Find out more about Papaya Global Sierra Leone ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive benefits packages to global employees despite the number of staff members in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local benefits service providers in every country, develop regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall employment costs distributed per area, overall employment costs per cycle and a lot more.
Worldwide, I have shown management and tactical know-how in assisting massive populations of over 100,000 workers throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to workers 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, despite your place. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, 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 solutions for the past 7 years. The intricacies and obstacles of this field have actually always captivated me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually sort of had a variety of various roles on the provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely bleak and I wish 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 challenge years of managing International payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise go over a recap and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and managing them ends up being a growing number of complicated Global organizations are wanting to discover Solutions and new ways to streamline processes especially from a payroll and cross-border payment standpoint many companies keep different savings account just for payroll while some have numerous accounts in different countries does it make sense for business to keep different savings account in some cases in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business improve the episode complex procedures of
Guaranteeing accurate, efficient, and timely payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll savings account, find out how companies forecast payroll expenses to optimize working capital, and discover how improving global payroll payments can transform them from a difficult job into a strategic asset.
Managing payroll worldwide is an overwhelming task due to different regulations, compliance requirements, information security issues, and banking rules. The large variety of staff members and businesses contributes to the intricacy, with an approximated 3.5 billion individuals in the global workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and a lack of integration, leading to inconsistencies and inadequacies. Despite residing in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar goals to offer insights and options to simplify and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in global payroll the less of an image they see an absence of visibility also reaches payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies 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 mistakes are because of time reporting bad HCM data information entry mistakes poorly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide information 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 depend on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be included best 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 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 client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is definitely vital 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 type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to sort of progress with that it likewise as well to add to that payroll and finance require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 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 anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being a growing number of essential to contribute to sort of the level of complexity there's a growing number of benefits being organ or being provided by organizations across the world so once again you're simply wanting to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of real difficulties or real difficult sort of pay uses to play to pay people I think yeah I mean over the last well yeah a couple of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to develop additional 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 require to be in in a period of tech and an age 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 concurred and rightly as you said payroll is the single most significant liability that any company has from a cost viewpoint from an impact viewpoint on workers it is definitely critical that it's done correctly and on time so what we imply 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 harmful effect on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been astonished entering into this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely vital that all of this things is done properly so leveraging the first International Payments very first payroll payment service is a great initial step um providing an end-to-end payroll service for your workers worldwide again I believe is another big um process once again aligning and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and reducing the number of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're suggested 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 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 processes and also so think of sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing task attempting to clean all those up for sure oh absolutely 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 try to check out them and actually see what was going on and sort of shot to return to everybody so proceeding look why do business choose to primary different savings account there are organizations out there doing precisely this for specific countries and I've operated in an organization or numerous businesses doing precisely that I can say it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for any person where we do not need to and anybody 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 amount that we are I think lots of reasons one is it's the standard I think individuals have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to type of do it so I think there's a variety I think this is a process that requires taking a look at it needs altering but eventually people are really stuck with what they recognize
with best um modification is a tough thing we all do not like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having keeping several bank accounts however there's a huge amount of intricacy opts for setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is big however I think the honest response is change um people haven't had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to track and this approach does pose numerous challenges um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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