Find out more about Papaya Global And Nest Pension ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and trustworthy method of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Website
Workers have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to worldwide workers no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every nation, produce local accounts and have a minimum number of staff members.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, overall employment costs distributed per location, overall work costs per cycle and a lot more.
Internationally, I have demonstrated leadership and tactical know-how in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll strategies, as pointed out by Mark. My function involves managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We specialize in providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's a satisfaction to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I've type of had a variety of different roles on the provider side and also on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly do hope it's much sunnier than it is 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 really very uninspiring and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more common and handling them becomes increasingly more complex Worldwide companies are looking to discover Solutions and new methods to improve procedures specifically from a payroll and cross-border payment perspective numerous organizations preserve separate savings account just for payroll while some have multiple accounts in various countries does it make good sense for business to keep separate bank accounts in some cases in different countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business enhance the episode complex procedures of
making payroll payments precisely effectively securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of factors most significantly guidelines compliance data security and banking rules then there are the large numbers they include more intricacy the global Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll model there's often an overwhelming variety of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely really fundamental there's no real consistency framework we're residing in an age of tech however payroll has 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 simply blows my mind every time I I believe
about it to offer 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 sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of a photo they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide organizations have expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are due to time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and then when you round all of it off and the data is shipped to the wrong place the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they depend on the necessary several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're paying to workers or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be included 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 time frames there's payment capabilities 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 any place you look ideal eventually developing a knowledge base is absolutely important but all over you look with payroll payment they are like incredibly payments no if but some children 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 absolutely basic and technology is allowing us to sort of move on with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly amazed when individuals say 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 typically split and cut up um eventually 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 essential to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being offered by companies across the world so once again you're just looking to include more and more payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real obstacles or real tough type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a couple of years I would absolutely say that the bigger an organization 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 actually managing the payment side of things but you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to create additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact point of view on employees it is definitely crucial 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 biggest damaging result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been surprised entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such a crucial cycle we all hear about it when it fails everybody jumps up and down when it fails 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 also like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment solution is a great primary step um offering an end-to-end payroll option for your workers internationally again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide procedures all of those things are absolutely crucial to success success of organizations and decreasing the variety of tools platforms and savings account they require for their Worldwide 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're implied to be um I do not believe any of us are actually doing that for for the thanks
anyhow we know 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 processes and likewise so picture sorry I'm simply I was just gon na state picture 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 speaking about hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and sort of shot to get back to everybody so carrying on look why do companies select to primary different checking account there are organizations out there doing precisely this for specific nations and I've worked in a service or many organizations doing exactly that I can say it doesn't always feel effective and it does produce more work I understand 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 dealing with that process I 'd be interested to hear your ideas Johnny why do you believe 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 think people have actually got so utilized to we require a new bank account we open an entity and appropriately so you need 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 requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other ways um to to sort of do it so I think there's a range I think this is a process that requires taking a look at it requires changing however eventually people are extremely stuck to what they recognize
with best um modification is a challenging thing all of us do not like change um so I think it's simply type 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 numerous bank accounts but there's a big amount of complexity opts for setting up a checking account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is huge but I think the truthful answer is change um individuals have not been able to change or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might practically be figured out to be the next Century or two there is a lot to track and this technique does present a number of obstacles um so Johnny could you inform us about those difficulties yeah naturally 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 handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your accomplishments.
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