Find out more about Papaya Global Bureau Makes Papaya Global Crash ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and dependable technique of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive advantages packages to international workers no matter the number of employees in the business. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages companies in every nation, create local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, workforce diversity, total work costs dispersed per area, overall employment expenses per cycle and much more.
Worldwide, I have actually demonstrated management and strategic proficiency in assisting large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll techniques, as discussed by Mark. My function involves handling and developing external partnerships, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so really anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather interesting 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 everyone originates from and I really do hope it's much sunnier than it remains 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 really very gloomy and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise go over a wrap-up and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them ends up being a growing number of complicated Global organizations are seeking to discover Solutions and brand-new ways to streamline processes especially from a payroll and cross-border payment standpoint many organizations preserve separate checking account just for payroll while some have several accounts in various countries does it make good sense for business to maintain different savings account sometimes in different nations it does but just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies improve the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll savings account, learn how business forecast payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can transform them from a troublesome job into a tactical property.
Managing payroll internationally is an overwhelming task due to various guidelines, compliance requirements, data security issues, and banking rules. The sheer variety of employees and companies adds to the intricacy, with an estimated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often result in manual procedures, information silos, and a lack of integration, causing inconsistencies and inadequacies. In spite of residing in a period of technological advancements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and services to simplify and enhance global payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of international organizations have expressed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes poorly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments don't run smoothly if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties company face when they're making payments to workers or otherwise that's a good concern I always toss this back and state what is it what doesn't need to be included ideal and what does
it need 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 timespan there's payment capabilities 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 client's own in-country account so there's complexity anywhere you look ideal ultimately developing a knowledge base is absolutely important however all over you look with payroll payment they are like very 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 absolutely essential and innovation is allowing us to kind of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely imperative that payroll and finance teams work better together than ever um I'm always surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 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 3rd parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of intricacy there's a growing number of benefits being organ or being offered by companies throughout the world so once again you're just aiming to include more and 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 however have you got any experience in kind of real difficulties or real tough kind of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of years I would definitely say that the bigger 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 teams feeding details into the next function as it were that's really managing the payment side of things but you know 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 require to produce additional handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason why we are still making this as challenging as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an effect viewpoint on employees it is definitely 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 need to be done right it has the biggest destructive impact on people's well-being and lots of other factors if individuals aren't paid uh I've always been amazed coming into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is a great initial step um offering an end-to-end payroll option for your workers worldwide again I believe is another big um process again aligning and ensuring you have standardization Worldwide processes all of those things are definitely crucial to success success of services and minimizing the number of tools platforms and bank accounts they require 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyhow we know how how important 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 everyone that's involved in those procedures and also so imagine sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task 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 require days of the week to attempt to check out them and actually see what was going on and kind of shot to return to everyone so carrying on look why do business choose to primary separate bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a business or lots of businesses doing precisely that I can state it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not 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 think numerous factors one is it's the standard I believe people have actually got so utilized to we require a new checking account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I believe this is a procedure that needs taking a look at it requires altering but eventually individuals are extremely stuck with what they're familiar
with best um modification is a challenging thing we all do not like modification um so I believe it's just kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having preserving several savings account but there's a huge quantity of complexity goes with establishing a bank account preserving it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is huge however I believe the truthful answer is change um people haven't had the ability to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to keep an eye on and this technique does position several obstacles um so Johnny could you inform us about those difficulties yeah obviously so there's a variety right there is so
I just did you changed 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 International staff members you are worthy of a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo