Find out more about Papaya Global Canada ... 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 different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Portal offers employees with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to global staff members regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages companies in every country, develop regional accounts and have a minimum variety of workers.
The HR abilities provided by Worldwide HR include various functions such as monitoring getaway time, guaranteeing compliance, helping with the process of welcoming brand-new employees and bidding farewell to departing ones, using a protected online platform for storing employees' documents, and providing assistance for work allow treatments in case your workers need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total work expenses distributed per location, total work expenses per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical competence in assisting large-scale populations of over 100,000 staff members across 170 countries. Presently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role involves handling and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your area. It's an enjoyment to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have always captivated me.
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I have actually sort of had a variety of different roles on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everybody 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 rather interesting and I can see it going on already just to hear where everybody is um it's nice to to sort 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 extremely dreary and I want I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up and that must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being a growing number of common and managing them ends up being more and more complex Global organizations are aiming to discover Solutions and new methods to simplify processes specifically from a payroll and cross-border payment standpoint numerous companies maintain different bank account just for payroll while some have several accounts in different countries does it make good sense for business to preserve different checking account sometimes in various countries it does however just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies simplify the episode complex processes of
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for services running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, find out how companies forecast payroll costs to enhance working capital, and find how simplifying global payroll payments can transform them from a challenging job into a tactical property.
Handling payroll globally is a complicated task due to numerous policies, compliance requirements, information security issues, and banking rules. The sheer number of employees and businesses contributes to the intricacy, with an estimated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, resulting in disparities and inadequacies. In spite of living in an era of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar aims to offer insights and options to streamline and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a picture they see an absence of presence also encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and then when you round everything off and the information is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they count on the required numerous 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 business face when they're paying to employees or otherwise that's a great question I constantly throw this back and state what is it what does not need 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 time frames 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 consumer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely important however everywhere you look with payroll payment they resemble extremely payments no if but 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 recognition that payroll payments are definitely basic and innovation is permitting us to kind of move on with that it likewise too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely vital that payroll and financing groups work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work 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 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 people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of crucial to add to type of the level of complexity there's increasingly more advantages being organ or being used by companies across the world so once again you're just wanting to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or real difficult sort of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason why we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from an expense perspective from an impact viewpoint on staff members it is definitely critical 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 biggest destructive impact on people's well-being and many other elements if people aren't paid uh I've always been impressed entering into this Market kind of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. For that reason, it is vital to make sure that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the first Worldwide Payments very first payroll payment solution is a great preliminary action towards offering an extensive payroll option for employees worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and checking account necessary for worldwide payroll are essential factors in achieving organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyway we know how how crucial a role 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 simple as possible for everyone that's associated with those processes and likewise so picture sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying 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 require days of the week to try to look through them and actually see what was going on and sort of try to get back to everyone so carrying on look why do business choose to primary different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in a service or lots of companies doing exactly 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 additional work for anybody where we do not need to and anyone that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I think people have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm the people have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing but ultimately individuals are extremely stuck with what they recognize
with right um modification is a hard thing all of us don't like modification um so I believe it's simply type of moving far from the standard 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 keeping several bank accounts but there's a big quantity of complexity opts for establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for specific people so the intricacy is huge however I think the honest answer is modification um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually constantly done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century or two there is a lot to keep track of and this technique does position several obstacles um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
Papaya Global Bangalore Office Location