Find out more about Papaya Global Krakow Opinie ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and trusted method of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
The Staff member Portal offers staff members with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to global workers regardless of the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work costs dispersed per location, total work costs per cycle and a lot more.
Internationally, I have shown leadership and strategic knowledge in assisting large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role includes handling and establishing external partnerships, supporting Enterprise customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to satisfy 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 decade of experience in the payments market, I have focused on payroll and payment services for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a variety of various roles on the provider side and also on the vendor side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind 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 sunlight is it it's not no it's it's raining here it's really really bleak and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up and that must leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and managing them ends up being a growing number of complex International companies are looking to discover Solutions and new ways to improve processes particularly from a payroll and cross-border payment standpoint numerous organizations preserve different checking account just for payroll while some have several accounts in different countries does it make good sense for business to keep separate savings account sometimes in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business streamline the episode complex procedures of
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in enough in one country however when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most importantly regulations compliance information security and banking rules then there are the large numbers they add more complexity the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 around the globe in the conventional 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 amounts and or extremely really basic there's no genuine consistency structure we're residing 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 and that just 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 just 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of global companies have revealed that they don't 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 information information entry mistakes improperly communicated hires and terminations along with lack management and system setups and then when you round everything off and the data is shipped to the wrong place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the needed several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to staff members or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be consisted of best and what does
it require to be considered 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 customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is definitely vital however all over you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 essential and innovation is allowing us to type of progress with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you walk down the street and asked anyone 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 typically 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 anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being offered by organizations throughout the world so once again you're just aiming to include a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine challenges or genuine difficult kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly say that the larger a company 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 information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we require to create additional handoffs in the processes that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in an age 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 concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost point of view 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 result on people's well-being and many other elements if people aren't paid uh I've constantly been amazed entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not exactly sure 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 employees or not um however ultimately payroll is such an essential cycle all of us find out about it when it fails everyone 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done correctly so leveraging the first International Payments first payroll payment solution is a great first step um supplying an end-to-end payroll service for your employees worldwide again I think is another big um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely key to success success of businesses and minimizing the variety of tools platforms and savings account 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 have actually never had a hundred thousand of them within a payroll cycle do not 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 quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how essential a role 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 easy as possible for everyone that's involved in those processes and likewise so imagine sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that numerous 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 an interesting job trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and really see what was going on and type of try to get back to everyone so proceeding look why do companies pick to primary separate bank accounts there are services out there doing precisely this for specific countries and I have actually operated in a company or numerous services doing precisely that I can say it does not always feel effective and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anybody where we don't need to and anyone 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 requirement I think individuals have actually got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but 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 adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a variety I think this is a process that requires taking a look at it requires changing however ultimately individuals are really stuck with what they recognize
with best um change is a challenging 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 comprehend certainly the benefits of having maintaining several checking account but there's a huge quantity of intricacy goes with establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual individuals so the complexity is huge but I believe the honest response is modification um people haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be determined to be the next Century or so there is a lot to track and this approach does position several obstacles um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this enhanced ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
Papaya Global Bangalore Office Location