Find out more about Papaya Global Myanmar ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a safe and secure and trustworthy method of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Worker Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide workers no matter the number of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local advantages companies in every nation, develop local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses distributed per place, overall work expenses per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Business customers and solutions in addition to functioning as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many influential companies worldwide we supply payroll payments and workforce management to all employee types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent evening depending on where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of different functions on the company side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays 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 sort of like see where everybody comes from and I really do hope it's much sunnier than it is 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 bleak and I wish I was elsewhere at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic asset uh we'll likewise go over a recap which should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more common and handling them becomes a growing number of intricate International organizations are wanting to find Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment viewpoint numerous companies keep different checking account just for payroll while some have several accounts in different nations does it make sense for companies to maintain different checking account often in different nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational business improve the episode complex procedures of
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most significantly regulations compliance data security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Workforce is presently three and a half billion people by 2030 it's approximated 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 factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll design there's typically an overwhelming variety of different systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big amounts and or really extremely basic there's no real consistency framework we're living 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 frequently with pen and paper which simply 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 organizations say they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more a company spends on worldwide payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to accurately track these payments can result in compliance incidents 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 processes or want and as a result eighty percent of errors are due to time reporting bad HCM data data entry errors improperly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties company face when they're paying to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be included right and what does
it need 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is permitting us to sort of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely important that payroll and finance teams work better together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to add to type of the level of complexity there's a growing number of advantages being organ or being provided by businesses across the world so again you're simply aiming to include increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine obstacles or real tough type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would certainly state that the bigger a company 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 groups feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't 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 simply make them more prompt they make them less efficient and they don't make them what they need to be in in an age of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense point of view from an effect perspective on staff members it is absolutely crucial 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 most significant detrimental impact on individuals's wellness and lots of other aspects if people aren't paid uh I've constantly been surprised entering into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this type of webinar has 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 but ultimately payroll is such a crucial cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think 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 things is definitely crucial that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment service is a terrific initial step um offering an end-to-end payroll service for your workers internationally again I believe is another substantial um process again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Global 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten 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
anyhow we understand how how crucial a function 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 procedures and also so think of sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and sort of try to return to everyone so carrying on look why do business choose to main different checking account there are companies out there doing precisely this for particular nations and I have actually operated in a company or numerous organizations doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for any person where we do not have to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the standard I think individuals have actually got so utilized to we need a brand-new bank account we open an entity and rightly 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 standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it needs altering but eventually people are extremely stuck to what they recognize
with best um modification is a hard thing all of us do not like modification um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having keeping several checking account however there's a big quantity of complexity goes with establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific individuals so the complexity 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 really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or so there is a lot to keep track of and this approach does pose several obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a change to our Business 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 actually gained another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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