Find out more about Papaya Global Saint Kitts & Nevis ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and contractors
Employee Website
Employees have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to worldwide workers regardless of the variety of staff members in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while getting rid of the requirement to source regional benefits providers in every nation, create regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall employment expenses dispersed per place, overall employment costs per cycle and much more.
Worldwide, I have demonstrated leadership and tactical proficiency in directing large-scale populations of over 100,000 employees throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
As a worldwide business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's a pleasure to meet 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 years of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The complexities and obstacles of this field have always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the service provider side and also on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds approximately to join all of us 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 currently simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's really extremely bleak and I want I was somewhere else at this moment in time all right so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling International payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a strategic possession uh we'll likewise review a recap which must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become increasingly more common and handling them becomes increasingly more intricate Global organizations are aiming to find Solutions and brand-new ways to streamline processes specifically from a payroll and cross-border payment viewpoint many companies maintain different checking account just for payroll while some have numerous accounts in different nations does it make good sense for business to keep separate savings account sometimes in different countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international business simplify the episode complex procedures of
making payroll payments properly efficiently firmly 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 business precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they include further complexity 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 more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently an overwhelming number of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or really really fundamental there's no real consistency framework we're residing in an age 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 and that just blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that gives me sleepless nights and rather frankly the more a service invests in worldwide payroll the less of a photo they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of global services have actually revealed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry errors improperly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they depend on the essential multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're making payments to staff members or otherwise that's an excellent question I constantly toss this back and state what is it what does not require to be included right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities 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 intricacy any place you look right eventually building a knowledge base is definitely crucial however everywhere you look with payroll payment they resemble super payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 innovation is permitting us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely important that payroll and financing groups work better together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as a market 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 individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to contribute to kind of the level of complexity there's a growing number of benefits being organ or being used by organizations across the world so again you're just wanting to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or genuine tough kind of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of years I would certainly state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding details into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and a period that you know that we are operating in today there is no reason why we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an effect viewpoint on staff members it is absolutely important that it's done correctly and on time so what we suggest 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 damaging result on individuals's well-being and lots of other factors if people aren't paid uh I have actually always been astonished entering into this Market sort of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only notice when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's viewed externally too. For that reason, it is vital to make sure that jobs like Wi-Fi International and other essential matters are done properly. Using the first Worldwide Payments first payroll payment option is a fantastic preliminary step towards providing an extensive payroll service for workers worldwide. Standardization, international processes, and minimizing the variety of tools, platforms, and bank accounts required for worldwide payroll are crucial consider attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things don't go as planned. Eventually, we do not do it for the gratitude.
anyway we understand how how important 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 easy as possible for everybody that's involved in those procedures and also so picture sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to check out them and really see what was going on and sort of try to get back to everybody so carrying on look why do business choose to primary different bank accounts there are services out there doing exactly this for particular countries and I have actually worked in a business or numerous companies doing precisely that I can state it doesn't constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing extra work for anybody where we do not 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 amount that we are I think numerous factors one is it's the standard I believe people have actually got so utilized to we require a brand-new checking 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 requirement and the standard the people have adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires altering but eventually people are extremely stuck with what they recognize
with right um change is a hard thing we all don't like change um so I think it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand clearly the benefits of having maintaining multiple bank accounts however there's a huge quantity of complexity opts for establishing a savings account maintaining it ensuring it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is big but I believe the honest response is modification um individuals have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions besides opening a checking account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to change but we've 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 understand what might practically be identified to be the next Century or so there is a lot to track and this technique does posture a number of difficulties um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I just recently made a modification 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 gained another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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