Find out more about Papaya Global Launcher Not Working ... 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 actually gotten a separate Chief Financial Officer particularly devoted to managing payments. This supplies us with a safe and trustworthy approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Employee Portal
Workers have access to an Employee Portal where they can view their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to worldwide workers no matter the variety of employees in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source local advantages providers in every nation, produce local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total employment expenses dispersed per area, total employment expenses per cycle and far more.
Globally, I have actually demonstrated leadership and strategic proficiency in guiding massive populations of over 100,000 staff members throughout 170 nations. Presently, I am responsible for managing payroll methods, as discussed by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present 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 company. With over a decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I've sort of had a variety of different roles on the supplier side and also on the supplier side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so 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 interesting and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everyone comes from and I actually 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 very really gloomy and I wish I was somewhere else 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 obstacle years of handling International payroll why business preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll also review a recap which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and managing them ends up being a growing number of intricate Global organizations are seeking to find Solutions and new methods to simplify processes specifically from a payroll and cross-border payment viewpoint numerous companies preserve separate checking account just for payroll while some have numerous accounts in various nations does it make good sense for companies to maintain separate checking account sometimes in various countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies streamline the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add additional intricacy the international Workforce is currently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll design there's typically a frustrating variety of various systems resulting in lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or really really fundamental there's no real consistency framework we're residing in an age of tech but payroll has actually been slow 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 every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on worldwide payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide companies 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 due to time reporting bad HCM information data entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they count on the required several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's a good question I always toss this back and state what is it what doesn't require to be consisted of best 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 amount of time 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 complexity anywhere you look ideal eventually building a knowledge base is absolutely important however all over you look with payroll payment they resemble incredibly payments no if but some children 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 recognition that payroll payments are absolutely essential and innovation is allowing us to type of move forward with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely essential that payroll and finance groups work better together than ever um I'm always impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 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 individuals 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 important to add to sort of the level of intricacy there's a growing number of benefits being organ or being used by organizations across the world so again you're just aiming to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or real tough kind of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups 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 doesn't necessarily require to be the case you understand long gone are the times where we need to create additional handoffs at the same times that we run in they just make them more timely they make them less effective and they don't 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 why we are still making this as difficult as it requires to be concurred and rightly as you stated payroll is the single most significant liability that any business has from a cost perspective from an impact point of view on employees it is absolutely important 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 biggest detrimental impact on individuals's wellness and numerous other elements if people aren't paid uh I have actually constantly been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain 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 employees or not um however ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is an excellent initial step um offering an end-to-end payroll service for your workers internationally once again I believe is another substantial um process once again lining up and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and decreasing the variety of tools platforms and checking 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 have actually never ever had a hundred countless 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 complaints where things haven't gone quite where they're meant 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 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 likewise so imagine sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job attempting 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 look through them and actually see what was going on and sort of try to return to everybody so carrying on appearance why do business pick to primary different bank accounts there are services out there doing exactly this for specific countries and I have actually worked in a business or many services doing precisely that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not developing additional work for anyone where we don't have to and anyone that's dealing with 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 individuals have got so used to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe 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 add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I believe this is a process that requires taking a look at it requires altering however ultimately people are very stuck with what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having maintaining multiple savings account but there's a big quantity of intricacy goes with setting up a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is big but I think the honest response is modification um people have not been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or two there is a lot to monitor and this approach does present a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just 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 workers you are worthy of a corner office with a more detailed parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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