Find out more about Papaya Global Norway ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trustworthy method of making payments to our 10,000 staff members worldwide.}
The cutting-edge global payroll management app improves my payroll process, conserving me a substantial amount of time each month. With its user-friendly interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Staff member Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to international employees no matter the number of workers in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every country, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses dispersed per place, total work costs per cycle and a lot more.
Globally, I have actually shown leadership and tactical know-how in assisting massive populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role involves handling and developing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction to fulfill you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 extremely gloomy and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise review a recap and that must leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them ends up being more and more complicated International companies are seeking to find Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment perspective many organizations preserve separate savings account just for payroll while some have numerous accounts in various nations does it make good sense for companies to preserve separate bank accounts in some cases in various nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting international companies improve the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most notably policies compliance information security and banking rules then there are the large numbers they add further complexity the global Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll model there's typically a frustrating variety of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large quantities and or really really fundamental there's no real consistency framework we're residing in a period 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 just 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 just 11 of organizations say they have Workforce data in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on worldwide payroll the less of a picture they see a lack of visibility also encompasses payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services 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 mistakes are because of time reporting bad HCM information data entry errors improperly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the incorrect location the average cost of an international 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 smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles business face when they're paying to workers or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be consisted of right and what does
it need to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to type of move on with that it also also to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely imperative that payroll and financing teams work better together than ever um I'm always impressed when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 eventually 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 however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of crucial to contribute to type of the level of intricacy there's more and more benefits being organ or being provided by companies across the world so again you're just seeking to add a growing number of payments to this currently complicated landscape so if you kind 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 challenges or real challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would definitely say 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 teams feeding details into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to create additional handoffs in the processes that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you understand that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from an expense viewpoint from an effect viewpoint on employees it is absolutely critical 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 have to be done right it has the biggest harmful impact on people's well-being and many other factors if people aren't paid uh I have actually constantly been surprised coming into this Market kind of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Global Payments very first payroll payment solution is a fantastic primary step um supplying an end-to-end payroll option for your workers worldwide once again I think is another substantial um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of businesses and reducing the number of tools platforms and bank accounts they need 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 had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're implied 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 easy as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was simply gon na say picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however 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 need days of the week to attempt to browse them and in fact see what was going on and type of try to get back to everybody so carrying on appearance why do companies pick to primary separate checking account there are businesses out there doing exactly this for particular countries and I have actually worked in a service or numerous services doing precisely that I can state it does not always feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for any person where we don't need to and anyone that's managing that process 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 think many reasons one is it's the requirement I think people have actually got so used to we need a brand-new savings 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 individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a process that needs looking at it requires changing but ultimately individuals are very stuck with what they're familiar
with right um change is a difficult thing we all do not like modification um so I believe it's simply sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping several savings account however there's a big amount of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers ensuring it's established with the best user accesses for private individuals so the complexity is huge but I believe the truthful response is modification um individuals haven't had the ability to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to monitor and this approach does present several difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location