Find out more about Papaya Global Data Service ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and trusted method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and specialists
Employee Website
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive advantages packages to global employees despite the variety of staff members in the business. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while eliminating the requirement to source local advantages suppliers in every nation, develop regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total work expenses dispersed per place, overall work expenses per cycle and far more.
Globally, I have actually demonstrated leadership and tactical expertise in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes handling and establishing external collaborations, 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 provider.
As an international business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a satisfaction 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 actually focused on payroll and payment options for the past 7 years. The intricacies and obstacles of this field have actually constantly captivated me.
payroll payments and chose to type 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 company side and also on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing 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 comes from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely gloomy and I wish I was elsewhere at this moment in time okay 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 Worldwide payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a strategic asset uh we'll also discuss a recap which needs to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and handling them becomes more and more complex International organizations are looking to discover Solutions and new ways to enhance processes especially from a payroll and cross-border payment viewpoint numerous companies maintain different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep separate bank accounts in some cases in various countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies improve the episode complex procedures of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in enough in one country however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add further intricacy the global Workforce is currently 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 presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the standard payroll model there's often a frustrating variety of different systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really basic there's no genuine consistency framework 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 which just blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on international payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the information is delivered to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's an excellent question I always toss this back and state what is it what does not require to be consisted of ideal and what does
it require to be considered 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 right ultimately constructing a knowledge base is definitely vital but all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 definitely basic and technology is permitting us to sort of progress with that it likewise too to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm constantly astonished when individuals state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession 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 data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to add to sort of the level of intricacy there's more and more advantages being organ or being used by organizations across the world so again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of genuine difficulties or genuine challenging sort of pay uses to play to pay people I believe yeah I mean over the last well yeah a number of years I would certainly say that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups 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 doesn't necessarily need to be the case you understand long gone are the times where we need to produce extra handoffs while doing sos that we operate in they just 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 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 requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an impact point of view on employees it is absolutely important 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 greatest destructive result on individuals's well-being and lots of other elements if people aren't paid uh I've constantly been impressed entering into this Market type of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just discover when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's viewed externally as well. Therefore, it is vital to make sure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first International Payments very first payroll payment solution is a terrific initial step towards providing a detailed payroll option for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and bank accounts necessary for global payroll are crucial consider accomplishing business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of grievances when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how important a role 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 everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na state picture the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions imagine 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 but it would certainly be an interesting job 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 attempt to browse them and really see what was going on and type of try to get back to everybody so proceeding look why do companies choose to primary different bank accounts there are businesses out there doing precisely this for particular countries and I have actually operated in a business or numerous companies doing exactly that I can say it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for anyone where we don't have to and any person that's handling 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 numerous reasons one is it's the requirement I believe people have got so used to we require a brand-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 standard the people have actually embraced and continue to do over years and years passed by to add 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 believe there's a range I believe this is a process that needs taking a look at it needs altering however eventually individuals are really stuck with what they recognize
with right um modification is a difficult thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping numerous bank accounts however there's a huge amount of complexity opts for 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 private people so the complexity is big however I believe the truthful response is change um people haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two 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 difficulties yeah naturally so there's a variety right there is so
I simply did you switched 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 International workers you should have 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
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