Find out more about Papaya Global Brazil ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app simplifies my payroll process, conserving me a substantial amount of time each month. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Worker Portal supplies workers with the capability to access and view crucial documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to international workers regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, create regional accounts and have a minimum number of employees.
The HR abilities offered by Worldwide HR include different functions such as keeping track of getaway time, guaranteeing compliance, helping with the process of welcoming new staff members and bidding goodbye to leaving ones, providing a secure online platform for keeping employees' documents, and providing assistance for work permit procedures in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses distributed per place, total employment expenses per cycle and far more.
Worldwide, I have actually demonstrated management and strategic competence in directing massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll strategies, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Business clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of different functions on the supplier side and also on the vendor side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to sort 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 sunshine is it it's not no it's it's drizzling here it's very really uninspiring and I wish I was somewhere else 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 business maintain different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which ought to leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being increasingly more common and handling them ends up being increasingly more intricate Worldwide organizations are aiming to find Solutions and brand-new ways to improve processes especially from a payroll and cross-border payment viewpoint many organizations keep different bank account just for payroll while some have several accounts in different nations does it make good sense for companies to keep separate bank accounts in some cases in various nations it does but just for payroll exists a much better way what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies simplify the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex difficulty for companies running worldwide. Join us for a webinar to explore the benefits and disadvantages of payroll wallets versus payroll bank accounts, discover how companies anticipate payroll expenses to enhance working capital, and find how simplifying worldwide payroll payments can change them from a challenging task into a tactical property.
Managing payroll internationally is a difficult task due to numerous guidelines, compliance requirements, data security concerns, and banking guidelines. The sheer variety of workers and businesses adds to the complexity, with an approximated 3.5 billion people in the global workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently result in manual processes, information silos, and an absence of integration, resulting in inconsistencies and inefficiencies. Regardless of living in a period of technological improvements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, frequently utilizing pen and paper. This webinar aims to provide insights and solutions to streamline and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in worldwide payroll the less of a photo they see a lack of visibility also encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction almost half of worldwide services have expressed that they don't have the level of standardization they require in their procedures or desire 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 absence management and system setups and after that when you round everything off and the data is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the world payroll and payments don't run efficiently if they rely on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a good concern I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity anywhere you look ideal eventually developing a knowledge base is definitely important however everywhere you look with payroll payment they resemble super payments no if however some infants 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 recognition that payroll payments are definitely essential and innovation is permitting us to sort of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance teams work more detailed together than ever um I'm constantly amazed when people 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 profession 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to contribute to sort of the level of intricacy there's more and more advantages being organ or being offered by businesses across the world so again you're just aiming to add increasingly more payments to this currently intricate landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine difficulties or real tough type of pay utilizes to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would certainly state that the bigger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to develop additional handoffs while doing sos that we operate in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an age of tech and an age that you know that we are working in today there is no reason that we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any service has from a cost viewpoint from an effect point of view on employees it is absolutely critical that it's done correctly and on time so what we indicate 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 harmful result on individuals's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market sort of the last five to ten years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just notice when things go wrong. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. Therefore, it is important to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first Worldwide Payments first payroll payment service is a terrific preliminary step towards offering a comprehensive payroll solution for workers worldwide. Standardization, global procedures, and lowering the number of tools, platforms, and savings account required for worldwide payroll are essential factors in attaining service success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Eventually, we don't do it for the thankfulness.
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 everyone that's associated with those procedures and likewise so imagine sorry I'm just I was simply gon na state picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions think of getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up all those up for sure oh definitely 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 type of try to get back to everybody so proceeding look why do companies select to main different bank accounts there are businesses out there doing precisely this for specific countries and I've worked in an organization or many businesses doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not purposely doing that we're not developing extra work for any person where we don't need to and anyone that's handling 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 lots of factors one is it's the standard I think people have got so utilized to we require a new bank account we open an entity and appropriately so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a process that requires looking at it requires altering however ultimately people are very stuck with what they recognize
with ideal um modification is a difficult thing we all do not like modification um so I believe it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining numerous bank accounts however there's a huge amount of intricacy chooses setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is huge however I believe the sincere response is change um individuals haven't been able to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be identified to be the next Century or two there is a lot to keep track of and this method does pose numerous obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
Papaya Global Bhutan