Find out more about Papaya Global Reinstate Leaver ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and trusted method of paying to our 10,000 employees worldwide.}
The advanced international payroll management app improves my payroll procedure, saving me a significant quantity of time every month. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and professionals.
The Employee Website supplies employees with the capability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to global workers despite 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 requirement to source local benefits suppliers in every nation, produce local accounts and have a minimum variety of employees.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work expenses distributed per location, total work expenses per cycle and much more.
Worldwide, I have shown leadership and tactical expertise in directing large-scale populations of over 100,000 workers across 170 nations. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
business to make the time 100 list for most prominent business in the world we supply payroll payments and labor force management to all worker key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon good evening depending upon where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian said 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 specifically dealing with the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've sort of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just give everyone 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 type of let them do that so it 'd be rather fascinating 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 everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely gloomy and I want I was somewhere else at this moment in time alright so let's get going our program for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll also go over a wrap-up which should leave his time at the extremely extremely 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 Worldwide labor forces become a growing number of typical and managing them becomes more and more complex Global organizations are wanting to find Solutions and brand-new methods to simplify processes especially from a payroll and cross-border payment viewpoint numerous companies preserve different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to preserve different bank accounts often in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business improve the episode complex procedures of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one country but when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most significantly policies compliance data security and banking rules 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 further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's typically an overwhelming variety of various systems leading to lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or very really standard there's no genuine consistency framework we're residing 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 frequently with pen and paper and that just blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that provides me sleepless nights and rather frankly the more a service invests in global payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of worldwide companies have revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes poorly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run efficiently if they rely on the essential numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's an excellent question I always toss this back and state what is it what does not need to be consisted of ideal and what does
it need to be considered 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they are like super 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 between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to type of progress with that it likewise too to add to that payroll and finance require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work better together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being increasingly more important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being offered by companies throughout the world so again you're just wanting 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 however have you got any experience in kind of genuine difficulties or real challenging type of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would certainly say that the larger a company 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 groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we need to create extra handoffs in the processes that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from an expense point of view from an impact perspective on workers it is definitely vital 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 have to be done right it has the most significant damaging effect on individuals's well-being and many other elements if people aren't paid uh I've constantly been impressed entering into this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done correctly so leveraging the first International Payments first payroll payment service is a great primary step um offering an end-to-end payroll solution for your employees worldwide once again I believe is another huge um procedure again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of services and decreasing the variety of tools platforms and checking account they require for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things have not gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand 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 everyone that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions think of getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting job trying to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and sort of try to return to everyone so proceeding appearance why do companies pick to main different checking account there are services out there doing exactly this for specific countries and I've operated in a company or numerous organizations doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not creating additional work for anyone where we do not have to and any person that's managing 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 amount that we are I believe numerous reasons one is it's the standard I think individuals have actually got so utilized to we need a new bank 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 just been the standard and the norm the people have embraced and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I believe this is a procedure that requires looking at it needs changing but ultimately individuals are really stuck with what they recognize
with best um modification is a hard thing all of us don't like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving multiple savings account but there's a substantial quantity of intricacy chooses establishing a bank account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for specific people so the complexity is substantial but I think the truthful answer is modification um individuals have not had the ability to alter or have not had always the understanding to actually make that change into alternate Solutions besides 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 aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on 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 method does posture several challenges um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gained 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 utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is better, considering your achievements.
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