Find out more about Papaya Global Processing ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and trusted method of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive advantages packages to international workers regardless of the variety of staff members in the company. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits companies in every nation, create regional accounts and have a minimum number of employees.
The HR capabilities provided by Worldwide HR encompass numerous functions such as monitoring holiday time, ensuring compliance, helping with the process of welcoming new employees and bidding goodbye to departing ones, providing a safe online platform for storing employees' documents, and providing support for work permit treatments in case your workers require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total employment costs distributed per place, total work costs per cycle and a lot more.
Globally, I have actually demonstrated leadership and tactical know-how in directing massive populations of over 100,000 employees across 170 countries. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
As a global business, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to meet 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 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've type of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it remains 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 extremely extremely uninspiring and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll likewise discuss a recap which must leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more typical and managing them becomes more and more complex Worldwide organizations are looking to discover Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment standpoint many organizations keep different checking account just for payroll while some have numerous accounts in different countries does it make sense for business to preserve different savings account often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business streamline the episode complex procedures of
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most notably policies compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the worldwide Labor force 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 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 conventional payroll model there's typically a frustrating variety of various systems resulting in lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or really really standard there's no genuine consistency structure we're living in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind every time I I believe
about it to give you an idea 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 offers me sleepless nights and rather frankly the more a business spends on international payroll the less of a photo they see a lack of exposure likewise extends to payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide companies 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 mistakes are due to time reporting poor HCM information data entry errors improperly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're making payments 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 best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy wherever you look ideal ultimately constructing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble super payments no if but some children about it you are all superheroes processing payments for payroll if you take a 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 technology is enabling us to kind of move forward with that it also too to add to that payroll and finance require to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work better together than ever um I'm always astonished when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not 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 often split and cut up um ultimately 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 however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being offered by companies throughout the world so once again you're simply aiming to include increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine difficult type of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would definitely state that the larger an organization 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 teams feeding information into the next function as it were that's in fact managing the payment side of things however 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 require to produce additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and rightly as you stated payroll is the single most significant liability that any service has from a cost viewpoint from an effect point of view on employees it is definitely critical that it's done properly and on time so what we mean 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 damaging result on individuals's well-being and lots of other elements if people aren't paid uh I have actually always been amazed entering this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um but ultimately payroll is such a crucial cycle all of us hear about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment option is an excellent primary step um providing an end-to-end payroll solution for your staff members internationally once again I believe is another big um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of businesses and reducing the number of tools platforms and bank accounts they need for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know 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 easy as possible for everybody that's involved in those processes and also so picture sorry I'm just I was just gon na state envision the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of 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 but it would definitely be an intriguing task attempting to clean up 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 need days of the week to try to check out them and actually see what was going on and type of shot to get back to everybody so moving on appearance why do companies select to main different savings account there are services out there doing precisely this for particular countries and I've worked in a company or numerous businesses doing precisely that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for any person where we do not have to and anybody that's dealing with that process 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 think people have got so used to we need a brand-new checking 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 the people have actually adopted 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 many other ways um to to type of do it so I think there's a range I believe this is a procedure that needs taking a look at it requires altering however ultimately individuals are extremely stuck with what they're familiar
with right um change is a difficult thing we all don't like change um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining numerous savings account but there's a big amount of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is substantial but I believe the truthful answer is change um people haven't had the ability to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you know what might practically be figured out to be the next Century approximately there is a lot to monitor and this approach does posture a number of obstacles um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has acquired another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 workers worldwide. Your dedication to mastering international 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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