Find out more about Papaya Global News ... 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 obtained a different Chief Financial Officer specifically dedicated to handling payments. This supplies us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Worker Website provides staff members with the capability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global assists business provide competitive benefits plans to worldwide employees no matter the number of staff members in the business. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source local advantages service providers in every nation, produce regional accounts and have a minimum variety of employees.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs dispersed per area, overall work costs per cycle and much more.
Globally, I have shown leadership and tactical knowledge in guiding massive populations of over 100,000 staff members throughout 170 nations. Presently, I are accountable for overseeing payroll strategies, as mentioned by Mark. My role includes managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in supplying payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet 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 decade of experience in the payments market, I have concentrated on payroll and payment services for the past 7 years. The complexities and challenges of this field have actually always captivated me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I've type of had a variety of various roles on the supplier side and likewise on the vendor side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everybody comes from and I truly 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 extremely bleak and I want I was somewhere else 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 difficulty years of handling Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic asset uh we'll also go over a recap and that must leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more typical and handling them ends up being increasingly more intricate Global companies are seeking to find Solutions and brand-new ways to enhance processes particularly from a payroll and cross-border payment standpoint lots of organizations preserve different bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to keep separate savings account in some cases in various countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping international business simplify the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll bank accounts, discover how business forecast payroll costs to enhance working capital, and find how enhancing worldwide payroll payments can transform them from a difficult task into a tactical possession.
Managing payroll worldwide is a challenging task due to numerous regulations, compliance requirements, data security issues, and banking rules. The large variety of workers and companies adds to the complexity, with an estimated 3.5 billion people in the worldwide workforce, 500 million of whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems often lead to manual procedures, data silos, and a lack of combination, leading to disparities and inefficiencies. Regardless of residing in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, typically utilizing pen and paper. This webinar aims to offer insights and services to streamline and optimize international payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather frankly the more a business spends on global payroll the less of a photo they see an absence of presence also extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide businesses have expressed that they do not 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 information entry mistakes improperly communicated hires and terminations in addition to absence management and system setups and then when you round everything off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they count on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to workers or otherwise that's a great concern I constantly throw this back and say what is it what does not need to be included ideal and what does
it require to be considered there's varying 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy anywhere you look right ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is allowing us to type of move forward with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm always surprised when people say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession 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 typically 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 likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more crucial to contribute to type of the level of intricacy there's more and more advantages being organ or being offered by organizations across the world so again you're just looking to add a growing number of payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine challenges or real difficult sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would definitely say that the larger 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 details into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we run 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 era that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single most significant liability that any service has from a cost perspective from an impact perspective on employees it is absolutely important that it's done properly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest detrimental result on people's wellness and numerous other aspects if individuals aren't paid uh I've constantly been impressed coming into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely important that all of this things is done properly so leveraging the first International Payments first payroll payment service is an excellent first step um offering an end-to-end payroll option for your staff members internationally once again I think is another big um process again lining up and guaranteeing you have standardization International procedures all of those things are definitely crucial to success success of services and lowering the number of tools platforms and checking account they need for their Global 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 have actually never ever had a hundred countless 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 grievances where things have not gone quite where they're implied to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how essential 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 everybody that's involved in those processes and also so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind 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 attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and sort of shot to return to everybody so moving on appearance why do companies pick to main separate checking account there are services out there doing exactly this for specific countries and I've operated in an organization or lots of services doing precisely that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not creating extra work for anybody where we do not need to and any person that's managing 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 amount that we are I believe many factors one is it's the requirement I think people have actually got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I believe this is a process that needs looking at it requires altering but eventually people are extremely stuck with what they're familiar
with ideal um modification is a tough thing all of us do not like modification um so I believe it's just kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the advantages of having keeping multiple savings account however there's a big quantity of complexity opts for setting up a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for private people so the intricacy is huge however I believe the sincere response is change um people have not been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this method does present a number of obstacles um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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