Find out more about Papaya Global Chad ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and trustworthy method of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll procedure, conserving me a significant quantity of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
The Worker Portal offers employees with the ability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to international workers no matter the variety of employees in the business. The business can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source local benefits companies in every nation, create local accounts and have a minimum number of employees.
The HR abilities provided by Worldwide HR include various functions such as keeping an eye on holiday time, making sure compliance, helping with the procedure of inviting new employees and bidding farewell to leaving ones, providing a secure online platform for keeping workers' documents, and providing support for work allow procedures in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total employment expenses dispersed per place, overall employment expenses per cycle and much more.
Internationally, I have shown management and strategic knowledge in assisting massive populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for supervising payroll methods, as discussed by Mark. My function involves managing and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's a satisfaction 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 decade of experience in the payments market, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two to join all of us 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 simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 very very bleak and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to traditional savings account for handling payroll payments. This is particularly helpful for global companies with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate savings account for payroll in various countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and go over why they are ending up being a strategic possession for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business properly forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in sufficient in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a variety of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they add more intricacy the international Labor force is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 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 traditional payroll design there's often an overwhelming number of various systems resulting in lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or very very fundamental there's no genuine consistency structure 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 typically with pen and paper which simply 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 organizations state they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of an image they see an absence of visibility also extends to payroll payments and failure to properly track these payments can cause compliance accidents in the last mile of the deal nearly half of international businesses have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes badly communicated hires and terminations along with absence management and system setups and then when you round all of it off and the information is shipped to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the needed 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 obstacles service face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't require to be included best 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 country 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 customer's own in-country account so there's intricacy any place you look best ultimately building a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to sort of move on with that it likewise too to add to that payroll and financing need to work closer together um with differing Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm always amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to type of the level of intricacy there's increasingly more benefits being organ or being used by businesses throughout the world so once again you're simply wanting to include increasingly more payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or genuine challenging type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the bigger a service 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 really handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to develop additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an effect viewpoint on staff members it is definitely critical that it's done properly 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 most significant detrimental impact on people's wellness and many other elements if people aren't paid uh I have actually constantly been surprised entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is a terrific initial step um providing an end-to-end payroll service for your employees globally once again I think is another huge um process again aligning and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyway 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was just gon na say think of 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 talking about hundreds of thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying 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 look through them and in fact see what was going on and sort of shot to get back to everyone so proceeding look why do companies pick to main different savings account there are companies out there doing exactly this for specific countries and I've operated in an organization or lots of organizations doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not developing additional work for anyone where we don't need to and any person that's managing 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 amount that we are I think many factors one is it's the standard I believe people have got so used to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I believe this is a process that requires taking a look at it requires changing however ultimately people are really stuck with what they're familiar
with right um modification is a challenging thing all of us do not like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having maintaining multiple bank accounts but there's a substantial amount of intricacy opts for establishing a checking account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual people so the intricacy is substantial however I believe the truthful answer is change um individuals have not had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century approximately there is a lot to keep an eye on and this method does position a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I 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 feels like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
Papaya Global Bangalore Office Location