Find out more about Papaya Global Payroll Contractors ... 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 acquired a different Chief Financial Officer particularly committed to managing payments. This provides us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge international payroll management app enhances my payroll process, saving me a significant amount of time each month. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Staff member Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global workers despite the number of employees in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every nation, create local accounts and have a minimum number of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, overall work costs dispersed per location, total work expenses per cycle and much more.
Worldwide, I have demonstrated management and strategic proficiency in guiding large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for a lot of influential business worldwide we provide payroll payments and labor force management to all staff member key ins over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good night depending on where you are in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the supplier side and also on the vendor side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is 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 extremely very uninspiring and I wish I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an alternative to conventional bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of preserving different savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined 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 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 properly effectively firmly and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most importantly policies compliance data security and banking rules then there are the large numbers they add further intricacy the international Workforce is presently three 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 presently 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 standard payroll design there's typically an overwhelming number of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely really basic there's no real 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 every time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on global payroll the less of a photo they see an absence of exposure likewise reaches payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes badly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is delivered to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying 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 consisted of right and what does
it need to be considered 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 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 customer's own in-country account so there's intricacy any place you look ideal eventually building a knowledge base is definitely important but everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is enabling us to sort of move forward with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work better together than ever um I'm constantly surprised when people state I have actually split 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 a market accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high worth on well-being and the payment landscape is ending up being significantly complex. Companies are continually presenting brand-new benefits and payment choices, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause ineffectiveness and traffic jams. In my opinion, this does not need to be the case. In today's highly sophisticated era, there's no validation for keeping troublesome procedures. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small delays can negatively impact staff members' well-being and have far-reaching effects. Therefore, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the first Global Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll service for your staff members worldwide again I think is another substantial um process again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of companies and reducing 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 terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how important a function 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 procedures and also so picture sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everyone so carrying on look why do business pick to main different savings account there are services out there doing precisely this for specific nations and I've worked in a service or many businesses doing precisely that I can state it does not constantly feel efficient and it does produce more work I understand we're not deliberately doing that we're not producing extra work for anybody where we don't need 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 amount that we are I believe many factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a process that requires taking a look at it needs altering however eventually people are really stuck to what they're familiar
with right um modification is a difficult thing we all do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having keeping several savings account but there's a big quantity of intricacy chooses establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the ideal user accesses for specific people so the intricacy is substantial however I think the truthful response is change um people haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or two there is a lot to keep track of and this technique does position numerous obstacles um so Johnny could you tell us about those obstacles yeah obviously so there's a variety right there is so
I recently made a modification 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 actually gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
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