Find out more about Papaya Global Courses London ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and dependable approach of paying to our 10,000 employees worldwide.}
The advanced worldwide payroll management app improves my payroll process, saving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
The Staff member Website supplies workers with the capability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to worldwide employees no matter the number of employees in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional benefits service providers in every country, produce regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by Global HR include various functions such as monitoring holiday time, ensuring compliance, facilitating the procedure of welcoming brand-new staff members and bidding goodbye to departing ones, providing a protected online platform for keeping employees' documents, and supplying support for work allow procedures in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, total employment costs distributed per location, overall employment expenses per cycle and much more.
Globally, I have demonstrated leadership and tactical competence in assisting massive populations of over 100,000 workers across 170 countries. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for many prominent business in the world we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon great night depending on where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated 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 dealing with the payroll and payment sector for over seven years um I was captivated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually kind of had a variety of different roles on the company side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everybody another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating 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 everyone comes from and I really do hope it's much sunnier than it remains 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 uninspiring and I wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be taking a look at the challenge years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise discuss a recap and that should leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of typical and managing them becomes increasingly more intricate Worldwide organizations are seeking to find Solutions and brand-new methods to streamline procedures particularly from a payroll and cross-border payment perspective numerous organizations keep different checking account just for payroll while some have several accounts in different countries does it make good sense for companies to maintain different savings account often in different countries it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business enhance the episode complex procedures of
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most importantly regulations compliance data security and banking rules then there are the large numbers they include further intricacy the international Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll design there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very extremely fundamental there's no real consistency framework we're residing in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization invests in global payroll the less of a picture they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of global organizations have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry errors improperly communicated hires and terminations in addition to absence management and system configurations and then when you round it all off and the information is delivered to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties company face when they're making payments to workers or otherwise that's an excellent concern I always toss this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 any place you look right ultimately building a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is enabling us to kind of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm always surprised when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to kind of the level of complexity there's a growing number of benefits being organ or being offered by organizations throughout the world so once again you're just aiming to add 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 make certain however have you got any experience in kind of real difficulties or real tough sort of pay uses to play to pay people I think 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 info into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any company has from a cost viewpoint from an impact perspective on workers it is definitely critical that it's done correctly and on time so what we mean 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 individuals's well-being and lots of other factors if individuals aren't paid uh I've always been astonished entering this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally also. Therefore, it is essential to make sure that tasks like Wi-Fi International and other essential matters are done properly. Using the very first Worldwide Payments very first payroll payment solution is an excellent initial step towards supplying a detailed payroll option for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts necessary for international payroll are essential factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we know 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 involved in those procedures and likewise so imagine sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're talking about hundreds of thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating task trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of try to return to everyone so carrying on look why do companies choose to primary different bank accounts there are businesses out there doing precisely this for particular nations and I have actually operated in a business or lots of companies doing exactly that I can state it doesn't always feel effective and it does develop more work I understand we're not deliberately doing that we're not producing additional work for anyone where we do not have to and any person 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 lots of reasons one is it's the standard I think people have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have actually taken a look at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I believe this is a procedure that needs looking at it requires changing however eventually individuals are very stuck with what they recognize
with ideal um change is a tough thing we all do not like modification um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having maintaining several checking account but there's a substantial amount of intricacy chooses establishing a checking account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is huge however I believe the truthful answer is modification um individuals have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this technique does pose a number of difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this improved ability, I have successfully protected payments for our 10,000 workers worldwide. Your devotion 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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