Find out more about Papaya Global Helpdesk ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and dependable method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
Employee Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive advantages packages to global staff members no matter the variety of workers in the business. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source regional advantages providers in every country, create local accounts and have a minimum variety of workers.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work costs distributed per area, overall work expenses per cycle and a lot more.
Globally, I have shown management and strategic know-how in guiding large-scale populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for managing payroll methods, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for many influential business on the planet we provide payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good evening depending on where you remain in the world it's beautiful 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've been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually type of had a range of different roles on the company side and also on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply offer everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody originates from and I truly 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 drizzling here it's really really uninspiring and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic property uh we'll likewise go over a wrap-up and that ought to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of typical and handling them becomes a growing number of complicated Worldwide companies are aiming to discover Solutions and brand-new methods to enhance processes particularly from a payroll and cross-border payment standpoint numerous organizations preserve different savings account just for payroll while some have several accounts in different nations does it make good sense for business to keep different savings account sometimes in different nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational business simplify the episode complex processes of
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one nation however when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they include further 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 presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll model there's frequently an overwhelming number of different systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or extremely really basic there's no genuine consistency structure we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that offers me sleepless nights and quite honestly the more a business spends on international payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of worldwide companies have expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes inadequately 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 incorrect place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they rely on the necessary 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 paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what does not require to be consisted of right and what does
it require to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 essential and technology is permitting us to sort of move forward with that it likewise too to add to that payroll and financing need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always surprised when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 frequently 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 any place they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the payment landscape is becoming increasingly complex. Businesses are constantly presenting new advantages and payment choices, which contributes to the overall intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my opinion, this does not have to hold true. In today's highly sophisticated age, there's no validation for keeping troublesome procedures. Payroll, the business's most significant expense, must be processed properly and on time. Even small hold-ups can negatively affect workers' well-being and have significant effects. Therefore, it's critical to prioritize accurate and timely payments.
The payroll team might not have actually been thanked for properly processing payroll during a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just discover when things go wrong. Nevertheless, when things go right, it's seen as simply a regular task. This is how it's viewed externally too. For that reason, it is necessary to guarantee that tasks like Wi-Fi International and other vital matters are done correctly. Using the very first Worldwide Payments very first payroll payment service is a fantastic preliminary step towards providing a thorough payroll solution for staff members worldwide. Standardization, global processes, and minimizing the variety of tools, platforms, and savings account essential for global payroll are crucial factors in attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as prepared. Eventually, we do not do it for the thankfulness.
anyway we know how how important 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 associated with those procedures and also so imagine sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions envision getting that numerous 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 definitely be an interesting job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of shot to get back to everyone so moving on look why do companies select to main different checking account there are companies out there doing precisely this for particular nations and I have actually operated in an organization or numerous companies doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for any person where we don't have to and any person that's handling 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 think many factors one is it's the requirement I believe people have got so utilized to we need a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have 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 lots of other ways um to to kind of do it so I think there's a variety I believe this is a process that needs looking at it needs altering but eventually people are very stuck with what they recognize
with right um change is a difficult thing all of us don't 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 stuff um I comprehend undoubtedly the advantages of having preserving numerous checking account however there's a huge quantity of intricacy opts for setting up a checking account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for individual people so the complexity is big however I think the truthful answer is change 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 believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we have actually constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or so there is a lot to keep track of and this approach does posture several obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I recently made a change to our Business 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 actually gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is more detailed, considering your achievements.
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