Find out more about Papaya Global And Papaya Globalwont Open On My Computer Together ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a secure and dependable approach of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Employee Portal provides workers with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Advantages Administration
Papaya Global helps companies use competitive benefits plans to worldwide workers no matter the number of workers in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every country, create regional accounts and have a minimum number of workers.
Worldwide HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total work costs dispersed per location, total employment expenses per cycle and far more.
Internationally, I have actually demonstrated management and tactical knowledge in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function includes handling and establishing external collaborations, supporting Enterprise customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide business, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your location. It's a satisfaction to satisfy you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. 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 complexities and challenges of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the supplier side and also on the supplier side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds or two to join we all 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 simply to hear where everyone is um it's nice to to type of like see where everybody comes 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 drizzling here it's very really bleak and I want I was elsewhere at this moment in time all right so let's start our program for today is as follows um we are going to be looking at the difficulty years of managing International payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap and that ought to leave his time at the really 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 a growing number of typical and handling them ends up being increasingly more complicated Worldwide organizations are wanting to find Solutions and new methods to streamline procedures particularly from a payroll and cross-border payment standpoint many organizations preserve separate bank account just for payroll while some have numerous accounts in various nations does it make sense for companies to preserve separate savings account often in various countries it does however just for payroll is there a better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies improve the episode complex procedures of
making payroll payments precisely effectively firmly and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how companies properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most significantly regulations compliance data security and banking rules then there are the large numbers they include more intricacy the worldwide Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals 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 worldwide in the conventional payroll design there's often a frustrating variety of different systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or extremely very standard there's no real consistency structure we're residing in an age of tech however 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 simply 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 only 11 of organizations state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization spends on global payroll the less of an image they see an absence of exposure likewise reaches payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide businesses 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 errors are because of time reporting poor HCM information information entry mistakes inadequately interacted hires and terminations in addition to lack management and system setups and then when you round everything off and the information is delivered to the incorrect place the average cost of a worldwide 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 globe payroll and payments don't run smoothly if they depend on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's a great question I always toss this back and state what is it what doesn't require to be included ideal 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 amount of time 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 customer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is absolutely important but all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort 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 allowing us to kind of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing groups work better together than ever um I'm constantly astonished when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 wherever 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 essential to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by organizations throughout the world so again you're simply seeking to add more and more payments to this already complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real difficulties or genuine difficult sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments operates 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 handling the payment side of things but 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 need to create additional handoffs while doing sos 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 an era of tech and an age that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any business has from a cost point of view from an impact point of view on employees it is definitely important 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 detrimental effect on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually always been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has actually been informed 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 staff members or not um but ultimately payroll is such an important cycle all of us become aware of it when it fails everybody jumps up and down when it fails but 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 likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is an excellent initial step um providing an end-to-end payroll option for your workers worldwide again I believe is another big um procedure once again lining up and ensuring you have standardization Global procedures all of those things are definitely essential to success success of services and lowering the variety of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never 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 complaints where things haven't gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how essential 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 involved in those processes and likewise so imagine sorry I'm just I was just gon na say think of the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely 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 actually see what was going on and sort of shot to get back to everybody so proceeding look why do companies select to primary different savings account there are organizations out there doing exactly this for particular nations and I've worked in a service or numerous businesses doing precisely that I can state it does not always feel efficient and it does create more work I know we're not purposely doing that we're not producing extra work for anyone where we don't 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 think numerous factors one is it's the standard I think individuals have actually got so used to we require a new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to add to that people have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I believe this is a process that requires looking at it needs changing however ultimately individuals are very stuck to what they're familiar
with ideal um modification is a hard thing we all don't like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the benefits of having preserving multiple bank accounts but there's a big amount of complexity opts for setting up a checking account preserving it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is huge however I believe the sincere response is modification um people haven't had the ability to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we have actually constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be determined to be the next Century approximately there is a lot to monitor and this technique does position a number of challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a variety right there is so
I just did you switched our Business 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 Worldwide workers you should have a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Aeo