Find out more about What Does Papaya Global Do ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and dependable technique of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies offer competitive advantages bundles to international workers no matter the variety of staff members in the business. The company can establish health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every country, create local accounts and have a minimum variety of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment costs distributed per place, overall employment expenses per cycle and much more.
Worldwide, I have demonstrated leadership and tactical know-how in assisting massive populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for overseeing payroll strategies, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for the majority of prominent business worldwide we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good evening depending on where you are in the world it's charming to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually kind of had a variety of different roles on the provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply provide everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really really uninspiring and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more common and handling them ends up being more and more complex Global organizations are aiming to discover Solutions and new ways to streamline processes specifically from a payroll and cross-border payment perspective lots of companies preserve separate bank account just for payroll while some have numerous accounts in various nations does it make sense for companies to keep different bank accounts often in different countries it does but just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments precisely effectively securely and on time during this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most notably regulations compliance data security and banking guidelines then there are the sheer numbers they add further complexity the global Labor force is presently three and a half billion people 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 factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the traditional payroll design there's often an overwhelming number of different systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or extremely very fundamental there's no genuine consistency structure we're residing in a period of tech however payroll has actually 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 whenever I I think
about it to provide you a concept 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 provides me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is delivered to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money all over the world payroll and payments don't 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 difficulties company face when they're paying to employees or otherwise that's an excellent concern I always throw this back and say what is it what does not need to be consisted of ideal and what does
it require to be thought about there's differing 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 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 wherever you look best eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you 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 definitely essential and innovation is permitting us to type of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing groups work better together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 procedure it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to contribute to kind of the level of intricacy there's more and more benefits being organ or being provided by organizations across the world so once again you're simply seeking to include more and more payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine challenges or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they do not 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 challenging as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any service has from an expense perspective from an impact point of view on employees it is definitely critical 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 effect on people's well-being and lots of other factors if individuals aren't paid uh I have actually constantly been surprised entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm unsure anybody on this kind of webinar has actually been informed 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 an important cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done properly so leveraging the first International Payments very first payroll payment solution is a fantastic initial step um offering an end-to-end payroll solution for your employees worldwide once again I believe is another substantial um procedure again aligning and ensuring you have standardization International processes all of those things are definitely key to success success of companies and minimizing the variety of tools platforms and savings account they need for their International payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyway we understand how how essential 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 procedures and likewise so think of sorry I'm just I was simply gon na say think of the amount 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 hundreds of thousands potentially Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh definitely 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 check out them and really see what was going on and sort of shot to get back to everybody so proceeding appearance why do companies choose to primary separate savings account there are businesses out there doing exactly this for specific nations and I've operated in a business or numerous businesses doing exactly that I can state it does not always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing additional work for any person where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe lots of reasons one is it's the standard I think individuals have got so used to we need a brand-new checking account we open an entity and appropriately so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it requires changing but ultimately individuals are really stuck to what they're familiar
with right um change is a tough thing all of us do not like change um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having preserving several checking account but there's a substantial quantity of intricacy goes with setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is huge however I think the honest response is modification um individuals have not been able to change or haven't had always the understanding to actually 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 understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century or so there is a lot to keep track of and this method does position numerous challenges um so Johnny could you inform us about those difficulties yeah obviously so there's a range 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 tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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