Find out more about Papaya Global Investors ... 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 obtained a different Chief Financial Officer particularly devoted to handling payments. This offers us with a secure and reputable approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Website offers staff members with the ability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to international workers no matter the number of workers in the business. The company can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the need to source local benefits companies in every country, develop local accounts and have a minimum variety of workers.
The HR capabilities supplied by Global HR include different functions such as monitoring holiday time, making sure compliance, assisting in the process of inviting new workers and bidding goodbye to leaving ones, providing a protected online platform for keeping workers' files, and offering assistance for work permit treatments in case your workers require support because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall work expenses dispersed per location, total work expenses per cycle and far more.
Worldwide, I have actually shown leadership and tactical know-how in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My function includes handling and establishing external collaborations, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
company to make the time 100 list for the majority of prominent companies on the planet we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon excellent night depending upon where you remain in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over ten years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of various roles on the service provider side and also on the supplier side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone 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 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 really extremely uninspiring and I wish I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical possession uh we'll also discuss a wrap-up and that needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and handling them becomes more and more complicated Worldwide companies are looking to discover Solutions and new methods to improve procedures specifically from a payroll and cross-border payment viewpoint many companies keep separate checking account just for payroll while some have numerous accounts in different countries does it make good sense for companies to keep separate bank accounts often in various nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex procedures of
making payroll payments properly effectively securely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how business precisely forecast their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a range of reasons most significantly policies compliance information security and banking guidelines then there are the sheer numbers they add further intricacy the international Labor force is currently three and a half billion people by 2030 it's estimated 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 consider that there are some 230 million services and growing all doing their own thing around the globe in the conventional payroll design there's frequently a frustrating number of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in large amounts and or very extremely standard there's no genuine consistency framework we're living in an era of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that simply blows my mind whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force data in real time that's another number that offers me sleepless nights and quite frankly the more a company invests in global payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of international businesses have actually expressed that they don't 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 errors inadequately interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the information is delivered to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run efficiently if they rely on the required multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're paying to employees or otherwise that's an excellent question I constantly throw this back and state what is it what doesn't require to be included ideal and what does
it need to be thought of there's varying Bank information 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look best eventually constructing a knowledge base is definitely important however all over you look with payroll payment they resemble extremely payments no if but some infants 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 acknowledgment that payroll payments are definitely fundamental and technology is allowing us to type of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Checking account Particulars varying banking requirements and setup procedures is absolutely important that payroll and financing teams work closer together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so often split and cut up um ultimately it's payroll is an end-to-end process 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 reside in and well-being being increasingly more important to add to sort of the level of intricacy there's more and more benefits being organ or being used by companies throughout the world so once again you're simply seeking to add increasingly more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of genuine obstacles or genuine challenging kind of pay uses to play to pay people I think yeah I suggest over the last well yeah a number of years I would definitely say that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information 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 does not 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 do not make them what they require to be in in an era of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any service has from a cost point of view from an effect viewpoint on employees it is absolutely critical that it's done properly 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 most significant destructive impact on individuals's wellness and numerous other factors if people aren't paid uh I have actually constantly been astonished entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this type of webinar has 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 a crucial cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment option is an excellent primary step um offering an end-to-end payroll service for your staff members worldwide again I believe is another huge um procedure again aligning and ensuring you have standardization Global processes all of those things are absolutely essential to success success of organizations and reducing the number of tools platforms and bank accounts they need for their International 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 thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're implied to be um I don't believe any of us are in fact doing that for for the thanks
anyhow we know how how important a function 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 everyone that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na say imagine the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting 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 check out them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business select to primary different checking account there are companies out there doing exactly this for particular nations and I've worked in a business or many companies doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we're not intentionally doing that we're not producing extra work for anybody where we don't need to and any person that's managing that process 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 believe numerous factors one is it's the standard I think individuals have got so used to we need a new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a process that requires taking a look at it requires altering but eventually individuals are really stuck with what they recognize
with best um modification is a hard thing all of us don't like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the advantages of having preserving multiple checking account however there's a big amount of complexity chooses setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for individual people so the intricacy is huge however I believe the truthful answer is change um people haven't had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is a component of resistance to alter but we have actually always done it that way is no real excuse for not looking at the the benefits and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century approximately there is a lot to keep track of and this method does present several challenges um so Johnny might you tell us about those obstacles yeah naturally so there's a range 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 seems like our CFO has acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 workers 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 closer, considering your accomplishments.
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