Find out more about Papaya Global Bacs File ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a secure and trusted technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Website
Workers have access to a Staff member Website where they can see 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 companies provide competitive benefits plans to global workers no matter the variety of workers in the business. The company can set up medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, create regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work costs distributed per location, total employment costs per cycle and much more.
Internationally, I have demonstrated leadership and tactical proficiency in directing massive populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll techniques, as pointed out by Mark. My role involves handling and establishing external collaborations, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a global company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We focus on supplying payroll and labor force management services to staff members 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, no matter your area. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've kind of had a range of various roles on the provider side and also on the supplier side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join all of us work back to back nowadays 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 everybody is um it's nice to to kind of like see where everybody comes 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 raining here it's extremely really uninspiring and I wish I was elsewhere 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
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a recap and that should leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become a growing number of common and managing them ends up being increasingly more intricate Worldwide organizations are looking to find Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment perspective numerous organizations maintain different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep separate savings account in some cases in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business enhance the episode complex processes of
making payroll payments properly effectively 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 precisely anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most significantly policies compliance information security and banking guidelines then there are the large numbers they add additional complexity the international Labor force is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll design there's often a frustrating number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or very extremely basic there's no genuine consistency framework we're residing 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 typically with pen and paper which simply blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see a lack of exposure also encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal nearly half of worldwide companies have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes improperly interacted hires and terminations in addition to lack 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 an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments don't run efficiently if they rely on the necessary several procedures 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 difficulties organization face when they're paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be consisted of best and what does
it need to be thought about 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like extremely 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 think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is permitting us to kind of progress with that it also also to add to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm constantly 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 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 people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more important to add to kind of the level of intricacy there's increasingly more advantages being organ or being provided by businesses throughout the world so again you're simply wanting to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or genuine difficult type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of years I would certainly state that the bigger a service 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 teams feeding details into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason we are still making this as difficult as it needs to be agreed and rightly as you said payroll is the single biggest liability that any organization has from a cost point of view from an effect point of view on workers it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the biggest destructive result on people's wellness and many other factors if people aren't paid uh I've constantly been surprised entering this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think 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 definitely crucial that all of this things is done properly so leveraging the first International Payments very first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your employees globally again I think is another big um procedure once again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely essential to success success of businesses and minimizing the variety of tools platforms and savings account they require for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how crucial a role 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 everybody that's involved in those procedures and also so envision sorry I'm just I was just gon na say imagine 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 discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and type of try to return to everyone so proceeding look why do companies select to primary separate bank accounts there are companies out there doing exactly this for specific nations and I have actually operated in a business or numerous companies doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not purposely doing that we're not producing extra work for anyone where we do not need to and anybody that's handling 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 amount that we are I believe numerous reasons one is it's the standard I believe individuals have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll functions however 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 embraced 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 variety I believe this is a process that requires looking at it needs changing but ultimately people are very stuck to what they're familiar
with ideal um modification is a hard thing all of us do not like modification um so I think it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having preserving multiple bank accounts however there's a huge quantity of intricacy chooses setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the complexity is substantial but I believe the sincere answer is modification um people have not been able to alter or haven't had always the knowledge to actually make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be identified to be the next Century or two there is a lot to keep track of and this approach does present a number of challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety 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 gained another CFO, and with this boosted capability, I have successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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