Find out more about Papaya Global Processing Date ... 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 actually obtained a separate Chief Financial Officer particularly committed to handling payments. This offers us with a protected and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Staff member Portal supplies staff members with the ability to gain access to and view essential files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits packages to worldwide employees despite the variety of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while removing the need to source regional advantages suppliers in every nation, create local accounts and have a minimum number of workers.
The HR abilities provided by Worldwide HR incorporate different functions such as monitoring holiday time, ensuring compliance, facilitating the process of inviting brand-new staff members and bidding goodbye to leaving ones, offering a safe and secure online platform for keeping employees' documents, and providing support for work permit procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce variety, overall work costs distributed per place, overall work expenses per cycle and a lot more.
Globally, I have actually shown leadership and strategic know-how in directing massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for managing payroll strategies, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
As a global business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and difficulties of this field have always mesmerized me.
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I have actually sort of had a variety of different functions on the provider side and likewise on the vendor side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply offer everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's very really uninspiring and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain separate
savings 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 possession uh we'll also discuss a wrap-up which should leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more common and managing them becomes increasingly more intricate International companies are seeking to discover Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment perspective many companies keep different savings account just for payroll while some have multiple accounts in various nations does it make sense for business to preserve different savings account in some cases in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country however when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they add further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's often an overwhelming variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or really very standard there's no real consistency structure we're living in an age of tech however payroll has 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 a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a company invests in international payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of global companies have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors improperly interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is delivered to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a great concern I constantly throw this back and say what is it what does not require to be included best and what does
it require to be thought about there's differing Bank information 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 need to pay from the consumer's own in-country account so there's intricacy any place you look right ultimately constructing a knowledge base is absolutely critical but all over you look with payroll payment they are like very payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is permitting us to kind of move forward with that it also as well to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely important that payroll and finance groups work closer together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 often split and cut up um ultimately 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 however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to contribute to type of the level of intricacy there's increasingly more advantages being organ or being provided by organizations across the world so again you're simply seeking to include more and more payments to this already intricate 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 kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would definitely say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any company has from a cost viewpoint from an impact perspective on staff members it is absolutely critical that it's done correctly and on time so what we imply 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 damaging result on individuals's well-being and numerous other aspects if people aren't paid uh I have actually constantly been surprised entering into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team may 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 staff members or not. Payroll is an essential cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally also. For that reason, it is important to make sure that jobs like Wi-Fi Global and other essential matters are done properly. Using the first International Payments very first payroll payment service is a fantastic preliminary action towards offering an extensive payroll solution for employees worldwide. Standardization, international processes, and lowering the number of tools, platforms, and bank accounts needed for worldwide payroll are key factors in accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as planned. Eventually, we do not do it for the appreciation.
anyway we understand how how essential 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 procedures and likewise so picture sorry I'm just I was simply gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and in fact see what was going on and kind of try to return to everyone so carrying on appearance why do companies pick to primary separate savings account there are organizations out there doing precisely this for particular nations and I have actually worked in an organization or lots of companies doing exactly that I can say it doesn't always feel efficient and it does create more work I understand we're not intentionally doing that we're not producing extra work for anybody where we do not have to and anybody that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I believe people have got so used to we require a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a process that requires looking at it needs changing but ultimately people are very stuck with what they're familiar
with best um change is a challenging thing all of us do not like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving multiple checking account however there's a huge quantity of intricacy goes with establishing a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for individual individuals so the intricacy is huge however I think the honest response is modification um people have not been able to alter or have not had always the understanding to really make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of carrying on and moving into you understand what might almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does posture numerous challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global workers you are worthy of a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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