Find out more about Papaya Global Employee Benefits ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and secure and dependable approach of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app simplifies my payroll process, saving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Worker Portal supplies workers with the ability to gain access to and view crucial documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to international employees regardless of the number of workers in the company. The business can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every country, develop local accounts and have a minimum number of workers.
The HR abilities provided by Worldwide HR encompass different functions such as keeping an eye on trip time, guaranteeing compliance, assisting in the process of inviting brand-new staff members and bidding goodbye to departing ones, offering a secure online platform for saving employees' files, and providing assistance 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 labor force costs, workforce diversity, total employment costs dispersed per place, total employment expenses per cycle and a lot more.
Worldwide, I have demonstrated leadership and strategic expertise in directing massive populations of over 100,000 employees across 170 countries. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My role involves managing and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We concentrate on providing payroll and workforce management services to employees 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, no matter your area. It's an enjoyment to fulfill 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 industry, I have concentrated on payroll and payment services for the past 7 years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I really 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 raining here it's very extremely uninspiring and I want I was somewhere else at this moment in time alright 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 Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll likewise review a wrap-up which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them becomes a growing number of complex Global companies are wanting to find Solutions and new methods to simplify processes specifically from a payroll and cross-border payment viewpoint numerous companies maintain separate checking account just for payroll while some have multiple accounts in different countries does it make sense for business to keep different checking account sometimes in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in enough in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most importantly regulations compliance information security and banking rules then there are the sheer numbers they add more complexity the global Labor force is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 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 often an overwhelming number of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or really really basic there's no genuine consistency structure we're living in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction nearly half of global organizations have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors poorly communicated hires and terminations along with absence management and system setups and after that when you round all of it off and the data is delivered to the wrong place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles business face when they're paying to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be consisted of ideal 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 nation there's payment time frames 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 consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing teams work better together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market 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 but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to kind of the level of complexity there's a growing number of advantages being organ or being offered by services throughout the world so once again you're just seeking to include more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm 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 think yeah I indicate over the last well yeah a couple of years I would definitely say that the bigger a service 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 teams feeding info into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not necessarily require to be the case you understand long gone are the times where we need to develop additional handoffs in the processes that we run 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 an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from an expense viewpoint from an impact viewpoint on employees it is absolutely 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 have to be done right it has the biggest harmful effect on people's well-being and numerous other aspects if people aren't paid uh I have actually always been impressed entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a terrific primary step um supplying an end-to-end payroll option for your staff members internationally again I think is another substantial um process once again lining up and ensuring you have standardization Global processes all of those things are definitely key to success success of services and minimizing the number of tools platforms and bank accounts they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle do not anticipate 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 meant to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know how how important a function 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 everybody that's involved in those processes and likewise so envision sorry I'm just I was just gon na say think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture 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 a fascinating job trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to get back to everyone so proceeding appearance why do companies choose to primary different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in an organization or lots of companies doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person where we don't have to and any person that's managing that process 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 think numerous reasons one is it's the standard I believe individuals have actually got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually 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 methods um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it needs changing but eventually people are really stuck to what they're familiar
with best um change is a challenging thing all of us don't like change um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having maintaining multiple savings account but there's a substantial quantity of intricacy opts for setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific people so the complexity is huge however I think the sincere response is change um people haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century approximately there is a lot to monitor and this method does posture a number of challenges um so Johnny could you inform us about those obstacles yeah of course so there's a variety right there is so
I just did you changed 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 workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location