Find out more about Papaya Global Hk Limited Address ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and secure and dependable technique of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a substantial amount of time each month. With its easy to use interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Staff member Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to worldwide employees despite the variety of staff members in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, produce regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, overall employment costs dispersed per area, overall employment expenses per cycle and a lot more.
Globally, I have actually demonstrated leadership and strategic knowledge in directing massive populations of over 100,000 staff members across 170 nations. Presently, I am responsible for supervising payroll techniques, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, 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 obstacles of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various roles on the provider side and also on the vendor side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really dreary and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business preserve separate
Virtual payroll accounts are an option to conventional savings account for handling payroll payments. This is especially helpful for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most significantly guidelines compliance data security and banking guidelines then there are the large numbers they include additional complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people 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 world in the standard payroll model there's frequently a frustrating variety of different systems leading to lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely really standard there's no real consistency framework we're living in an era of tech but payroll has 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 whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more an organization invests in international payroll the less of an image they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors poorly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they depend on the needed numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles organization face when they're paying to workers or otherwise that's a good concern I constantly throw this back and state what is it what doesn't need to be consisted of ideal and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 client's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 innovation is allowing us to kind of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from estimation 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to add to kind of the level of intricacy there's more and more advantages being organ or being offered by businesses across the world so once again you're just seeking to add a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real difficulties or genuine tough sort of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from an expense viewpoint from an effect viewpoint on workers it is absolutely crucial that it's done properly 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 greatest destructive impact on individuals's wellness and many other factors if people aren't paid uh I have actually always been astonished entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done properly so leveraging the very first Global Payments very first payroll payment option is a great initial step um providing an end-to-end payroll option for your staff members worldwide again I think is another huge um procedure again lining up and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of companies and lowering the variety of tools platforms and savings account they require 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 countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we understand how how essential 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 everyone that's involved in those procedures and also so imagine 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 individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions picture getting that many thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of try to return to everybody so carrying on look why do business select to primary separate checking account there are organizations out there doing precisely this for particular nations and I have actually worked in a service or many companies doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing extra work for anyone where we don't have to and any person that's handling that process I 'd be interested to hear your ideas Johnny why do you believe 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 think people have got so used to we require a brand-new savings account we open an entity and appropriately so you require it for payroll purposes but 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 actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I believe this is a procedure that requires looking at it requires changing but eventually people are extremely stuck with what they're familiar
with best um change is a difficult thing we all do not 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 stuff um I understand clearly the advantages of having preserving numerous bank accounts but there's a big amount of intricacy opts for setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is big however I think the sincere answer is change um individuals have not been able to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century approximately there is a lot to track and this method does pose a number of difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I simply did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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