Find out more about Papaya Global System Malaysia ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive advantages plans to international employees regardless of the number of staff members in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every nation, develop local accounts and have a minimum number of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your workers need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs dispersed per place, total work expenses per cycle and much more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Enterprise clients and solutions in addition to serving as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
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 staff members in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to satisfy 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 industry, I have concentrated on payroll and payment services for the past 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of different functions on the company side and also 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 just provide 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 type of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very dreary and I want I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a strategic asset uh we'll likewise discuss a recap which should leave his time at the very very 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 workforces end up being increasingly more typical and managing them ends up being more and more intricate Global companies are aiming to discover Solutions and new ways to enhance procedures particularly from a payroll and cross-border payment viewpoint numerous organizations keep different savings account just for payroll while some have multiple accounts in various nations does it make sense for companies to maintain separate bank accounts sometimes in different countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business simplify the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex difficulty for businesses running internationally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, discover how companies forecast payroll costs to enhance working capital, and discover how streamlining global payroll payments can transform them from a challenging task into a tactical asset.
Handling payroll globally is a daunting task due to various regulations, compliance requirements, data security concerns, and banking guidelines. The sheer variety of employees and companies contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and ineffectiveness. Despite living in an era of technological developments, payroll management has actually been slow 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 services to simplify and optimize global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a company spends on worldwide payroll the less of an image they see an absence of visibility likewise extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't 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 improperly interacted hires and terminations along with lack management and system setups and after that when you round everything off and the information is delivered to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they rely on the essential several procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles organization face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what doesn't require to be included best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 ideal eventually building a knowledge base is definitely critical but everywhere you look with payroll payment they are like incredibly payments no if however 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 essential and innovation is allowing us to kind of move forward with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always surprised when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often 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 individuals any place they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by companies throughout the world so again you're simply looking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real obstacles or genuine tough type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding info 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 always require to be the case you understand long gone are the times where we need to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost perspective from an impact point of view on staff members it is definitely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful result on individuals's wellness and lots of other aspects if people aren't paid uh I have actually always been impressed entering this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and people just discover when things go wrong. However, when things go right, it's seen as just a regular job. This is how it's viewed externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi Global and other important matters are done properly. Using the first Worldwide Payments very first payroll payment solution is an excellent preliminary action towards providing a thorough payroll option for workers worldwide. Standardization, worldwide processes, and decreasing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are key factors in accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Ultimately, we don't do it for the gratitude.
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 think of sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and type of shot to get back to everybody so carrying on look why do companies choose to primary separate bank accounts there are services out there doing precisely this for particular nations and I've operated in a business or numerous companies doing exactly that I can say it does not constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not developing additional work for any person 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 standard I think individuals have actually got so utilized to we require a brand-new bank 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 norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are extremely stuck to what they're familiar
with right um change is a tough thing all of us do not like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having keeping multiple checking account however there's a big quantity of intricacy opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private people so the intricacy is substantial however I think the sincere response is change um individuals haven't had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to alter but we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be identified to be the next Century or so there is a lot to track and this method does present numerous obstacles um so Johnny might you tell us about those obstacles yeah obviously 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 Worldwide employees you deserve a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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