Find out more about Papaya Global Locked By Another User ... We now have the capability to manage both our payroll and payments processes 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 provides us with a secure and reputable approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Employee Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to international workers despite the variety of employees in the company. The company can establish health insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every nation, develop local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, overall employment costs distributed per location, overall employment costs per cycle and a lot more.
Worldwide, I have actually shown management and strategic expertise in directing large-scale populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My role involves managing and developing external partnerships, supporting Business customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential companies in the world we provide payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon good night depending on where you are in the world it's charming to meet 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 specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've type of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently 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 is in the UK today certainly not the peak of the sunlight 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 fine so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll also discuss a recap which ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and managing them ends up being a growing number of complicated Worldwide organizations are aiming to find Solutions and brand-new methods to simplify procedures specifically from a payroll and cross-border payment perspective numerous organizations preserve separate checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to maintain different savings account in some cases in different countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational business enhance the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide 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 streamlining International payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add more intricacy the international Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals 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 conventional payroll design there's often an overwhelming variety of various systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or very very standard there's no genuine consistency framework we're residing in an era of tech but 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 believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more a service invests in international payroll the less of an image they see an absence of presence likewise encompasses payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal nearly half of global businesses have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the incorrect place the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the needed multiple procedures 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 obstacles business face when they're making payments to employees or otherwise that's an excellent concern I constantly throw this back and state what is it what does not need to be included best and what does
it need to be thought of there's varying 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look right eventually developing a knowledge base is definitely critical 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 look at the type 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 absolutely essential and innovation is enabling us to sort of progress with that it also too to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely vital that payroll and finance groups work better together than ever um I'm always impressed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to kind of the level of intricacy there's increasingly more benefits being organ or being used by services throughout the world so again you're just looking to add increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine difficulties or real difficult kind of pay utilizes to play to pay individuals I believe yeah I suggest 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 operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in an age of tech and an age that you know that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single biggest liability that any company has from an expense viewpoint from an impact perspective on employees it is absolutely important that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental result on individuals's well-being and lots of other aspects if individuals aren't paid uh I have actually always been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done properly so leveraging the first Worldwide Payments very first payroll payment option is a great initial step um offering an end-to-end payroll solution for your workers globally once again I believe is another substantial um process once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and savings account they require for their Worldwide 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 have actually never had a hundred thousand of them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not think any of us are in fact doing that for for the thanks
anyhow we understand how how essential a role 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 everyone that's involved in those processes and also so picture sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions picture getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting to clean 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 need days of the week to attempt to look through them and really see what was going on and type of shot to get back to everyone so carrying on appearance why do companies pick to main different bank accounts there are services out there doing precisely this for particular countries and I've operated in a company or lots of organizations doing exactly that I can say it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not creating extra work for anybody where we do not have to and anyone that's handling 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 requirement I believe people have actually got so utilized to we require a brand-new checking account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm the people have actually adopted 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 many other methods um to to sort of do it so I believe there's a range I think this is a process that needs looking at it requires changing however ultimately people are really stuck to what they recognize
with best um change is a tough thing all of us do not like change um so I believe it's just kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining multiple bank accounts however there's a substantial quantity of complexity chooses establishing a bank account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is big however I think the truthful answer is modification um individuals have not been able to alter or have not had always the understanding to actually make that change into alternate Solutions other than opening a bank 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 alter but we have actually constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century approximately there is a lot to keep track of and this method does position numerous obstacles um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you changed 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 employees you are worthy of a corner office with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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