Find out more about Papaya Global Tutorial Youtube ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a secure and dependable approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Worker Website provides staff members with the capability to access and view essential files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international workers regardless of the number of staff members in the business. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source local advantages providers in every country, create local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total employment expenses dispersed per location, total work expenses per cycle and a lot more.
Internationally, I have shown leadership and tactical competence in guiding massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as discussed by Mark. My role includes managing and developing 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 solutions company.
company to make the time 100 list for the majority of influential companies in the world we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning great afternoon great night depending on where you remain in the world it's lovely to fulfill 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 remained in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or six years where I've sort of had a range of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to sort 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 sunlight is it it's not no it's it's drizzling here it's very really bleak and I wish I was elsewhere at this moment in time okay so let's start 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 companies keep separate
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially beneficial for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of keeping different savings account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most notably policies compliance data security and banking rules then there are the large numbers they include further complexity the global Labor force is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating number of different systems leading to time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or very really standard there's no real consistency structure we're residing in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations state they have Labor force information in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on global payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to precisely track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide companies have actually 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 because of time reporting poor HCM information information entry mistakes inadequately communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is delivered to the wrong place the average 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 all over the world payroll and payments don't run efficiently if they depend on the necessary multiple processes 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 service face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country 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 consumer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely vital however everywhere you look with payroll payment they are like super payments no if however some children 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 think there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing groups work better together than ever um I'm always surprised when individuals state I've 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 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being used by services across the world so once again you're simply wanting 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 but have you got any experience in kind of genuine obstacles or real tough sort of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would certainly say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's really managing the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs at the same times that we operate in they just make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and a period 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 said payroll is the single biggest liability that any service has from a cost viewpoint from an effect viewpoint on workers it is definitely critical 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 damaging impact on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been surprised entering into this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's viewed externally also. For that reason, it is essential to guarantee that tasks like Wi-Fi Global and other crucial matters are done properly. Utilizing the first Worldwide Payments very first payroll payment solution is a fantastic preliminary action towards offering an extensive payroll solution for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and checking account required for international payroll are essential consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of complaints when things don't go as prepared. Eventually, we do not do it for the appreciation.
anyhow we understand how how crucial 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 procedures and also so imagine sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and sort of shot to return to everyone so proceeding appearance why do business pick to primary different bank accounts there are services out there doing exactly this for specific nations and I've operated in a business or lots of businesses doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for any person where we do not need to and any person that's handling that procedure 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 believe lots of factors one is it's the standard I believe people have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and numerous other methods um to to type of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing but ultimately people are extremely stuck to what they recognize
with best um change is a hard thing we all don't like change um so I think it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the advantages of having maintaining numerous bank accounts however there's a huge amount of intricacy goes with setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the intricacy is big but I think the truthful answer is modification um individuals have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is understanding you know and there is a component of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does pose numerous challenges um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I just did you changed our Business 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 Global staff members you deserve a corner office with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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