Find out more about Papaya Global Course Belfast ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Worker Portal
Workers have access to a Worker Portal where they can see their pay slips, wage and tax declarations and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits plans to global workers no matter the variety of staff members in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while eliminating the requirement to source local advantages providers in every nation, produce local accounts and have a minimum number of employees.
The HR capabilities provided by Global HR encompass different functions such as keeping track of trip time, ensuring compliance, helping with the procedure of welcoming brand-new staff members and bidding farewell to leaving ones, providing a protected online platform for saving employees' documents, and providing support for work allow treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall employment expenses dispersed per place, total employment expenses per cycle and much more.
Worldwide, I have demonstrated leadership and strategic competence in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll strategies, as mentioned by Mark. My function involves handling and developing external collaborations, supporting Business clients, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options supplier.
company to make the time 100 list for many prominent business on the planet we offer payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good night depending upon where you remain in the world it's charming to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I've type of had a range of various roles on the provider side and also on the supplier side from a payroll viewpoint so actually looking forward to this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply provide everybody another number of uh well one of 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 fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I really 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 drizzling here it's very extremely gloomy and I wish I was somewhere else at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic asset uh we'll also go over a wrap-up which ought to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become more and more typical and managing them ends up being more and more intricate Global organizations are wanting to find Solutions and new ways to enhance procedures particularly from a payroll and cross-border payment viewpoint numerous organizations maintain separate checking account just for payroll while some have multiple accounts in different nations does it make good sense for companies to keep different bank accounts in some cases in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping international companies streamline the episode complex processes of
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complex for a range of factors most importantly regulations compliance data security and banking guidelines then there are the large numbers they add further 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 further 1.1 billion individuals that number is presently 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 typically a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or extremely very standard there's no real consistency framework we're residing in an era of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of a photo they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of international businesses have 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 information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the incorrect place the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments don't run efficiently if they depend on the required several processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges business face when they're paying to staff members or otherwise that's a good question I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the client's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is absolutely important but everywhere you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link 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 permitting us to sort of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from calculation 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 information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The modern-day world places a high worth on well-being and the compensation landscape is ending up being increasingly elaborate. Companies are constantly introducing new advantages and payment choices, which contributes to the overall complexity. Large corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technically sophisticated period, there's no validation for keeping cumbersome procedures. Payroll, the company's biggest expenditure, need to be processed correctly and on time. Even small hold-ups can adversely impact employees' wellness and have significant effects. For that reason, it's crucial to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anyone on this type of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply 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 stuff is absolutely vital that all of this things is done properly so leveraging the very first International Payments first payroll payment option is a fantastic initial step um providing an end-to-end payroll option for your workers worldwide again I think is another substantial um procedure again lining up and ensuring you have standardization Global procedures all of those things are absolutely key to success success of businesses and reducing the variety of tools platforms and savings account they need for their Global 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 ever had a hundred countless them within a payroll cycle don't 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 quite where they're implied to be um I don't think any of us are actually 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 easy as possible for everybody that's associated with those procedures and also so think of sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and kind of try to get back to everybody so carrying on look why do business select to main separate checking account there are businesses out there doing precisely this for particular nations and I've worked in an organization or many organizations doing precisely that I can say it doesn't constantly feel efficient and it does develop 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 believe many factors one is it's the standard I believe individuals have got so utilized to we require a new savings account we open an entity and appropriately so you need 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 norm the people have adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a range I believe this is a process that requires looking at it requires changing however ultimately individuals are very stuck to what they recognize
with right um modification is a hard thing all of us don't like change um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend clearly the advantages of having keeping multiple savings account however there's a huge quantity of complexity opts for setting up a bank account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for specific individuals so the intricacy is huge but I believe the honest response is modification um individuals haven't had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've always 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 know what could almost be identified to be the next Century or so there is a lot to track and this technique does present a number of obstacles um so Johnny could you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your accomplishments.
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