Find out more about Papaya Global Malaysia ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and reliable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
Worker Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to international employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, produce local accounts and have a minimum variety of workers.
The HR capabilities provided by Global HR encompass numerous functions such as keeping an eye on getaway time, ensuring compliance, assisting in the process of inviting new workers and bidding goodbye to leaving ones, offering a protected online platform for saving workers' files, and providing assistance for work allow procedures in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force variety, total employment costs dispersed per location, total employment expenses per cycle and a lot more.
Internationally, I have demonstrated management and strategic expertise in guiding massive populations of over 100,000 employees across 170 nations. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My function includes handling and developing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be included 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 present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite 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 decade of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have always mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've sort of had a range of different roles on the provider side and also on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another couple 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 rather 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 originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very really bleak and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies maintain separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complex procedure of cross-border payments. Instead of maintaining separate checking account for payroll in various nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a strategic asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how business accurately anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the large numbers they include additional intricacy the worldwide Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals 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 globe in the standard payroll model there's often a frustrating variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very extremely fundamental there's no genuine consistency framework we're living in a period 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 frequently with pen and paper which just blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a business invests in global payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the deal almost half of worldwide services have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM data information entry mistakes badly communicated hires and terminations along with absence management and system configurations and after that when you round everything off and the information is delivered to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments do not run efficiently if they rely on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties business face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought about there's differing Bank details 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 have to pay from the consumer's own in-country account so there's intricacy any place you look ideal eventually constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble extremely 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 acknowledgment that payroll payments are absolutely fundamental and innovation is enabling us to type of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars 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 individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to type of the level of intricacy there's a growing number of advantages being organ or being used by services throughout the world so once again you're simply wanting to include more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or real challenging sort of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding information into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any organization has from a cost viewpoint from an effect viewpoint on staff members it is absolutely vital 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 need to be done right it has the greatest detrimental effect on individuals's well-being and lots of other aspects if individuals aren't paid uh I've constantly been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people just notice when things fail. However, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is important to ensure that jobs like Wi-Fi Worldwide and other important matters are done properly. Using the very first Worldwide Payments first payroll payment option is an excellent initial step towards providing a thorough payroll service for employees worldwide. Standardization, global processes, and minimizing the number of tools, platforms, and savings account required for global payroll are crucial factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know how how crucial 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 everybody that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and type of shot to get back to everyone so moving on appearance why do business choose to main separate bank accounts there are businesses out there doing precisely this for specific nations and I have actually worked in an organization or numerous organizations doing exactly that I can state it doesn't always feel effective and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we don't need to and any person that's handling that procedure 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 believe lots of reasons one is it's the standard I think individuals have actually got so used to we need a new checking 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 think it's just been the standard and the standard individuals 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 lots of other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it needs altering but ultimately people are very stuck with what they're familiar
with best um modification is a tough thing we all do not like modification um so I think it's just kind 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 undoubtedly the benefits of having preserving numerous checking account however there's a big amount of complexity opts for setting up a bank account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the intricacy is substantial but I believe the sincere response is change um individuals have not been able to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be identified to be the next Century or so there is a lot to keep an eye on and this approach does pose a number of challenges um so Johnny might you inform us about those difficulties yeah obviously 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 feels like our CFO has gotten another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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