Find out more about Papaya Global Uae ... 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 gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a safe and trusted approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers employees with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global assists business provide competitive advantages bundles to international staff members no matter the number of workers in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits service providers in every country, create local accounts and have a minimum number of employees.
The HR capabilities supplied by International HR include various functions such as monitoring vacation time, making sure compliance, assisting in the procedure of inviting new staff members and bidding goodbye to departing ones, offering a protected online platform for saving employees' files, and providing support for work allow treatments in case your workers require help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total employment expenses distributed per area, overall work expenses per cycle and far more.
Worldwide, I have actually demonstrated leadership and tactical know-how in directing massive populations of over 100,000 employees across 170 nations. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Business clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to meet 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 industry, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually always captivated me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various roles on the provider side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 really really dreary and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic asset 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 relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces end up being increasingly more typical and handling them becomes increasingly more complex Global organizations are seeking to find Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment standpoint many organizations keep separate savings account just for payroll while some have numerous accounts in different nations does it make good sense for companies to maintain separate savings account often in various nations it does however just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies streamline the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how business precisely anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include further complexity the worldwide Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll design there's frequently a frustrating number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really fundamental there's no real consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization invests in worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of worldwide companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and then when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they count on the necessary several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't need to be included right 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is definitely critical but all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to sort of move on with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm constantly 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 operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so typically 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 wherever they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of intricacy there's more and more benefits being organ or being offered by organizations across the world so again you're simply looking to add a growing number of payments to this already complex landscape so if you kind 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 genuine obstacles or genuine difficult kind of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a couple of years I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's in fact 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 know long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in a period of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any business has from a cost viewpoint from an impact viewpoint on employees it is absolutely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest damaging result on people's wellness and many other elements if individuals aren't paid uh I've constantly been surprised coming into this Market sort of the last five to 10 years is how little thanks the
The payroll group might not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. For that reason, it is important to ensure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first Global Payments first payroll payment solution is an excellent preliminary action towards supplying a comprehensive payroll solution for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and bank accounts required for international payroll are essential consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of problems when things don't go as prepared. Eventually, we don't do it for the thankfulness.
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 easy as possible for everybody that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying 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 try to browse them and actually see what was going on and type of shot to return to everybody so carrying on appearance why do business pick to primary separate savings account there are businesses out there doing precisely this for particular nations and I have actually worked in an organization or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not have to and anybody that's dealing with 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 think lots of factors one is it's the requirement 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 functions however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I think this is a procedure that requires taking a look at it needs altering but eventually individuals are very stuck with what they're familiar
with best um modification is a difficult thing we all don't like modification um so I think 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 clearly the benefits of having preserving several checking account however there's a big quantity of intricacy chooses establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for private individuals so the intricacy is substantial however I believe the honest answer is change um people haven't been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change however we've always done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century or two there is a lot to track and this technique does position several challenges um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this improved ability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your achievements.
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