Find out more about Papaya Global ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trustworthy technique of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app improves my payroll procedure, saving me a significant amount of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and specialists.
The Staff member Website provides employees with the ability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide employees despite the variety of workers in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local benefits service providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR incorporate different functions such as monitoring trip time, ensuring compliance, helping with the process of welcoming brand-new staff members and bidding goodbye to leaving ones, using a safe online platform for keeping workers' files, and offering support for work allow procedures in case your employees need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment expenses dispersed per area, overall employment expenses per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and options along with functioning as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and labor force 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, no matter your place. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of different functions on the company side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very really uninspiring and I wish I was elsewhere at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve separate
Virtual payroll accounts are an option to conventional checking account for handling payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping different savings account for payroll in different nations, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical asset for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most importantly policies compliance information security and banking guidelines then there are the large numbers they add additional intricacy the international Labor force is presently 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 around the world in the conventional payroll design there's frequently an overwhelming variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no real consistency structure we're living in an era of tech however 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 and that simply 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 just 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in worldwide payroll the less of a picture they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of international companies have revealed 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 because of time reporting poor HCM information information entry mistakes improperly interacted hires and terminations along with absence 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 data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they count on the needed several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't need to be consisted of best and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's complexity any place you look right ultimately building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble incredibly payments no if however some children 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 recognition that payroll payments are definitely basic and innovation is allowing us to type of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm always impressed when people state I have actually 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 a market accept that why our payroll and payments so typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of complexity there's increasingly more benefits being organ or being used by services across the world so once again you're simply wanting to add increasingly more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine challenges or real challenging type of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would certainly say that the larger a company 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 groups feeding details into the next function as it were that's in fact handling the payment side of things but you understand 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 require to create extra handoffs at the same times that we run in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason that we are still making this as tough as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact point of view on workers it is definitely vital 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 result on people's wellness and lots of other aspects if individuals aren't paid uh I have actually constantly been astonished coming into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first Global Payments first payroll payment service is a great first step um offering an end-to-end payroll solution for your workers worldwide again I think is another substantial um procedure once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of services and reducing the number of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we know how how essential a role 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 easy as possible for everybody that's involved in those procedures and also so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions picture getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and type of try to return to everybody so moving on look why do business select to primary different savings account there are organizations out there doing exactly this for particular countries and I've worked in a business or many businesses doing precisely that I can say it doesn't always feel efficient and it does create more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and anyone that's managing 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 amount that we are I think lots of reasons one is it's the requirement I believe people have got so used to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing but eventually individuals are really stuck with what they recognize
with ideal um modification is a difficult thing all of us don't like change um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the advantages of having keeping numerous savings account however there's a big quantity of complexity chooses setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the complexity is substantial however I believe the sincere answer is change um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to alter however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to keep track of and this technique does posture several difficulties um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I simply 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 Global workers you are worthy of a corner workplace with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
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