Find out more about Papaya Global Togo ... We now have the ability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and reputable method of making payments to our 10,000 employees worldwide.}
The cutting-edge international payroll management app simplifies my payroll procedure, conserving me a considerable quantity of time every month. With its user-friendly interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
The Worker Website supplies workers with the ability to access and view crucial files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to global workers no matter the variety of employees in the company. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every nation, produce local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your workers need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force diversity, total work costs dispersed per location, overall work expenses per cycle and far more.
environments across the globe I provided 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 structure external relationships supporting Enterprise customers and options as well as acting as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We specialize in providing payroll and workforce management services to workers 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, no matter your place. It's a satisfaction to meet you and thank you for your important 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 actually concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have always mesmerized me.
payroll payments and decided 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 vendor side from a payroll point of view so really eagerly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it remains 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 really bleak and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also review a wrap-up and that must leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and handling them becomes increasingly more intricate Global organizations are aiming to find Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment viewpoint many organizations preserve different savings account just for payroll while some have multiple accounts in different countries does it make sense for business to maintain different savings account often in various nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational companies improve the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include additional complexity the global Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll design there's typically a frustrating number of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or very very standard there's no real consistency structure we're living 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 frequently with pen and paper which just blows my mind every time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors poorly communicated hires and terminations as well as lack management and system setups and after that when you round it all off and the data is delivered to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count on the required numerous procedures systems and partners it is simply not possible so Johnny from a payments viewpoint 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 concern I always throw this back and say what is it what does not require to be included ideal 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 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 client's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely important that payroll and finance teams work closer together than ever um I'm always astonished when people 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 calculation I would say no so why do we as a market 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 individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of important to add to kind of the level of intricacy there's a growing number of benefits being organ or being used by services across the world so once again you're just looking to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real challenges or genuine tough type of pay utilizes 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 bigger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding details into the next function as it were that's really managing the payment side of things however you know in in my opinion and my experience that doesn't always require to be the case you understand long gone are the times where we require to create additional handoffs while doing sos that we run in they simply make them more timely they make them less effective and they don't make them what they need to be in in a period 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 difficult as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from an expense point of view from an impact point of view on staff members it is absolutely 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 need to be done right it has the biggest damaging effect on people's well-being and many other factors if people aren't paid uh I have actually always been astonished entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply 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 important that all of this things is done properly so leveraging the first Global Payments first payroll payment service is an excellent initial step um providing an end-to-end payroll service for your employees worldwide once again I believe is another substantial um process again lining up and guaranteeing you have standardization Global procedures all of those things are absolutely essential to success success of companies and lowering the number of tools platforms and bank accounts they need 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 expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 associated with those processes and also so imagine sorry I'm just I was just gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and type of shot to get back to everybody so moving on look why do business select to main different savings account there are organizations out there doing precisely this for specific nations and I've worked in a service or many companies doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not purposely doing that we're not producing extra work for anybody where we don't have to and anyone that's handling 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 amount that we are I believe numerous reasons one is it's the requirement I think individuals have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals 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 lots of other ways um to to type of do it so I think there's a variety I think this is a process that needs looking at it requires altering but eventually people are very stuck to what they recognize
with ideal um change is a hard thing all of us do not like modification um so I believe it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining several savings account but there's a substantial quantity of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is substantial but I believe the honest response is change um individuals haven't had the ability to change or haven't had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be determined to be the next Century approximately there is a lot to keep track of and this approach does position several obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched our Business 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 staff members you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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