Find out more about Papaya Global Auto Enrolment Nest ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a protected and reliable method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive benefits plans to worldwide workers despite the number of staff members in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local advantages service providers in every country, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total employment expenses dispersed per place, total employment expenses per cycle and far more.
Internationally, I have shown leadership and strategic know-how in guiding large-scale populations of over 100,000 workers across 170 nations. Currently, I are accountable for managing payroll methods, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Enterprise clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
business to make the time 100 list for a lot of influential business worldwide we provide payroll payments and workforce management to all employee enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning great afternoon great evening depending on where you are in the world it's charming to meet you and thank you quite 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 market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a variety of various functions on the company side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply give everybody another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everyone originates from and I really 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 very very gloomy and I want I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical asset uh we'll also go over a recap and that needs to leave his time at the really very 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 labor forces become more and more common and managing them becomes more and more complicated International organizations are wanting to find Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment standpoint many organizations preserve separate bank account just for payroll while some have multiple accounts in various nations does it make sense for business to preserve separate savings account often in different countries it does but just for payroll is there a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business enhance the episode complex processes of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes intricate for a range of factors most significantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include more complexity the global Workforce is presently three 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 businesses and growing all doing their own thing worldwide in the conventional payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or extremely very basic there's no real consistency framework we're residing in a period 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 often with pen and paper which simply blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in international payroll the less of a picture they see an absence of presence likewise reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of global services have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors improperly interacted hires and terminations in addition to lack management and system configurations and then when you round all of it off and the data is delivered to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash all over the world payroll and payments don't run efficiently if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to employees or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is definitely important but everywhere you look with payroll payment they resemble super payments no if but some babies 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely crucial that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from calculation 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 anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of crucial to add to sort of the level of intricacy there's a growing number of advantages being organ or being offered by organizations throughout the world so once again you're just seeking to add increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real difficulties or genuine tough type of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a number of decades I would certainly say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact 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 understand long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any service has from an expense point of view from an effect perspective on employees it is absolutely vital 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 most significant damaging result on people's wellness and numerous other aspects if individuals aren't paid uh I've always been impressed entering into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this kind of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent 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 everyone jumps up and down when it fails but when it goes right it's simply 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 stuff is definitely vital that all of this things is done correctly so leveraging the first Global Payments first payroll payment service is a terrific primary step um offering an end-to-end payroll service for your employees globally once again I think is another big um process once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of organizations and reducing the number of tools platforms and checking account they require for their Global 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 thousand of 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 have not gone quite where they're meant to be um I do not think any of us are actually doing that for for the thanks
anyhow we understand 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm just I was just gon na say picture the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of try to get back to everyone so proceeding look why do companies pick to main separate checking account there are companies out there doing precisely this for particular nations and I've operated in an organization or lots of businesses doing exactly that I can say it does not constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for any person where we don't need to and anybody 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 many factors one is it's the requirement I believe people have actually got so used to we require a new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people 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 lots of other ways um to to sort of do it so I think there's a variety I believe this is a procedure that needs taking a look at it needs changing but eventually people are very stuck to what they're familiar
with right um change is a hard thing we all do not like change um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having preserving several savings account but there's a big quantity of complexity opts for establishing a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is big but I think the truthful response is modification um individuals have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be determined to be the next Century approximately there is a lot to track and this method does posture a number of obstacles um so Johnny might you inform us about those difficulties yeah of course 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 seems like our CFO has actually gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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