Find out more about Papaya Global Australia ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This supplies us with a protected and dependable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to worldwide employees no matter the number of workers in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every country, produce 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 workers' files and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work costs distributed per area, overall work expenses per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across business handling and building external relationships supporting Enterprise clients and services as well as functioning as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on 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 present himself. Good day to all, no matter your location. It's a pleasure to meet 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 obstacles of this field have always mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually type of had a variety of different roles on the service provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating 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 everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep separate
Virtual payroll accounts are an option to standard savings account for managing payroll payments. This is especially helpful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in various nations, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one country however when you're doing it internationally it's next level and Beyond it becomes complex for a variety of factors most notably guidelines compliance information security and banking rules then there are the sheer numbers they add further complexity the worldwide Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people 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 all over the world in the traditional payroll model there's often an overwhelming number of different systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or very extremely basic there's no genuine consistency framework we're residing in a period of tech but payroll has actually 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 each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction nearly half of global organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to employees or otherwise that's an excellent concern I always toss 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 varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and technology is enabling us to kind of move on with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely important that payroll and financing groups work better together than ever um I'm always impressed when individuals say I have actually split payroll and payment um if you walk 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 a market 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 individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
The contemporary world places a high worth on well-being and the settlement landscape is becoming increasingly complex. Companies are constantly presenting new advantages and payment choices, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my viewpoint, this does not have to hold true. In today's highly sophisticated period, there's no justification for keeping troublesome treatments. Payroll, the business's most significant expense, must be processed properly and on time. Even small hold-ups can negatively impact workers' wellness and have significant effects. For that reason, it's important to prioritize accurate and prompt payments.
The payroll group might not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be excellent to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people just observe when things go wrong. However, when things go right, it's seen as just a routine job. This is how it's perceived externally also. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other crucial matters are done properly. Using the first Worldwide Payments first payroll payment service is a fantastic preliminary action towards providing a thorough payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and checking account essential for worldwide payroll are crucial factors in achieving organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we know how how essential a role 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 simple as possible for everybody that's involved in those processes and likewise so picture sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands potentially Millions imagine getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing job attempting 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 require days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everyone so proceeding look why do business pick to main different checking account there are organizations out there doing exactly this for particular countries and I've worked in a business or lots of businesses doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not creating extra work for anyone where we do not have to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe 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 think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think 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 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 think this is a process that needs looking at it needs changing however ultimately individuals are extremely stuck with what they're familiar
with best um modification is a challenging thing we all do not like change um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having keeping multiple checking account however there's a huge amount of intricacy opts for setting up a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is huge but I believe the truthful answer is change um people have not had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I think it is knowledge 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 taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or two there is a lot to monitor and this approach does pose numerous difficulties um so Johnny might you tell us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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