Find out more about Papaya Global Covid 19 Ssp ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly committed to managing payments. This offers us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
Employee Portal
Workers have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to worldwide staff members regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the requirement to source regional benefits service providers in every nation, create regional accounts and have a minimum variety of workers.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs distributed per area, overall employment expenses per cycle and much more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and options in addition to acting as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on offering payroll and labor force management services to staff members 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, regardless of your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everybody comes from and I actually do hope it's much sunnier than it is 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 extremely dreary and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling Global payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll also review a wrap-up and that should leave his time at the very extremely 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 International labor forces end up being increasingly more common and handling them becomes increasingly more complex Worldwide organizations are wanting to find Solutions and brand-new methods to simplify processes particularly from a payroll and cross-border payment standpoint many companies maintain separate checking account just for payroll while some have numerous accounts in various countries does it make sense for business to preserve different savings account often in different countries 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 international business improve the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly policies compliance data security and banking guidelines then there are the sheer numbers they include further intricacy the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated 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 factor in that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll design there's typically an overwhelming variety of different systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really very fundamental there's no genuine consistency framework we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce data in real time that's another number that gives me sleepless nights and rather frankly the more an organization invests in global payroll the less of an image they see a lack of presence likewise extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of global organizations 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 errors are because of time reporting bad HCM information data entry errors inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the information is delivered to the wrong place the average cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good concern I constantly toss this back and say 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 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 have to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely crucial however all over 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 kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and finance groups work more detailed together than ever um I'm always surprised when people state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to add to type of the level of intricacy there's more and more advantages being organ or being offered by companies throughout the world so again you're simply looking to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real obstacles or genuine challenging type of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a couple of decades I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information 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 always need to be the case you know long gone are the times where we need to create extra handoffs in the processes that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and a period that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and rightly as you said payroll is the single most significant liability that any business has from an expense perspective from an effect viewpoint on employees it is absolutely critical that it's done properly and on time so what we indicate 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 result on people's wellness and many other aspects if people aren't paid uh I have actually always been surprised entering this Market kind of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box workout and I believe 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 things is absolutely crucial that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment solution is a terrific first step um supplying an end-to-end payroll service for your employees worldwide once again I think is another big um procedure again lining up and guaranteeing you have standardization International procedures all of those things are definitely essential to success success of companies 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 ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant 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 and that'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 everyone that's associated with those processes and likewise so think of sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean 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 really see what was going on and kind of try to get back to everyone so moving on appearance why do companies choose to primary different checking account there are companies out there doing precisely this for specific nations and I have actually worked in a business or lots of businesses doing precisely that I can state it does not constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for any person where we don't have to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I think people have got so used to we need a new savings account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering but eventually individuals are very stuck to what they recognize
with ideal um change is a hard thing all of us don't like change um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having keeping numerous bank accounts but there's a huge amount of intricacy opts for establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for private individuals so the complexity is big but I believe the honest answer is change um individuals haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change but we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might nearly be identified to be the next Century or so there is a lot to keep track of and this method does pose a number of challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this boosted ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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