Find out more about Papaya Global China ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and reputable approach of paying to our 10,000 staff members worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a substantial amount of time each month. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
The Employee Portal offers workers with the capability to access and view important documents 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 various languages.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global employees no matter the variety of workers in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional benefits service providers in every nation, produce regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by International HR incorporate numerous functions such as monitoring holiday time, guaranteeing compliance, assisting in the procedure of inviting new workers and bidding goodbye to leaving ones, providing a secure online platform for saving workers' documents, and providing support for work allow treatments in case your employees require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, overall employment costs dispersed per place, total work expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and tactical proficiency in assisting massive populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for overseeing payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for many influential companies worldwide we offer payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good evening depending on where you are in the world it's charming to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of various roles on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather 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 everyone originates from and I actually 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 really really uninspiring and I want I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll also review a recap which needs to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more typical and managing them ends up being a growing number of complex Worldwide organizations are aiming to discover Solutions and new ways to improve processes particularly from a payroll and cross-border payment viewpoint numerous companies maintain different savings account just for payroll while some have numerous accounts in various countries does it make sense for companies to preserve different savings account often in different nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies enhance the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly regulations compliance data security and banking guidelines then there are the large numbers they include more complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's frequently an overwhelming variety of various systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or extremely really standard there's no real consistency framework we're living in an age 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 and that just blows my mind whenever 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 Workforce data in real time that's another number that provides me sleep deprived nights and rather frankly the more a company spends on international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of global companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors poorly interacted hires and terminations as well as absence management and system setups and after that when you round all of it off and the information is delivered to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they rely on the necessary multiple processes systems and partners it is simply 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 staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't require to be consisted of ideal and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment abilities 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 consumer's own in-country account so there's intricacy wherever you look best eventually developing a knowledge base is definitely critical however everywhere you look with payroll payment they are like super 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 think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to kind of progress with that it likewise too to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry 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 people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more important to contribute to type of the level of intricacy there's more and more advantages being organ or being used by companies throughout the world so again you're just looking to add increasingly more payments to this already complex landscape so if you kind 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 challenges or real difficult sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they require 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 agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost perspective from an effect perspective on employees it is definitely critical that it's done correctly and on time so what we mean 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 result on people's well-being and numerous other elements if people aren't paid uh I have actually always been surprised entering this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific 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 all of us hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise 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 things is definitely vital that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll service for your staff members globally again I believe is another huge um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely crucial to success success of organizations and lowering the number of tools platforms and savings account they require for their International 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've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
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 easy as possible for everyone that's associated with those processes 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 sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and kind of try to get back to everyone so moving on look why do business select to primary different checking account there are businesses out there doing exactly this for particular nations and I have actually worked in a company or many organizations doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not need to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have adopted 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 variety I believe this is a process that requires taking a look at it needs altering however ultimately individuals are extremely stuck to what they're familiar
with ideal um change is a difficult thing all of us don't like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having maintaining numerous bank accounts however there's a huge amount of complexity chooses setting up a savings account keeping it ensuring it can send out International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big however I think the honest answer is change um individuals haven't had the ability to change or have not had always the knowledge to really make that change into alternate Solutions besides 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 aspect of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or two there is a lot to keep an eye on and this technique does present numerous obstacles um so Johnny might you inform us about those challenges yeah naturally 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 jobs on one platform. It seems like our CFO has actually gained another CFO, and with this improved capability, I have effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is closer, considering your accomplishments.
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