Find out more about Papaya Global Singapore ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trusted approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive advantages plans to international employees despite the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every country, create regional accounts and have a minimum variety of employees.
The HR capabilities provided by Worldwide HR encompass different functions such as keeping an eye on vacation time, making sure compliance, helping with the procedure of inviting brand-new workers and bidding farewell to departing ones, using a safe online platform for storing workers' files, and offering assistance for work allow treatments in case your workers need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total work expenses distributed per location, overall work expenses per cycle and far more.
Internationally, I have demonstrated management and tactical competence in guiding large-scale populations of over 100,000 employees throughout 170 nations. Presently, I are accountable for managing payroll methods, as mentioned by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most influential business in the world we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon excellent evening depending on where you are in the world it's charming to fulfill 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 industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've sort of had a range of various roles on the service provider side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone 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 definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely gloomy and I want I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also review a recap which should leave his time at the very very 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 workforces end up being more and more typical and handling them ends up being more and more complicated Worldwide companies are wanting to discover Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment perspective lots of companies preserve different checking account just for payroll while some have multiple accounts in various countries does it make good sense for companies to maintain separate checking account sometimes in various countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business enhance the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex challenge for businesses operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business anticipate payroll costs to enhance working capital, and discover how enhancing worldwide payroll payments can change them from a burdensome job into a strategic possession.
Handling payroll worldwide is a challenging job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion people in the global labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Traditional payroll systems frequently lead to manual procedures, information silos, and an absence of integration, causing disparities and inadequacies. Despite residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to provide insights and options to simplify and optimize 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 offers me sleepless nights and quite frankly the more a business invests in international payroll the less of a photo they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes poorly interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the essential numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be included best and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 have to pay from the consumer's own in-country account so there's complexity wherever you look best ultimately developing a knowledge base is absolutely vital but all over you look with payroll payment they resemble super 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 basic and technology is allowing us to kind of move on with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always amazed when individuals say 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 computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high value on well-being and the compensation landscape is becoming progressively complex. Businesses are constantly presenting brand-new advantages and payment choices, which adds to the total intricacy. Large corporations frequently divide their payroll and payment processing into different groups, which can lead to inefficiencies and bottlenecks. In my viewpoint, this does not have to be the case. In today's technologically innovative period, there's no reason for maintaining cumbersome treatments. Payroll, the business's most significant expenditure, must be processed correctly and on time. Even minor delays can adversely affect employees' wellness and have far-reaching repercussions. Therefore, it's vital to prioritize accurate and prompt payments.
payroll team get um so I'm not sure anybody on this type of webinar has actually 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 employees or not um but ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is a fantastic initial step um providing an end-to-end payroll solution for your staff members internationally once again I think is another big um process once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of businesses and minimizing the number of tools platforms and savings account they require for their Worldwide 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 have actually never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're implied to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how essential 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 everyone that's associated with those procedures and likewise so picture sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to check out them and really see what was going on and type of shot to get back to everybody so carrying on look why do companies pick to main separate bank accounts there are organizations out there doing exactly this for particular countries and I have actually worked in a business or numerous organizations doing exactly that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I think individuals have actually got so used to we need a brand-new checking account we open an entity and rightly so you require it for payroll functions but 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 people have actually 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 think this is a procedure that needs looking at it requires altering however ultimately individuals are very stuck with what they're familiar
with ideal um modification is a difficult thing we all do not like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the advantages of having maintaining numerous savings account however there's a substantial quantity of intricacy chooses establishing a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is big however I think the truthful answer is modification um people haven't been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might nearly be figured out to be the next Century approximately there is a lot to keep track of and this approach does position a number of obstacles um so Johnny could you tell us about those obstacles yeah naturally 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 seems like our CFO has actually gained another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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