Find out more about Papaya Global Average Number Of Employees ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a secure and reputable technique of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to global workers despite the number of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files 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 labor force spending, workforce variety, total employment expenses distributed per location, overall work expenses per cycle and much more.
Worldwide, I have demonstrated management and strategic know-how in directing massive populations of over 100,000 staff members across 170 countries. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes handling and developing external partnerships, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most influential companies worldwide. We focus on offering payroll and labor force management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the company side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so 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 already just to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually 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 really bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a tactical property uh we'll also review a wrap-up which must leave his time at the extremely 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 International workforces end up being increasingly more common and handling them ends up being more and more complex Worldwide companies are aiming to find Solutions and new ways to simplify processes particularly from a payroll and cross-border payment standpoint lots of organizations preserve separate bank account just for payroll while some have multiple accounts in various nations does it make sense for companies to keep separate bank accounts sometimes in various countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business enhance the episode complex procedures of
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the international 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 enhancing Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance data security and banking rules then there are the large numbers they add further complexity the international Workforce is currently three 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 presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or extremely very standard there's no genuine consistency structure we're living in an era of tech but payroll has 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 just blows my mind whenever I I believe
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a business invests in international payroll the less of a photo they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global organizations have actually revealed 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 due to time reporting bad HCM information information entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the data is shipped to the incorrect location 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 worldwide payroll and payments don't run efficiently if they rely on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's an excellent question I always throw this back and say what is it what doesn't require to be included right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country 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 need to pay from the client's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to kind of move forward with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work closer together than ever um I'm constantly astonished when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anyone 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 often 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 people anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to contribute to type of the level of complexity there's a growing number of advantages being organ or being used by companies across the world so again you're just aiming to include increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of real challenges or genuine tough kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age 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 challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from an expense perspective from an impact viewpoint on workers it is definitely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest detrimental effect on people's well-being and lots of other aspects if people aren't paid uh I have actually always been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only notice when things go wrong. However, when things go right, it's seen as simply a regular job. This is how it's perceived externally too. For that reason, it is essential to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Using the very first International Payments first payroll payment solution is a great initial step towards supplying an extensive payroll solution for workers worldwide. Standardization, worldwide processes, and decreasing 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 problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how essential 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 involved in those processes and likewise so think of sorry I'm just I was just gon na say picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that many thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and type of try to return to everyone so moving on look why do companies pick to main separate checking account there are companies out there doing precisely this for particular countries and I've operated in a business or numerous businesses doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anybody where we don't need to and anyone that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think numerous reasons one is it's the requirement I believe people have got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people 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 numerous other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires altering however eventually individuals are really stuck to what they're familiar
with ideal um modification is a hard thing we all do not like modification um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having maintaining several savings account but there's a substantial quantity of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual people so the intricacy is huge but I think the truthful answer is modification um people have not been able to change or haven't had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this technique does present several difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just did you changed 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 International staff members you deserve a corner office with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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