Find out more about Papaya Global Malawi ... 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 acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Website
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to worldwide workers no matter the variety of workers in the company. The business can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source regional benefits providers in every country, create local accounts and have a minimum number of staff members.
The HR capabilities supplied by Worldwide HR include various functions such as keeping track of holiday time, making sure compliance, facilitating the process of inviting brand-new employees and bidding farewell to leaving ones, offering a safe and secure online platform for saving workers' files, and offering assistance for work allow treatments in case your employees need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce variety, total employment expenses distributed per location, total employment expenses per cycle and much more.
Internationally, I have actually demonstrated management and strategic knowledge in directing massive populations of over 100,000 workers across 170 nations. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have constantly captivated me.
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of different functions on the provider side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds or two 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 type of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really dreary and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Worldwide payroll why companies keep separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially useful for international organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping separate savings account for payroll in different nations, virtual accounts and digital wallets offer a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring accurate, efficient, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to optimize working capital, and find how enhancing global payroll payments can change them from a troublesome job into a strategic asset.
Managing payroll internationally is a complicated job due to different policies, compliance requirements, information security issues, and banking rules. The large number of employees and companies adds to the complexity, with an estimated 3.5 billion individuals in the global workforce, 500 million of whom remain in Africa, and 230 million businesses worldwide.
Conventional payroll systems often result in manual procedures, information silos, and a lack of integration, leading to inconsistencies and ineffectiveness. In spite of residing in an era of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar objectives to provide insights and options to streamline and enhance worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see a lack of exposure also extends to payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations as well as lack management and system configurations and after that when you round it all off and the data is delivered to the incorrect location the average cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they rely on the necessary several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be included ideal and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 anywhere you look right eventually constructing a knowledge base is definitely vital but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a 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 definitely basic and technology is permitting us to kind of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end process it's the point of data 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 increasingly more crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by businesses across the world so again you're just looking to add more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine obstacles or real challenging kind of pay uses 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 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 info into the next function as it were that's really 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 need to produce extra handoffs at the same times that we operate 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 age that you understand that we are working in today there is no reason that we are still making this as challenging as it requires to be agreed and appropriately as you said payroll is the single most significant liability that any business has from a cost point of view from an effect point of view on staff members it is definitely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive result on individuals's wellness and lots of other factors if people aren't paid uh I've constantly been amazed coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anyone on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um but eventually payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box exercise and I think 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 crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment service is a great primary step um offering an end-to-end payroll option for your employees internationally once again I think is another big um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and lowering 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 don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know how how important 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 involved in those procedures and also so picture sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task 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 was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and type of shot to return to everyone so moving on appearance why do companies pick to primary different bank accounts there are companies out there doing exactly this for specific countries and I have actually worked in a business 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 deliberately doing that we're not creating extra work for any person where we don't have to and anybody that's dealing with that procedure 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 believe people have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just 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 looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires changing but ultimately people are really stuck to what they're familiar
with right um modification is a tough thing we all do not like change um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping several bank accounts however there's a substantial quantity of complexity opts for setting up a savings account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is huge however I believe the sincere response is modification um individuals haven't been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or so there is a lot to monitor and this method does present several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just 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 acquired another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Bangalore Office Location