Find out more about Papaya Global Pitchbook ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a protected and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and employment files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits bundles to global staff members regardless of the number of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every nation, create local accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce variety, overall work costs distributed per area, total work costs per cycle and much more.
Internationally, I have demonstrated leadership and strategic competence in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role involves handling and developing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction 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 decade of experience in the payments industry, I have actually focused on payroll and payment solutions for the past 7 years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually type of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll perspective so truly anticipating this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already just 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 definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really dreary and I wish I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why business keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise go over a recap which must leave his time at the very 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 more and more common and handling them ends up being more and more complex Global companies are aiming to discover Solutions and brand-new methods to improve processes particularly from a payroll and cross-border payment viewpoint numerous companies maintain different bank account just for payroll while some have several accounts in various countries does it make sense for business to maintain different checking account often in different countries 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 helping international companies enhance the episode complex processes of
making payroll payments properly effectively securely and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of factors most importantly regulations compliance data security and banking guidelines then there are the sheer numbers they include additional complexity the worldwide Labor force is presently three and a half billion individuals 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 factor in that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll design there's often an overwhelming number of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely very basic there's no real consistency structure we're residing 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 typically 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 just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and quite honestly the more a service spends on global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of international services have revealed that they do not 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 poor HCM information data entry errors improperly communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties business face when they're paying to workers or otherwise that's a great question I constantly toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be thought of there's varying Bank information 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 have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble extremely payments no if but 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 basic and technology is permitting us to kind of move forward with that it also too to contribute to that payroll and financing require to work closer together um with varying Savings account Details varying banking requirements and setup procedures is absolutely important that payroll and financing groups work more detailed together than ever um I'm always surprised when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 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 wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being provided by services across the world so once again you're simply seeking to include more and more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine tough sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely say that the larger a company 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 groups feeding info into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create additional handoffs in the processes that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in a period 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 challenging as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an effect perspective on staff members it is definitely crucial 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 need to be done right it has the most significant harmful effect on people's well-being and lots of other factors if individuals aren't paid uh I've always been amazed entering 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 properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just see when things go wrong. Nevertheless, when things go right, it's seen as just a regular task. This is how it's perceived externally as well. For that reason, it is necessary to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the very first International Payments very first payroll payment solution is an excellent initial action towards supplying a comprehensive payroll solution for staff members worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account required for international payroll are essential factors in achieving organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as prepared. Eventually, we do not do it for the thankfulness.
anyway we understand how how important a function 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 simple as possible for everybody that's associated with those processes and also so picture sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would absolutely be a fascinating task trying to clean up 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 look through them and in fact see what was going on and type of try to get back to everybody so carrying on appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for particular countries and I have actually worked in a company or lots of services doing exactly that I can say it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anyone where we don't need to and any person that's handling 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 quantity that we are I think many reasons one is it's the requirement I believe individuals have actually got so used to we require a brand-new checking account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I think there's a range I think this is a process that needs taking a look at it requires altering but ultimately individuals are extremely stuck to what they recognize
with best um modification is a difficult thing we all do not like modification um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping several checking account but there's a big amount of intricacy chooses establishing a bank account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for private people so the complexity is huge but I think the sincere response is change um people haven't been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I think you have actually 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 always done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what could almost be figured out to be the next Century or two there is a lot to monitor and this method does position numerous obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched 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 workers you should have a corner office with a more detailed parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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