Find out more about Papaya Global Bureau Manager Update ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Staff member Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to global staff members despite the variety of staff members in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional benefits suppliers in every nation, develop local accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment expenses dispersed per location, overall employment costs per cycle and a lot more.
Globally, I have demonstrated management and strategic knowledge in directing massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for overseeing payroll methods, as pointed out by Mark. My role involves handling and establishing external partnerships, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to staff members 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 place. It's a satisfaction to fulfill you and thank you for your valuable 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 focused on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of different roles on the service provider side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely really bleak and I wish I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll also discuss a recap and that needs to leave his time at the extremely really 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 Worldwide workforces end up being a growing number of typical and handling them becomes more and more intricate International companies are seeking to find Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment perspective many organizations preserve separate savings account just for payroll while some have several accounts in various nations does it make sense for companies to maintain different bank accounts often in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how business properly anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance data security and banking guidelines then there are the large numbers they add further complexity the global Workforce is currently 3 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 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 worldwide in the standard payroll model there's often a frustrating variety of various systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in big quantities and or very extremely basic there's no real consistency framework we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
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 data in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in international payroll the less of a photo they see a lack of visibility likewise extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the transaction nearly half of international businesses have revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors improperly communicated hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the wrong place the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money all over the world payroll and payments do not run smoothly if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the obstacles service face when they're making payments to employees or otherwise that's an excellent concern I constantly toss this back and say what is it what does not require to be consisted of 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 nation there's payment amount of time 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 consumer's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type 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 basic and innovation is allowing us to sort of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work better together than ever um I'm always surprised 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 operate 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 any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to add to sort of the level of intricacy there's a growing number of benefits being organ or being provided by organizations across the world so once again you're simply looking to add more and more payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real obstacles or real challenging sort of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a couple of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are working in today there is no reason we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from an expense viewpoint from an effect viewpoint on staff members it is absolutely vital that it's done properly 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 damaging result on people's wellness and lots of other elements if people aren't paid uh I've constantly been surprised entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just see when things fail. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. For that reason, it is important to ensure that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment service is an excellent initial action towards providing an extensive payroll service for staff members worldwide. Standardization, global procedures, and decreasing the number of tools, platforms, and savings account needed for international payroll are essential consider attaining service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few problems when things don't go as planned. Eventually, we do not do it for the appreciation.
anyway we know how how essential a function 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 everybody that's involved in those procedures and likewise so picture sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely 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 attempt to look through them and actually see what was going on and sort of try to get back to everybody so proceeding appearance why do business choose to main separate bank accounts there are organizations out there doing exactly this for particular countries and I have actually operated in an organization or numerous services doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not producing additional work for anyone where we don't need to and anyone that's dealing with 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 amount that we are I believe numerous factors one is it's the requirement I think individuals have actually got so used to we require a new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to contribute to that individuals have taken a look 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 think this is a procedure that requires taking a look at it requires changing however eventually individuals are very stuck to what they're familiar
with right um change is a difficult thing all of us do not like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand obviously the benefits of having keeping multiple bank accounts however there's a huge quantity of complexity opts for establishing a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is substantial but I think the truthful answer is modification um individuals have not had the ability to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century or two there is a lot to monitor and this technique does present a number of obstacles um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.
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