Find out more about Papaya Global Slovenia ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reliable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and contractors
Staff member Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global staff members regardless of the number of staff members in the company. The business can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every country, produce regional accounts and have a minimum variety of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total work costs dispersed per place, overall employment expenses per cycle and much more.
environments around the world I supplied management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work across business handling and building external relationships supporting Enterprise clients and options along with acting as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure 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 market, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or six years where I have actually type of had a range of different functions on the service provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just provide everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody 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 raining here it's very really gloomy and I wish I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why business preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll also discuss a recap and that ought to leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being a growing number of typical and handling them becomes increasingly more complex Worldwide companies are aiming to discover Solutions and new methods to streamline procedures particularly from a payroll and cross-border payment standpoint lots of organizations preserve different savings account just for payroll while some have numerous accounts in different countries does it make good sense for business to keep separate savings account in some cases in different nations it does but just for payroll is there a better way what function 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 properly efficiently securely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they include further intricacy the global Workforce is presently 3 and a half billion individuals by 2030 it's approximated 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 consider that there are some 230 million organizations and growing all doing their own thing around the globe in the conventional payroll model there's often a frustrating number of different systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely really fundamental there's no real consistency structure we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind every time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a service invests in worldwide payroll the less of an image they see an absence of presence likewise extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the transaction almost half of international businesses have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors badly interacted hires and terminations as well as absence management and system configurations and then when you round it all off and the data is delivered to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be consisted of best 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 amount of time 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 consumer's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to kind of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance groups work closer together than ever um I'm always astonished 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 operate in the payroll occupation would they divide the payroll payment from estimation 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 individuals wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to type of the level of intricacy there's a growing number of benefits being organ or being offered by businesses throughout the world so once again you're just looking to add increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine difficulties or genuine tough kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of years I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding information into the next function as it were that's actually handling 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 understand long gone are the times where we need to produce extra handoffs in the processes that we run in they just make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an effect point of view on employees it is definitely 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 most significant destructive effect on individuals's wellness and many other aspects if individuals aren't paid uh I have actually constantly been astonished entering this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone 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 deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is a great primary step um supplying an end-to-end payroll solution for your staff members internationally again I believe is another substantial um procedure again lining up and ensuring you have standardization Global procedures all of those things are absolutely key to success success of services and decreasing the variety 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 thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 easy as possible for everyone that's involved in those procedures and also so envision sorry I'm simply I was just gon na state envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job attempting 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 need days of the week to try to check out them and in fact see what was going on and type of try to return to everyone so carrying on look why do companies choose to primary different bank accounts there are organizations out there doing exactly this for specific nations and I've worked in a business or numerous services doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for anybody where we do not have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a process that requires looking at it needs altering however ultimately people are very stuck with what they're familiar
with best um modification is a challenging thing we all do not like change um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having keeping numerous bank accounts but there's a huge quantity of intricacy chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the intricacy is substantial but I think the truthful response is change um people have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is an element of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be identified to be the next Century approximately there is a lot to track and this technique does position several difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply 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 should have a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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