Find out more about Papaya Global Linkedin ... We now have the ability to manage 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 specifically committed to handling payments. This offers us with a safe and secure and reliable approach of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
The Employee Portal provides employees with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile devices and is used in different languages.
Advantages Administration
Papaya Global assists business use competitive advantages plans to global workers regardless of the number of workers in the company. The company can establish health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits service providers in every country, develop local accounts and have a minimum number of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, overall employment costs distributed per location, overall employment costs per cycle and a lot more.
Globally, I have actually shown management and strategic know-how in guiding large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for managing payroll methods, as mentioned by Mark. My function includes handling and developing external collaborations, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for a lot of influential business on the planet we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending upon where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've kind of had a variety of various functions on the company side and likewise on the vendor side from a payroll perspective so truly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting 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 comes from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very very bleak and I want I was somewhere else at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic property uh we'll likewise review a wrap-up which needs to leave his time at the really very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and managing them ends up being a growing number of complicated International organizations are looking to find Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment perspective many organizations keep different checking account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep different savings account in some cases in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments accurately effectively securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one nation but when you're doing it internationally it's next level and Beyond it becomes complex for a range of factors most significantly policies compliance information security and banking guidelines then there are the sheer numbers they include further complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll design there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in large amounts and or very very fundamental there's no genuine consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more a company invests in worldwide payroll the less of a picture they see a lack of exposure also reaches payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the deal nearly half of global organizations have actually revealed that they don't 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 bad HCM data data entry mistakes improperly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is shipped to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments don't run smoothly if they depend on the needed multiple 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 business face when they're paying to workers or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be consisted of right and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's complexity anywhere you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in 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 technology is enabling us to type of move forward with that it likewise also to add to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely necessary that payroll and financing teams work better together than ever um I'm constantly 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 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 typically 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 individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more crucial to contribute to type of the level of complexity there's increasingly more advantages being organ or being provided by businesses across the world so once again you're simply looking to add a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or genuine tough type of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop additional handoffs in the processes that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you understand that we are operating in today there is no reason we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from an expense perspective from an impact point of view on workers it is definitely vital 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 most significant damaging result on people's well-being and many other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle we all find out about 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 also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment service is a fantastic first step um offering an end-to-end payroll solution for your employees globally once again I think is another huge um procedure again aligning and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and decreasing the variety of tools platforms and checking account they require for their Worldwide 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 don't anticipate to you do get the odd 5 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 don't think any of us are actually doing that for for the thanks
anyway 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 easy as possible for everyone that's involved in those procedures and also so think of sorry I'm just I was simply gon na say picture the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and actually see what was going on and kind of try to return to everybody so carrying on look why do companies select to main separate bank accounts there are businesses out there doing exactly this for particular nations and I've worked in an organization or numerous services doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not purposely doing that we're not developing extra work for anyone where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have actually got so utilized to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted 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 methods um to to sort of do it so I think there's a range I believe this is a process that requires taking a look at it needs altering but eventually people are really stuck to what they recognize
with ideal um change is a difficult thing all of us do not like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping several checking account however there's a big quantity of intricacy chooses establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the best user accesses for specific individuals so the intricacy is big but I believe the honest answer is change um individuals haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to track and this technique does present numerous obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety right there is so
I recently made a modification 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 employees 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 more detailed, considering your achievements.
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