Find out more about Papaya Global Somalia ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a safe and secure and trusted method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll process, conserving me a significant quantity of time each month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Worker Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits bundles to worldwide workers despite the number of workers in the business. The company can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the requirement to source regional benefits suppliers in every nation, produce regional accounts and have a minimum number of workers.
The HR capabilities provided by International HR include different functions such as keeping an eye on holiday time, ensuring compliance, helping with the procedure of welcoming new employees and bidding farewell to leaving ones, using a safe online platform for storing employees' documents, and offering support for work permit treatments in case your employees require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work expenses distributed per location, overall employment costs per cycle and far more.
Internationally, I have actually shown leadership and tactical expertise in guiding massive populations of over 100,000 staff members throughout 170 countries. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
business to make the time 100 list for the majority of influential companies on the planet we provide payroll payments and workforce management to all worker types in over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great evening depending on where you remain in the world it's lovely to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
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 functions on the provider side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really do hope it's much sunnier than it remains 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 extremely gloomy and I wish I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic asset uh we'll also review a wrap-up and that needs to leave his time at the very 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 Worldwide workforces become more and more typical and handling them ends up being increasingly more complex Global organizations are looking to find Solutions and brand-new methods to improve procedures especially from a payroll and cross-border payment perspective many companies maintain separate bank account just for payroll while some have several accounts in different nations does it make sense for business to preserve separate checking account often in various nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies improve the episode complex processes of
making payroll payments precisely effectively firmly and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most significantly regulations compliance information security and banking rules then there are the large numbers they add additional complexity the worldwide Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals 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 globe in the conventional payroll design there's frequently a frustrating variety of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no real consistency framework we're residing in an era of tech but payroll has actually been sluggish 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 whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations along with absence management and system setups and then when you round it all off and the information is shipped to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they count on the essential several 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 difficulties company face when they're making payments to employees or otherwise that's an excellent question I always throw this back and state what is it what doesn't need to be included ideal and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely important that payroll and finance teams work better together than ever um I'm constantly impressed when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation 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 process it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more crucial to contribute to type of the level of complexity there's more and more advantages being organ or being offered by services across the world so again you're just wanting to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine difficulties or real difficult sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact viewpoint on workers it is definitely critical that it's done correctly and on time so what we mean 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 people's well-being and lots of other elements if people aren't paid uh I have actually always been astonished entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this type of webinar has actually been informed 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 eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider 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 things is done correctly so leveraging the first Worldwide Payments very first payroll payment option is a terrific initial step um supplying an end-to-end payroll solution for your employees worldwide again I think is another huge um process once again lining up and guaranteeing you have standardization International processes all of those things are definitely crucial to success success of businesses and decreasing the number of tools platforms and savings account 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 have actually 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 grievances where things have not gone quite where they're indicated to be um I don't think any of us are in fact doing that for for the thanks
anyhow we understand how how crucial 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 easy as possible for everybody that's associated with those processes and also so envision sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions think of getting that lots of 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 task attempting to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and really see what was going on and kind of shot to return to everybody so moving on appearance why do companies choose to primary different bank accounts there are companies out there doing exactly this for particular nations and I've operated in a service or lots of companies doing exactly that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for any person where we do not need to and any person that's handling 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 amount that we are I think numerous reasons one is it's the standard I think individuals have actually got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering but ultimately people are really stuck to what they're familiar
with best um change is a challenging thing we all don't like change um so I believe it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining several checking account however there's a big quantity of intricacy chooses establishing a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is big but I think the honest response is modification um individuals haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be determined to be the next Century approximately there is a lot to track and this technique does present a number of challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your accomplishments.
Papaya Global Bangalore Office Location