Find out more about Papaya Global Glassdoor ... We now have the capability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a safe and reputable technique of paying to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Worker Website supplies employees with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Benefits Administration
Papaya Global helps companies offer competitive benefits plans to worldwide employees no matter the variety of employees in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local advantages service providers in every nation, develop regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses distributed per place, total work expenses per cycle and far more.
Worldwide, I have actually demonstrated leadership and strategic competence in assisting massive populations of over 100,000 workers across 170 countries. Presently, I are accountable for supervising payroll techniques, as pointed out by Mark. My role includes handling and establishing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global company, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment options for the past 7 years. The intricacies and challenges of this field have actually 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 have actually sort of had a range of various functions on the service provider side and also on the supplier side from a payroll perspective so truly looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everybody originates from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely very gloomy and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise review a wrap-up which must leave his time at the very 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 Worldwide workforces end up being a growing number of typical and managing them ends up being increasingly more intricate Worldwide companies are seeking to find Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment viewpoint numerous organizations keep separate bank account just for payroll while some have numerous accounts in various nations does it make good sense for companies to maintain separate bank accounts in some cases in various nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business simplify the episode complex procedures of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of factors most importantly regulations compliance data security and banking rules then there are the large numbers they include additional complexity the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll model there's often an overwhelming number of different systems leading to time-consuming manual processes and silos the number of Combinations could be non-existent in big amounts and or really really standard there's no real consistency structure we're residing in an age of tech however payroll has actually been sluggish 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 provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce data in real time that's another number that gives me sleep deprived nights and rather honestly the more an organization invests in international payroll the less of a photo they see an absence of visibility also extends to payroll payments and inability to accurately track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors inadequately communicated hires and terminations in addition to lack management and system setups and after that when you round everything off and the data is shipped to the wrong location the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run efficiently if they depend on the essential several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good concern I always toss this back and state what is it what doesn't require to be consisted of right and what does
it require to be thought about there's differing Bank details 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 have 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 best ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe 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 also also to contribute to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup processes is definitely vital 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 stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market 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 data collection all the way through to paying people wherever they are however also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more crucial to add to kind of the level of complexity there's a growing number of benefits being organ or being used by companies across the world so again you're just looking to add more and more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real challenging type of pay uses to play to pay individuals I believe yeah I imply over the last well yeah a number 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 information into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to produce additional handoffs at the same times that we run in they simply make them more timely they make them less effective and they don't make them what they require to be in in an age of tech and an age that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you stated payroll is the single greatest liability that any company has from an expense point of view from an impact point of view on staff members it is absolutely crucial that it's done correctly and on time so what we mean 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 destructive impact on individuals's wellness and lots of other elements if people aren't paid uh I've constantly been impressed entering this Market sort of the last five to 10 years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's seen as just a routine task. This is how it's viewed externally also. Therefore, it is important to guarantee that tasks like Wi-Fi International and other vital matters are done properly. Using the first International Payments very first payroll payment solution is a great preliminary step towards supplying an extensive payroll solution for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and savings account necessary for worldwide payroll are key factors in accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a few problems when things don't go as prepared. Ultimately, we do not do it for the appreciation.
anyhow we understand how how crucial a function 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 everyone that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and type of shot to get back to everybody so proceeding appearance why do business select to primary separate bank accounts there are services out there doing exactly this for particular countries and I have actually operated in a service or many services doing exactly that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not producing additional work for any person where we don't have to and any person that's dealing with 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 believe lots of factors one is it's the requirement I believe individuals have got so utilized to we need a new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a procedure that needs looking at it requires changing but ultimately people are extremely stuck to what they're familiar
with right um modification is a challenging thing all of us don't like change um so I think it's just kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having keeping several bank accounts however there's a substantial amount of intricacy chooses establishing a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for private people so the complexity is big but I think the sincere response is modification um individuals have not been able to change or have not had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century or two there is a lot to keep track of and this method does position numerous difficulties um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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