Find out more about Papaya Global Subscription ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This offers us with a secure and reputable approach of paying to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Employee Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business provide competitive benefits packages to worldwide staff members regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the requirement to source regional benefits suppliers in every nation, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, workforce diversity, total work costs dispersed per location, overall employment costs per cycle and a lot more.
Globally, I have demonstrated leadership and tactical proficiency in guiding large-scale populations of over 100,000 employees across 170 countries. Currently, I are accountable for overseeing payroll techniques, as mentioned by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a worldwide company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, despite your place. It's an enjoyment to satisfy you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment options for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually sort of had a range of various functions on the service provider side and also on the vendor side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I really do hope it's much sunnier than it remains 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 very extremely dreary and I wish I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical asset uh we'll also discuss a wrap-up and that needs to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them becomes more and more complex Worldwide organizations are wanting to find Solutions and new methods to improve processes specifically from a payroll and cross-border payment viewpoint lots of companies maintain separate savings account just for payroll while some have numerous accounts in different countries does it make good sense for companies to preserve separate savings account sometimes in different nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business improve the episode complex processes of
Ensuring precise, efficient, and prompt payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll savings account, discover how business anticipate payroll costs to optimize working capital, and discover how improving worldwide payroll payments can change them from a difficult task into a strategic possession.
Handling payroll internationally is a daunting job due to various regulations, compliance requirements, data security issues, and banking rules. The sheer variety of workers and services contributes to the complexity, with an estimated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual procedures, data silos, and a lack of integration, resulting in disparities and inadequacies. Regardless of residing in an era of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar goals to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide organizations have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM information information entry mistakes poorly interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the incorrect location the average cost of an international 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 count on the required multiple processes 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 challenges service face when they're making payments to workers or otherwise that's an excellent concern I always toss this back and state what is it what doesn't require to be consisted of right and what does
it require to be thought of there's differing 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 have to pay from the consumer's own in-country account so there's complexity anywhere you look best ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if however some infants 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 definitely fundamental and innovation is permitting us to type of move on with that it also too to contribute to that payroll and finance need to work closer together um with differing Bank Account Details differing banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm always surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market 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 data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to type of the level of intricacy there's a growing number of benefits being organ or being used by organizations throughout the world so once again you're simply aiming to include more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real obstacles or genuine difficult sort of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of years I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually 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 know long gone are the times where we require to develop additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an era that you understand that we are operating in today there is no reason why we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any business has from an expense perspective from an effect perspective on staff members it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging result on people's wellness and lots of other factors if individuals aren't paid uh I have actually always been impressed coming into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment option is a great initial step um offering an end-to-end payroll service for your staff members globally once again I think is another big um process once again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of services and reducing the variety of tools platforms and savings account they require for their Worldwide 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 have actually never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't think any of us are actually doing that for for the thanks
anyhow we understand how how important a function 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 likewise so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely 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 require days of the week to try to look through them and in fact see what was going on and type of shot to return to everybody so carrying on appearance why do companies select to main separate savings account there are businesses out there doing precisely this for particular countries and I have actually operated in a company or many organizations doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anyone where we do not need 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 quantity that we are I believe numerous factors one is it's the requirement I think individuals have got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires altering however ultimately individuals are extremely stuck with what they're familiar
with ideal um change is a difficult thing we all don't like change um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping multiple checking account but there's a big quantity of complexity opts for setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the complexity is huge but I believe the honest answer is modification um people haven't had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to keep track of and this technique does present numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I simply did you switched our Enterprise 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 employees you deserve a corner workplace with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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