Find out more about Papaya Global Company File Path ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reputable technique of paying to our 10,000 workers worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international staff members no matter the number of workers in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every nation, develop local accounts and have a minimum variety of workers.
The HR capabilities offered by Global HR encompass various functions such as keeping an eye on getaway time, guaranteeing compliance, helping with the process of inviting brand-new employees and bidding goodbye to leaving ones, using a safe online platform for saving employees' documents, and offering assistance for work allow procedures in case your staff members need support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work costs distributed per area, total work expenses per cycle and far more.
environments across the globe I supplied management and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work across business handling and structure external relationships supporting Business customers and services in addition to serving as an advisor for those of you that do not know who papaya Global is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your place. 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 market, I have concentrated on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've sort of had a range of different functions on the company side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates 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 really extremely bleak and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll likewise review a recap which should leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them ends up being more and more intricate Worldwide companies are wanting to find Solutions and new ways to enhance processes specifically from a payroll and cross-border payment viewpoint many companies maintain separate checking account just for payroll while some have several accounts in different nations does it make sense for business to keep separate bank accounts often in different nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they add more complexity the international Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 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 traditional payroll design there's typically a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely very basic there's no genuine consistency structure we're residing in a period 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 just blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a service invests in international payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the deal nearly half of international companies have revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting poor HCM information information entry mistakes poorly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is delivered to the wrong place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they rely on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're paying to employees or otherwise that's an excellent concern I constantly toss this back and state what is it what does not need to be included best 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 nation there's payment amount of time there's payment capabilities 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 customer's own in-country account so there's intricacy any place you look best eventually building a knowledge base is definitely critical however all over you look with payroll payment they are like incredibly 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm constantly impressed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market 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 anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being used by businesses throughout the world so again you're simply looking to include increasingly more payments to this currently complex landscape so if you kind 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 genuine challenges or genuine difficult type of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you know that we are operating in today there is no reason why we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single biggest liability that any organization has from an expense viewpoint from an impact viewpoint on workers it is absolutely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental result on individuals's wellness and many other aspects if individuals aren't paid uh I've always been impressed coming into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment service is a great first step um offering an end-to-end payroll option for your staff members globally again I believe is another substantial um procedure again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and decreasing the variety of tools platforms and checking account they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred thousand of 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 problems where things have not gone rather where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how essential 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 processes and also so imagine sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands possibly Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing job attempting to clean 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 require days of the week to attempt to look through them and really see what was going on and sort of try to get back to everyone so carrying on look why do business choose to main separate bank accounts there are organizations out there doing precisely this for specific nations and I've worked in a service or many services doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not developing additional work for anybody where we don't need to and anybody that's handling that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I think individuals have actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it requires changing but ultimately people are extremely stuck to what they're familiar
with best um modification is a difficult thing we all don't like change um so I think it's just kind 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 maintaining several bank accounts however there's a big quantity of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for private individuals so the intricacy is big but I believe the honest answer is modification um people have not had the ability to change or have not had always the understanding to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what might almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does position numerous obstacles um so Johnny might you inform us about those obstacles 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 jobs on one platform. It feels like our CFO has acquired another CFO, and with this enhanced ability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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