Find out more about Papaya Global Commercial ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and secure and trustworthy method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Worker Portal supplies employees with the ability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to global employees regardless of the number of workers in the business. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every nation, create regional accounts and have a minimum number of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work costs distributed per place, overall employment expenses per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across business managing and structure external relationships supporting Enterprise clients and options as well as functioning as a consultant for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in offering payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have actually focused on payroll and payment solutions for the past seven years. The complexities and obstacles of this field have actually always mesmerized me.
payroll payments and decided to kind of make a real go at that over the last five or six years where I have actually type of had a variety of various roles on the provider side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back nowadays so we'll type 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 kind of like see where everyone comes from and I actually do hope it's much sunnier than it remains 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 very extremely bleak and I want I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a strategic possession uh we'll likewise go over a wrap-up and that needs to leave his time at the extremely extremely 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 International workforces end up being increasingly more common and handling them becomes increasingly more complex International companies are seeking to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment viewpoint many companies preserve different savings account just for payroll while some have numerous accounts in different nations does it make sense for companies to preserve separate bank accounts in some cases in different nations it does however just for payroll is there a better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex processes of
Ensuring precise, efficient, and timely payroll payments is a complex difficulty for services operating internationally. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll bank accounts, learn how business anticipate payroll expenses to enhance working capital, and find how streamlining worldwide payroll payments can transform them from a burdensome task into a strategic property.
Managing payroll internationally is a daunting job due to numerous policies, compliance requirements, data security issues, and banking rules. The large variety of staff members and organizations adds to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, resulting in inconsistencies and inefficiencies. In spite of living in a period of technological improvements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, often using pen and paper. This webinar goals to offer insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service spends on worldwide payroll the less of an image they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction nearly half of international companies have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes improperly interacted hires and terminations as well as absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they depend on the needed 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 difficulties organization face when they're making payments to workers or otherwise that's a good question I always throw this back and say what is it what does not require to be consisted of best and what does
it require to be thought about there's varying 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 have to pay from the customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is definitely important however all over you look with payroll payment they resemble super payments no if but some children 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 fundamental and innovation is allowing us to kind of move forward with that it likewise too to contribute to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm always astonished when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to kind of the level of intricacy there's more and more benefits being organ or being provided by companies across the world so once again you're simply wanting to add a growing number of payments to this currently intricate landscape so if you sort 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 genuine challenges or genuine difficult type of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of years I would certainly state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups 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 opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create additional handoffs in the processes that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense point of view from an effect viewpoint on employees it is definitely important 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 damaging effect on individuals's wellness and numerous other elements if individuals aren't paid uh I've constantly been impressed entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this things is done correctly so leveraging the first Global Payments very first payroll payment option is an excellent primary step um supplying an end-to-end payroll service for your workers globally once again I think is another substantial um procedure again aligning and guaranteeing you have standardization Global processes all of those things are definitely key to success success of services and reducing the number of tools platforms and savings account they require for their Worldwide payroll too couldn't 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 anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everybody that's involved in those processes and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing 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 need days of the week to attempt to browse them and actually see what was going on and sort of shot to return to everybody so moving on look why do companies choose to main different bank accounts there are companies out there doing exactly this for specific nations and I have actually worked in a service or numerous businesses doing precisely 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 developing extra work for anybody where we do not have to and any person that's managing 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 quantity that we are I think numerous reasons one is it's the requirement I think individuals have got so used to we require a brand-new checking account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and many other methods um to to type of do it so I think there's a range I think this is a procedure that requires looking at it needs changing but ultimately people are really stuck to what they're familiar
with right um change is a difficult thing all of us do not like change um so I believe it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping multiple bank accounts but there's a substantial quantity of intricacy opts for establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the complexity is substantial but I believe the sincere response is change um people haven't had the ability to alter or have not had necessarily the understanding to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we have actually always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep an eye on and this method does posture several difficulties um so Johnny could you inform us about those challenges yeah of course so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this boosted capability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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