Find out more about Papaya Global Bangalore Office Location ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and reliable technique of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to worldwide staff members despite the variety of staff members in the company. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR incorporate numerous functions such as keeping track of getaway time, guaranteeing compliance, assisting in the process of inviting new staff members and bidding goodbye to departing ones, offering a protected online platform for storing employees' files, and supplying support for work permit procedures in case your employees need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work costs distributed per place, overall employment expenses per cycle and much more.
environments across the globe I provided leadership and strategy 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 managing and building external relationships supporting Business clients and options along with acting as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I've type of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint 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 everybody another number of uh well one of 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 intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone originates 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 raining here it's really very gloomy and I wish I was elsewhere at this moment in time okay so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business preserve different
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 labor forces, as it streamlines the intricate process of cross-border payments. Instead of keeping separate bank accounts for payroll in different nations, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are ending up being a tactical possession for payroll executives. We will also offer a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business 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 difficult in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance data security and banking rules then there are the large numbers they add more intricacy the global Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the standard payroll model there's frequently a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big amounts and or very really standard there's no genuine consistency framework we're residing in a period 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 typically with pen and paper and that 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 just 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a company spends on international payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the incorrect place the average cost of a global information 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 do not run efficiently if they depend on the needed numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties business face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be included best and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the client's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to type of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm constantly surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation 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 information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more essential to contribute to type of the level of complexity there's a growing number of benefits being organ or being provided by companies across the world so again you're just seeking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real obstacles or real tough sort of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs in the processes that we run in they just make them more prompt they make them less effective and they don't 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 why we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost viewpoint from an effect point of view on staff members it is absolutely critical 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 damaging effect on people's well-being and numerous other factors if individuals aren't paid uh I've constantly been surprised entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort 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 however eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment service is a terrific primary step um offering an end-to-end payroll solution for your staff members globally again I think is another huge um process once again aligning and guaranteeing you have standardization International procedures all of those things are absolutely key to success success of services and decreasing the variety of tools platforms and checking account they need for their Global 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 thousand of 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 grievances where things have not gone rather where they're suggested to be um I don't think any of us are in fact doing that for for the thanks
anyhow we know 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 also so imagine sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be an intriguing task attempting to clean 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 attempt to browse them and really see what was going on and type of try to return to everybody so proceeding appearance why do business pick to primary separate savings account there are companies out there doing exactly this for particular countries and I've worked in a company or lots of organizations doing exactly that I can say it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not developing additional work for anybody where we do not need to and any person that's managing 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 think lots of reasons one is it's the standard I think people have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I think this is a procedure that needs looking at it requires changing however ultimately people are really stuck to what they recognize
with ideal um modification is a tough thing we all do not like change um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having preserving multiple bank accounts but there's a big amount of intricacy chooses establishing a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is big however I believe the sincere response is change um people have not been able to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century approximately there is a lot to track and this technique does position a number of difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I just did you switched our Business 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 workers you are worthy of a corner office with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you