P60 Papaya Global

Find out more about P60 Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and reliable method of making payments to our 10,000 staff members worldwide.}

the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors

Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment documents. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.

Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide workers no matter the number of workers in the business. The company can establish health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, create regional accounts and have a minimum number of workers.

International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work authorization assistance.

HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment costs dispersed per place, total employment expenses per cycle and far more.

Globally, I have demonstrated leadership and tactical proficiency in assisting large-scale populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for managing payroll strategies, as mentioned by Mark. My function includes managing and developing external collaborations, supporting Business customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.

company to make the time 100 list for the majority of prominent companies on the planet we supply payroll payments and workforce management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good evening depending on where you are in the world it's charming to fulfill 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 market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the trouble in all of the above of

payroll payments and decided to type of make a real go at that over the last 5 or six years where I have actually type of had a variety of various roles on the service provider side and also on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting 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 everybody originates from and I truly do hope it's much sunnier than it remains 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 really really bleak and I want 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 managing 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 enhancing papaya International payroll payments as a strategic property uh we'll likewise discuss a recap and that needs to leave his time at the extremely very 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 Global labor forces become increasingly more typical and handling them ends up being increasingly more complex International companies are seeking to discover Solutions and new methods to improve processes specifically from a payroll and cross-border payment standpoint numerous organizations maintain separate savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to preserve separate savings account often in various countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business improve the episode complex processes of

making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies 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 tough in enough in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they include additional intricacy the international Workforce is currently three and a half billion individuals by 2030 it's estimated 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 companies and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming number of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or extremely very standard there's no real consistency structure we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I think

about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in international payroll the less of a photo they see an absence of presence also reaches payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of worldwide companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors badly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the wrong location the average cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments do not run smoothly if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're making payments to workers or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be included right and what does

it require to be thought about 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 need 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 ideal eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to kind of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely vital that payroll and financing teams work more detailed together than ever um I'm always amazed when people say I've divided 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 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the

world we live in and well-being being increasingly more crucial to contribute to kind of the level of complexity there's increasingly more advantages being organ or being offered by businesses across the world so once again you're simply looking to add more and more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or real difficult type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would certainly state that the bigger 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 info into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an age that you understand that we are working in today there is no reason why we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single most significant liability that any company has from an expense perspective from an effect perspective on employees it is definitely 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 greatest detrimental impact on individuals's wellness and numerous other elements if people aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to 10 years is how little thanks the

payroll group get um so I'm unsure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is a terrific initial step um providing an end-to-end payroll option for your workers internationally once again I believe is another big um process once again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of businesses and reducing the number of tools platforms and checking account they need for their Global 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 thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone rather where they're suggested to be um I don't think any of us are in fact doing that for for the thanks

anyhow we know how how essential 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 simple as possible for everyone that's involved in those procedures and also so envision sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions picture getting that numerous thank you notes um I suggest 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 absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and in fact see what was going on and kind of try to return to everyone so moving on look why do companies pick to primary separate checking account there are companies out there doing exactly this for specific nations and I have actually worked in a business or numerous organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anyone where we do not have to and anybody 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 quantity that we are I believe numerous reasons one is it's the standard I think people have got so used to we need a brand-new checking account we open an entity and rightly 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 just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to sort of do it so I believe there's a range I believe this is a process that needs looking at it needs changing but ultimately people are extremely stuck to what they're familiar

with ideal um modification is a hard thing all of us do not like change um so I believe it's simply kind 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 clearly the benefits of having keeping several checking account but there's a huge quantity of intricacy goes with establishing a bank account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is huge however I believe the truthful response is change um people haven't had the ability to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century or so there is a lot to keep track of and this technique does pose a number of obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so

I just did you switched our Business 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 International staff members you deserve a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you

Nominal Link Settings Papaya Global