working capital, and discover how improving global payroll payments can transform them from a challenging job into a strategic possession.
Managing payroll internationally is a complicated job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer number of staff members and businesses adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Standard payroll systems often lead to manual procedures, information silos, and a lack of combination, causing disparities and inefficiencies. In spite of residing in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar goals to offer insights and solutions to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a company invests in international payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they rely on the necessary multiple 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 obstacles business face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not require to be included ideal 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 amount of time there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy anywhere you look ideal ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is allowing us to kind of move on with that it also as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely vital that payroll and finance teams work more detailed together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of complexity there's more and more benefits being organ or being used by services across the world so once again you're just seeking to include increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine difficult sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would certainly say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason that we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any business has from a cost viewpoint from an impact viewpoint on employees it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging result on individuals's well-being and lots of other aspects if individuals aren't paid uh I've constantly been impressed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong but 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 definitely crucial that all of this stuff is done properly so leveraging the first International Payments very first payroll payment service is a great first step um supplying an end-to-end payroll service for your workers globally again I think is another huge um procedure again lining up and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of services and decreasing the number of tools platforms and bank accounts 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 had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't 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 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 easy as possible for everybody that's involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and really see what was going on and sort of shot to get back to everyone so moving on look why do business pick to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I have actually operated in an organization or many organizations doing exactly that I can say it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anybody where we do not have to and anyone 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 many factors one is it's the requirement I believe people have got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it requires altering but eventually people are extremely stuck to what they're familiar
with ideal um modification is a challenging thing all of us don't like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having maintaining several savings account but there's a substantial quantity of intricacy goes with setting up a checking account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is huge but I think the truthful answer is modification um individuals have not been able to alter or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to keep an eye on and this technique does position a number of difficulties um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a change to our Business 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 actually gained another CFO, and with this boosted capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is closer, considering your achievements.
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