Find out more about Papaya Global Hr Series Scale Venture ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a secure and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
Employee Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to international workers no matter the number of workers in the business. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every nation, develop local accounts and have a minimum number of employees.
The HR capabilities supplied by International HR incorporate numerous functions such as keeping track of getaway time, guaranteeing compliance, helping with the process of welcoming brand-new employees and bidding farewell to departing ones, providing a safe and secure online platform for storing employees' files, and providing support for work permit treatments in case your employees need support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force diversity, total employment expenses distributed per location, overall employment costs per cycle and far more.
environments around the world I supplied management and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work across business managing and structure external relationships supporting Business customers and solutions as well as functioning as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to workers 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 an enjoyment to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past seven years. The intricacies 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 five or 6 years where I've kind of had a range of various functions on the company side and likewise on the vendor side from a payroll point of view so actually anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I truly 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 raining here it's really really dreary and I wish I was elsewhere at this moment in time alright so let's begin 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 maintain separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll also go over a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more common and handling them becomes a growing number of complex International companies are wanting to discover Solutions and new ways to simplify processes specifically from a payroll and cross-border payment standpoint lots of companies preserve different savings account just for payroll while some have several accounts in various countries does it make good sense for business to preserve different bank accounts often in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business streamline the episode complex processes of
making payroll payments precisely efficiently safely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include additional intricacy the global Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's frequently an overwhelming number of various systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or extremely very fundamental there's no real consistency structure we're living in an era of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind each time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and quite frankly the more a company invests in global payroll the less of an image they see a lack of visibility also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of global businesses have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the data is shipped to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they rely on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're paying 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 ideal 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 client's own in-country account so there's complexity wherever you look right eventually constructing a knowledge base is definitely crucial 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 take a look at the type 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 basic and innovation is permitting us to type of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is absolutely vital that payroll and finance groups work closer together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they divide the payroll payment from computation 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 but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of crucial to add to kind of the level of complexity there's increasingly more advantages being organ or being provided by services throughout the world so once again you're just aiming to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real difficulties or genuine challenging kind of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely state that the larger a company 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 groups feeding info into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an age of tech and an age that you know that we are working in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from an expense viewpoint from an impact point of view on staff members it is absolutely crucial 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 biggest detrimental effect on individuals's well-being and lots of other factors if people aren't paid uh I've always been impressed coming into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but ultimately payroll is such an important cycle all of us find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I think 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 things is absolutely vital that all of this stuff is done properly so leveraging the first International Payments very first payroll payment option is a terrific initial step um supplying an end-to-end payroll solution for your employees worldwide again I think is another substantial um process again aligning and ensuring 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 International 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 have actually never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyhow we know how how essential 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 simple as possible for everybody that's associated with those processes and also so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job attempting to clean all those up for sure oh definitely 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 attempt to look through them and in fact see what was going on and kind of shot to get back to everybody so carrying on appearance why do companies select to main different bank accounts there are services out there doing precisely this for specific nations and I have actually operated in a company or many companies doing precisely that I can state it doesn't constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating extra work for anyone where we do not need to and anyone that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe people have got so utilized to we require a new savings account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to kind of do it so I believe there's a variety I think this is a procedure that needs looking at it requires altering but ultimately people are very stuck with what they recognize
with ideal um change is a tough thing we all don't like change um so I believe it's just sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having keeping multiple checking account however there's a big quantity of intricacy goes with establishing a bank account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for private people so the complexity is big but I believe the truthful response is change um people haven't been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I believe you've hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could almost be determined to be the next Century or two there is a lot to monitor and this method does pose numerous difficulties um so Johnny might you inform us about those difficulties yeah obviously so there's a range 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 jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
Papaya Global Bhutan