Find out more about Papaya Global United States ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly committed to handling payments. This offers 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 monthly, one single dashboard for my payroll, EOR and contractors
The Employee Website provides workers with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is used in various languages.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to worldwide employees despite the variety of workers in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every nation, create local accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, overall employment costs dispersed per place, total work expenses per cycle and much more.
Worldwide, I have actually demonstrated leadership and strategic know-how in assisting massive populations of over 100,000 employees across 170 nations. Presently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Business customers, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's an enjoyment to meet 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 actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've kind of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number 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 quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type 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 raining here it's extremely extremely bleak and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise review a wrap-up which ought to 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 International labor forces become increasingly more typical and handling them becomes more and more intricate Worldwide organizations are looking to find Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment perspective lots of organizations preserve separate bank account just for payroll while some have multiple accounts in different nations does it make sense for business to preserve separate savings account often in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance data security and banking rules then there are the large numbers they include more intricacy the international Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people 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 world in the conventional payroll design there's typically an overwhelming variety of different systems causing lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely really fundamental there's no genuine consistency structure we're residing in an age of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that gives me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global services have expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors badly interacted hires and terminations as well as lack management and system configurations and then when you round all of it off and the information is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they rely on the required 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 challenges company face when they're paying to staff members or otherwise that's an excellent question I always throw this back and state what is it what does not need to be included ideal and what does
it require to be thought of there's varying Bank information 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 have to pay from the client's own in-country account so there's complexity anywhere you look ideal ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like extremely 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 think there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to sort of progress with that it also too to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is definitely important that payroll and finance groups work better together than ever um I'm constantly amazed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anybody 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 an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end procedure 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
The contemporary world positions a high worth on well-being and the payment landscape is ending up being progressively detailed. Businesses are continually presenting new advantages and payment choices, which contributes to the overall complexity. Big corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my viewpoint, this does not need to hold true. In today's technically sophisticated period, there's no validation for preserving cumbersome treatments. Payroll, the business's greatest expenditure, should be processed properly and on time. Even minor hold-ups can adversely impact workers' well-being and have far-reaching repercussions. For that reason, it's crucial to focus on precise and timely payments.
payroll team get um so I'm unsure anybody 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 staff members or not um however ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done properly so leveraging the very first International Payments first payroll payment solution is a fantastic first step um offering an end-to-end payroll service for your workers internationally once again I think is another huge um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely essential to success success of services and lowering the number of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how important a role 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to look through them and actually see what was going on and kind of shot to get back to everybody so proceeding look why do business pick to main separate savings account there are organizations out there doing exactly this for specific nations and I have actually worked in a service or numerous services doing precisely that I can state it does not always feel effective and it does create more work I understand we're not intentionally doing that we're not developing extra work for anyone where we do not have to and anyone that's managing 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 factors one is it's the standard I believe people have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually 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 kind of do it so I think there's a range I think this is a process that requires taking a look at it needs altering but eventually individuals are very stuck to what they're familiar
with right um modification is a difficult thing all of us do not like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having maintaining multiple bank accounts but there's a substantial quantity of complexity chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is big however I believe the honest answer is change um individuals have not been able to change or haven't had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century or two there is a lot to keep track of and this approach does posture a number of obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just did you changed 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 workers you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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