Find out more about Papaya Global Mexico ... 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 separate Chief Financial Officer particularly committed to managing payments. This provides us with a protected and trusted method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Staff member Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits plans to global workers no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source regional advantages service providers in every nation, create local accounts and have a minimum number of workers.
The HR abilities provided by Global HR include various functions such as keeping track of vacation time, making sure compliance, facilitating the process of inviting new employees and bidding farewell to leaving ones, using a protected online platform for keeping employees' files, and supplying support for work permit treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per area, total employment costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and structure external relationships supporting Enterprise clients and options as well as acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a satisfaction 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 industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or six years where I have actually kind of had a variety of various roles on the company side and also on the supplier side from a payroll perspective so actually looking forward to 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 approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 bleak and I want I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies maintain different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll also go over a wrap-up which 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 transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more common and managing them ends up being increasingly more complicated International companies are seeking to discover Solutions and brand-new ways to simplify processes specifically from a payroll and cross-border payment perspective many companies preserve separate savings account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep different checking account sometimes in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational 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 global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most notably policies compliance information security and banking rules then there are the large numbers they include further intricacy the global Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the traditional payroll model there's typically an overwhelming number of various systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or really very standard there's no genuine consistency framework we're living in a period of tech but payroll has 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 think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in global payroll the less of an image they see an absence of presence also extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of worldwide companies have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data data entry errors improperly interacted hires and terminations as well as lack management and system configurations and then when you round everything 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 require to move the cash around the world payroll and payments do not run efficiently if they rely on the necessary numerous 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 difficulties organization face when they're paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be included ideal and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 complexity anywhere you look best eventually developing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble super payments no if however some children 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 believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it likewise as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being offered by companies across the world so again you're simply looking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real obstacles or genuine difficult sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things however you understand in in my viewpoint and my experience that does not necessarily require to be the case you know 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 prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason why we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single most significant liability that any company has from an expense point of view from an impact point of view on employees it is absolutely vital that it's done properly and on time so what we suggest 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 damaging effect on people's well-being and many other factors if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has actually 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 staff members or not um however eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout 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 solution is a fantastic primary step um offering an end-to-end payroll option for your workers internationally once again I think is another substantial um process again lining up and guaranteeing you have standardization International processes all of those things are definitely essential to success success of businesses and decreasing the variety of tools platforms and checking account they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are really 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 simple as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was just gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean all those up for sure oh definitely 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 attempt to check out them and actually see what was going on and kind of shot to return to everybody so carrying on look why do business choose to primary different savings account there are organizations out there doing precisely this for particular nations and I have actually operated in a service or lots of companies doing precisely that I can say it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not producing additional work for anybody where we do not need to and any person that's managing that procedure I 'd be interested to hear your thoughts 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 people have got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions however 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 adopted and continue to do over years and years gone past to contribute to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a process that requires taking a look at it requires altering but ultimately individuals are really stuck to what they recognize
with best um change is a difficult thing we all don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having keeping numerous bank accounts however there's a huge quantity of complexity goes with establishing a savings account keeping it ensuring it can send International transfers ensuring it's established with the right user accesses for specific individuals so the intricacy is big however I believe the honest answer is change um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to monitor and this technique does posture numerous obstacles um so Johnny could you inform us about those difficulties yeah of course so there's a variety right there is so
I recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this improved ability, I have successfully protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is closer, considering your accomplishments.
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