Find out more about Papaya Global Thailand ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and reliable approach of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll procedure, saving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively handles my payroll, EOR, and specialists.
Employee Website
Employees have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment files. The website is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits plans to global workers despite the number of employees in the company. The business can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, develop local accounts and have a minimum variety of employees.
The HR capabilities offered by Worldwide HR include different functions such as keeping an eye on getaway time, guaranteeing compliance, facilitating the process of welcoming new employees and bidding farewell to departing ones, providing a safe and secure online platform for storing workers' files, and providing assistance for work permit procedures in case your workers require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, overall work costs dispersed per location, total employment expenses per cycle and far more.
Internationally, I have actually demonstrated leadership and tactical proficiency in assisting large-scale populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for managing payroll techniques, as pointed out by Mark. My role includes handling and establishing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We focus on providing payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the provider side and likewise on the supplier side from a payroll perspective so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join we all work back to back these days 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 remains 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 really bleak and I wish I was somewhere else at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Global payroll payments as a tactical property uh we'll likewise go over a wrap-up and that needs to leave his time at the very 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 labor forces end up being a growing number of typical and managing them becomes more and more complicated Global companies are looking to find Solutions and brand-new ways to improve processes particularly from a payroll and cross-border payment perspective many companies preserve separate savings account just for payroll while some have multiple accounts in various countries does it make good sense for business to keep separate bank accounts sometimes in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies enhance the episode complex procedures of
Guaranteeing precise, effective, and prompt payroll payments is a complex challenge for companies running worldwide. Join us for a webinar to check out the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to optimize working capital, and find how improving international payroll payments can change them from a troublesome task into a strategic property.
Handling payroll internationally is an overwhelming job due to different policies, compliance requirements, information security concerns, and banking rules. The large variety of staff members and companies adds to the intricacy, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems often result in manual procedures, information silos, and a lack of integration, causing disparities and inadequacies. In spite of living in an age of technological developments, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to supply insights and services to simplify and optimize worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more a service spends on worldwide payroll the less of an image they see an absence of presence likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international services have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as lack management and system configurations and after that when you round all of it off and the data is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash worldwide payroll and payments do not run efficiently if they rely on the needed numerous procedures 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 challenges company face when they're making payments to employees or otherwise that's a great question I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require 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 timespan 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 anywhere you look right eventually constructing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble incredibly payments no if but 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is allowing us to type of move forward with that it also too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work closer together than ever um I'm always astonished when individuals say I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to kind of the level of intricacy there's increasingly more advantages being organ or being provided by organizations across the world so once again you're simply looking to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real challenges or genuine tough type of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always require to be the case you understand long gone are the times where we require to develop additional handoffs while doing sos that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason why we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any service has from an expense point of view from an effect point of view on staff members it is absolutely vital 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 most significant harmful effect on individuals's well-being and numerous other elements if individuals aren't paid uh I've constantly been astonished entering this Market type of the last five to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just discover when things fail. However, when things go right, it's seen as simply a routine job. This is how it's viewed externally too. For that reason, it is essential to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Using the first International Payments very first payroll payment service is an excellent initial step towards providing an extensive payroll option for employees worldwide. Standardization, worldwide procedures, and lowering the number of tools, platforms, and bank accounts required for international payroll are crucial factors in attaining service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things do not go as prepared. Eventually, we don't do it for the gratitude.
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 simple as possible for everyone that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean up 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 browse them and actually see what was going on and sort of try to get back to everyone so carrying on appearance why do companies select to primary separate bank accounts there are organizations out there doing precisely this for particular countries and I've operated in a company or lots of businesses doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for any person where we don't need to and anybody that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I believe people have actually got so used to we need a new checking account we open an entity and rightly so you require it for payroll purposes but 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 adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and many other ways um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs altering but eventually individuals are really stuck to what they're familiar
with right um change is a difficult thing all of us don't like change um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having keeping several checking account but there's a big amount of complexity chooses establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is big however I think the sincere response is change um individuals haven't been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be identified to be the next Century approximately there is a lot to keep an eye on and this approach does present a number of difficulties um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I just 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 International employees you are worthy of a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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