Find out more about Bayar Papaya Globals ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and trustworthy method of paying to our 10,000 workers worldwide.}
The innovative international payroll management app simplifies my payroll process, conserving me a considerable quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies provide competitive advantages packages to international employees regardless of the number of workers in the company. The business can set up medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, develop local accounts and have a minimum number of staff members.
The HR capabilities provided by International HR incorporate numerous functions such as monitoring trip time, making sure compliance, helping with the process of inviting new employees and bidding goodbye to departing ones, using a protected online platform for keeping workers' documents, and providing assistance for work allow procedures in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment costs dispersed per place, overall employment costs per cycle and a lot more.
Internationally, I have actually demonstrated management and tactical proficiency in guiding massive populations of over 100,000 staff members across 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. It's a satisfaction to fulfill you and thank you for your valuable 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 market, I have actually concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I've sort of had a range of different functions on the provider side and likewise on the vendor side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very extremely dreary and I wish I was somewhere else at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a tactical possession uh we'll also discuss a wrap-up and that should leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being a growing number of typical and handling them ends up being more and more complicated International companies are looking to find Solutions and new methods to streamline processes specifically from a payroll and cross-border payment perspective numerous organizations maintain different checking account just for payroll while some have several accounts in different countries does it make sense for business to maintain separate savings account often in various nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies enhance the episode complex procedures of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard 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 variety of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add additional complexity the global Workforce is presently 3 and a half billion people 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 organizations and growing all doing their own thing worldwide in the conventional payroll design there's often a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really really fundamental there's no genuine consistency framework we're residing in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which simply blows my mind every time I I think
about it to provide 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 invests in worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of international organizations have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors badly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what does not require to be included right and what does
it need to be thought of there's varying 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 client's own in-country account so there's complexity any place you look best ultimately constructing a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to sort of move forward with that it also as well 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 important that payroll and financing groups work closer together than ever um I'm always surprised when people say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation 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 typically 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to type of the level of intricacy there's a growing number of advantages being organ or being used by companies across the world so once again you're simply wanting to add more and more payments to this already complex landscape so if you kind 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 real difficulties or genuine challenging sort of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would absolutely state 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 details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos 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 an age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any company has from an expense point of view from an impact perspective on workers it is definitely important that it's done properly and on time so what we indicate 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 result on people's wellness and lots of other elements if individuals aren't paid uh I have actually always been surprised coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just notice when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally as well. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first Worldwide Payments first payroll payment service is a terrific initial action towards offering a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and lowering the variety of tools, platforms, and checking account essential for global payroll are crucial consider accomplishing service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we understand how how essential 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 processes and likewise so think of sorry I'm simply I was simply gon na state think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task trying to clean all those up for sure oh absolutely I can't envision 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 type of shot to return to everybody so moving on look why do companies select to main separate checking account there are companies out there doing exactly this for specific nations and I have actually operated in a business or many businesses doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we don't have to and anyone that's handling that process 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 requirement I believe people have got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I believe this is a process that requires looking at it requires altering however ultimately individuals are extremely stuck to what they're familiar
with ideal um modification is a difficult thing all of us do not like modification um so I believe it's just type 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 comprehend certainly the advantages of having maintaining numerous bank accounts but there's a substantial quantity of complexity opts for setting up a bank account preserving it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is huge however I think the sincere response is modification um individuals have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century approximately there is a lot to track and this technique does present several challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
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