Find out more about Papaya Global Netherlands ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and trusted approach of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Portal supplies workers with the ability to access and view crucial files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps business use competitive benefits packages to international staff members despite the variety of workers in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits companies in every country, produce regional accounts and have a minimum variety of staff members.
The HR capabilities provided by International HR include different functions such as keeping track of vacation time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding farewell to departing ones, providing a safe online platform for storing workers' files, and offering assistance for work allow procedures in case your staff members need support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work expenses distributed per location, total work expenses per cycle and much more.
Worldwide, I have actually demonstrated management and strategic expertise in guiding massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually type of had a variety of various functions on the supplier side and likewise on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating 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 really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's really extremely dreary and I want I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business keep separate
Virtual payroll accounts are an option to traditional checking account for handling payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of maintaining separate bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured option. In this webinar, we will check out the advantages of using virtual payroll accounts and discuss why they are becoming a tactical asset for payroll executives. We will also offer a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in adequate in one nation however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the sheer numbers they include additional intricacy the international Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the conventional payroll design there's frequently a frustrating variety of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely extremely basic there's no genuine consistency framework we're residing in an era of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more an organization spends on international payroll the less of an image they see an absence of exposure also encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of global services have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties service face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what does not require to be included right and what does
it need to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 customer's own in-country account so there's intricacy anywhere you look best ultimately developing a knowledge base is absolutely critical but all over you look with payroll payment they are like incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort 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 absolutely fundamental and innovation is enabling us to type of move forward with that it also too to contribute to that payroll and finance need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely crucial that payroll and finance teams work better together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to add to sort of the level of complexity there's increasingly more advantages being organ or being used by services across the world so again you're simply looking to include a growing number of payments to this currently intricate landscape so if you kind 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 genuine difficulties or real tough kind of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an impact viewpoint on employees it is absolutely critical that it's done correctly 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 harmful effect on individuals's wellness and lots of other aspects if people aren't paid uh I have actually constantly been astonished entering this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. However, when things go right, it's viewed as just a routine task. This is how it's perceived externally as well. Therefore, it is vital to make sure that tasks like Wi-Fi International and other vital matters are done correctly. Utilizing the very first International Payments very first payroll payment solution is a great initial step towards offering a detailed payroll option for staff members worldwide. Standardization, worldwide procedures, and decreasing the variety of tools, platforms, and bank accounts required for worldwide payroll are crucial factors in achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyway we know 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 everybody that's associated with those processes and likewise so think of sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an interesting 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 was the case um you 'd require days of the week to try to browse them and really see what was going on and sort of try to return to everybody so carrying on appearance why do companies select to primary different checking account there are services out there doing precisely this for particular countries and I've operated in an organization or lots of organizations doing exactly 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 developing extra work for any person where we do not have to and anyone that's dealing with 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 quantity that we are I believe lots of reasons one is it's the requirement I believe people have actually got so utilized to we need a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm the people have adopted and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a procedure that requires taking a look at it requires altering but ultimately people are very stuck to what they recognize
with ideal um modification is a hard thing we all don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having maintaining multiple savings account however there's a huge amount of complexity opts for establishing a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for specific individuals so the intricacy is huge however I think the honest response is change um people have not been able to alter or haven't had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we've always 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 could almost be identified to be the next Century or so there is a lot to keep an eye on and this technique does pose numerous obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a range 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 Worldwide workers you deserve a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location