Find out more about Papaya Global Closing Off Payroll Final Submisson ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a protected and dependable technique of making payments to our 10,000 workers worldwide.}
The cutting-edge global payroll management app simplifies my payroll process, saving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
Worker Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment files. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive benefits packages to global employees despite the variety of staff members in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while eliminating the need to source local benefits providers in every nation, produce local accounts and have a minimum variety of employees.
The HR capabilities offered by Global HR include different functions such as keeping an eye on trip time, ensuring compliance, helping with the process of inviting new staff members and bidding goodbye to departing ones, offering a safe online platform for keeping employees' files, and offering assistance for work permit procedures in case your staff members need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall work costs dispersed per place, total employment costs per cycle and much more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and building external relationships supporting Enterprise customers and services as well as functioning as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be included on the distinguished Time 100 list of the most influential companies worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and obstacles of this field have constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've kind of had a variety of various roles on the company side and also on the supplier side from a payroll point of view so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of 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 fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone originates from and I actually do hope it's much sunnier than it is 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 very very gloomy and I want I was elsewhere at this moment in time all right 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 Worldwide payroll why business preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll also discuss a wrap-up and that must leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more typical and handling them becomes a growing number of complex Worldwide organizations are wanting to discover Solutions and new methods to streamline processes particularly from a payroll and cross-border payment perspective numerous companies preserve different bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain separate savings account often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation but when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they include additional intricacy the global Workforce is presently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's typically an overwhelming number of various systems leading to lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very really fundamental there's no genuine consistency framework we're living in an age of tech but 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 just blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in global payroll the less of a picture they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal almost half of international organizations have actually revealed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes poorly communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is delivered to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the necessary several procedures 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 challenges service face when they're paying to employees or otherwise that's an excellent concern I always toss this back and say what is it what doesn't need to be included ideal and what does
it require to be thought about there's differing Bank details 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 abilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the client's own in-country account so there's intricacy anywhere you look ideal eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if but 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 absolutely essential and technology is allowing us to kind of move on with that it likewise too to add to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is definitely essential that payroll and financing teams work closer together than ever um I'm constantly surprised when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to contribute to type of the level of intricacy there's increasingly more advantages being organ or being used by organizations across the world so once again you're simply looking to include a growing number of payments to this already complicated landscape so if you type 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 obstacles or genuine challenging kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any company has from an expense perspective from an impact point of view on staff members it is absolutely crucial 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 need to be done right it has the greatest harmful effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've constantly been impressed entering into this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has been told thank you for processing my payroll properly 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 eventually payroll is such an essential cycle we all become aware of it when it fails everybody jumps up and down when it fails however 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 also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment solution is an excellent primary step um supplying an end-to-end payroll option for your staff members internationally again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely key to success success of organizations and lowering the variety of tools platforms and bank accounts they need for their International 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've never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're implied to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how crucial 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions think of getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and actually see what was going on and sort of shot to get back to everyone so proceeding look why do companies choose to primary different checking account there are businesses out there doing precisely this for particular nations and I have actually worked in a business or lots of companies doing exactly that I can state it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anyone where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I think individuals have actually got so used to we need a brand-new bank account we open an entity and rightly 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 standard the people have actually adopted and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it needs altering however ultimately individuals are really stuck with what they recognize
with right um modification is a tough thing all of us don't like change um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the benefits of having preserving numerous bank accounts however there's a substantial quantity of intricacy opts for setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for individual people so the complexity is huge but I think the truthful response is change um individuals haven't been able to change or haven't had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or so there is a lot to keep an eye on and this approach does posture numerous obstacles um so Johnny might you tell us about those difficulties yeah obviously so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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