Find out more about Papaya Global Nest Pension ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and dependable approach of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and specialists
Employee Website
Workers have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to international workers despite the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages service providers in every country, develop local accounts and have a minimum variety of workers.
The HR abilities provided by International HR include various functions such as keeping track of holiday time, ensuring compliance, facilitating the procedure of inviting brand-new staff members and bidding goodbye to leaving ones, providing a secure online platform for keeping employees' documents, and supplying support for work allow treatments in case your employees require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work costs distributed per location, total work expenses per cycle and far more.
Globally, I have demonstrated leadership and strategic proficiency in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves handling and establishing external partnerships, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
company to make the time 100 list for many prominent companies in the world we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending on where you are in the world it's charming to satisfy 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 been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've kind of had a variety of different functions on the company side and also on the supplier side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort 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 sort of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely bleak and I wish I was somewhere else at this moment in time fine 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 handling International payroll why business maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a strategic asset uh we'll likewise review a wrap-up and that ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and managing them ends up being increasingly more complicated Global companies are looking to discover Solutions and brand-new methods to enhance procedures particularly from a payroll and cross-border payment perspective many companies preserve different bank account just for payroll while some have numerous accounts in different countries does it make sense for business to maintain separate savings account sometimes in different nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in enough in one country but when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most notably guidelines compliance data security and banking guidelines then there are the large numbers they add more intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 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 conventional payroll model there's typically an overwhelming number of different systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or very extremely standard there's no genuine consistency framework we're living in a period 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 typically with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that provides me sleep deprived nights and rather frankly the more a business invests in worldwide payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide companies have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes poorly interacted hires and terminations in addition to absence management and system setups and then when you round everything off and the information is delivered to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they rely on the necessary 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 obstacles company face when they're paying to workers or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be consisted of best 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 capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like extremely 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 between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is enabling us to sort of progress with that it also as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely vital that payroll and finance teams work closer together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 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 a growing number of essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by services across the world so once again you're simply seeking to include increasingly more payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure however have you got any experience in kind of real obstacles or genuine difficult kind of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would definitely state that the larger a business 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 really managing the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from a cost viewpoint from an effect viewpoint on staff members it is definitely crucial 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 have to be done right it has the biggest destructive result on individuals's wellness and numerous other elements if people aren't paid uh I've always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people only observe when things go wrong. However, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. Therefore, it is important to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Using the very first Worldwide Payments very first payroll payment option is a fantastic initial action towards offering a comprehensive payroll option for employees worldwide. Standardization, worldwide processes, and minimizing the variety of tools, platforms, and checking account essential for international payroll are key consider accomplishing company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand how how important 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 associated with those processes and also so think of sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an interesting task trying 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 look through them and actually see what was going on and sort of try to return to everybody so carrying on look why do business select to primary separate savings account there are services out there doing precisely this for specific countries and I have actually operated in a service or lots of businesses doing precisely that I can state it does not always feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for any person where we do not need 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 think many reasons one is it's the standard I think individuals have actually got so utilized to we need a new savings account we open an entity and appropriately so you require 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 standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a procedure that needs looking at it requires changing but ultimately individuals are extremely stuck with what they're familiar
with best um modification is a hard thing we all don't like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend undoubtedly the benefits of having preserving several checking account but there's a huge amount of intricacy chooses establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for specific individuals so the intricacy is big but I believe the honest response is change um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I think you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does posture numerous obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a range right there is so
I just 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 Worldwide workers you deserve a corner office with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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