Find out more about Rti On Papaya Global ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and trustworthy technique of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Worker Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to worldwide staff members no matter the variety of staff members in the company. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, create local accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, overall work expenses distributed per place, overall work expenses per cycle and a lot more.
Globally, I have actually demonstrated leadership and tactical competence in guiding massive populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's a pleasure to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of various functions on the service provider side and also 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 everyone okay thanks Johnny uh we'll just give 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 sort of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 raining here it's very really dreary and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll also review a recap and that must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them becomes increasingly more complex Worldwide companies are wanting to find Solutions and new ways to enhance processes especially from a payroll and cross-border payment viewpoint lots of companies keep separate savings account just for payroll while some have numerous accounts in different nations does it make sense for business to keep different savings account often in various nations it does but just for payroll is there a much 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 efficiently safely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in enough in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most importantly regulations compliance information security and banking rules then there are the large numbers they add more intricacy the global Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the traditional payroll model there's frequently an overwhelming number of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely really fundamental there's no genuine consistency framework we're residing in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a business spends on worldwide payroll the less of an image they see a lack of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of global companies have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information information entry errors badly communicated hires and terminations along with lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the necessary multiple processes 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 organization face when they're paying to workers 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 ideal and what does
it need to be thought about there's differing 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 consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort 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 fundamental and technology is permitting us to type of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Checking account Details differing banking requirements and setup processes is definitely important that payroll and finance groups work better together than ever um I'm always amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide 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 individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more essential to add to kind of the level of intricacy there's a growing number of benefits being organ or being used by businesses across the world so again you're just wanting to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real difficulties or genuine tough sort of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would certainly say that the larger a business 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 info into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate 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 a period of tech and a period that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any service has from a cost viewpoint from an impact viewpoint on employees it is absolutely important that it's done properly 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 most significant harmful impact on individuals's wellness and lots of other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just see when things go wrong. However, when things go right, it's viewed as simply a regular task. This is how it's viewed externally as well. Therefore, it is essential to make sure that jobs like Wi-Fi International and other vital matters are done properly. Using the first Global Payments first payroll payment solution is a terrific initial action towards offering a comprehensive payroll service for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are essential factors in accomplishing company success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few complaints when things do not go as planned. Ultimately, we do not do it for the appreciation.
anyhow we understand how how important a function 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 associated with those processes and also so envision sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions imagine getting that lots of 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 a fascinating task attempting to clean up all those up for sure oh definitely 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 really see what was going on and kind of shot to return to everybody so proceeding look why do companies select to primary different checking account there are businesses out there doing precisely this for specific nations and I've worked in a service or many services doing precisely that I can say it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not developing additional work for anyone where we don't have to and any person that's managing 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 quantity that we are I believe numerous factors one is it's the standard I think individuals have actually got so used to we require a brand-new bank account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing but eventually people are extremely stuck with what they're familiar
with right um modification is a challenging thing all of us do not like change um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping several bank accounts but there's a huge quantity of complexity opts for establishing a bank account keeping it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private individuals so the complexity is big however I believe the honest response is modification um people haven't been able to alter or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this approach does posture several difficulties um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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