Find out more about Papaya Global San Marino ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and trusted technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive advantages bundles to global workers despite the number of employees in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local benefits companies in every country, create local accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your workers require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall work expenses dispersed per location, total work expenses per cycle and much more.
environments around the world I provided leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work across the business managing and building external relationships supporting Enterprise customers and services along with functioning as a consultant for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be included on the distinguished Time 100 list of the most influential business worldwide. We concentrate on offering payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have always captivated me.
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I've type of had a variety of various functions on the service provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately 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 currently simply to hear where everyone is um it's nice to to type of like see where everyone originates 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 somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly helpful for international organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate bank accounts for payroll in various nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic asset for payroll executives. We will likewise supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most notably regulations compliance information security and banking guidelines then there are the large numbers they include additional intricacy the worldwide Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll design there's frequently a frustrating variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big amounts and or very extremely standard there's no genuine consistency structure we're residing in an age of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I believe
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and failure to precisely track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes badly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments do not run efficiently if they count on the necessary numerous procedures systems and partners it is just 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 making payments to workers or otherwise that's a great question I constantly throw this back and state what is it what doesn't need to be included best and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 need to pay from the client's own in-country account so there's complexity any place you look ideal ultimately building a knowledge base is definitely critical however everywhere you look with payroll payment they are like super payments no if however some children 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 think there's now a bit more recognition that payroll payments are definitely essential and innovation is permitting us to sort of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely crucial that payroll and finance groups work better 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 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 ultimately it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more crucial to add to type of the level of intricacy there's increasingly more advantages being organ or being used by companies throughout the world so again you're simply seeking to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or genuine challenging sort of pay utilizes to play to pay people I believe yeah I mean over the last well yeah a number of years I would certainly say that the larger an organization 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 information into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any business has from an expense point of view from an effect perspective on staff members it is absolutely 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 need to be done right it has the biggest harmful effect on individuals's wellness and lots of other factors if individuals aren't paid uh I've constantly been astonished entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this type of webinar has actually been informed 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 eventually payroll is such an important cycle we all find out about it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is an excellent primary step um offering an end-to-end payroll option for your staff members worldwide once again I believe is another substantial um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are definitely key to success success of services and lowering the number of tools platforms and checking account they require for their Global 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've never had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I don't think any of us are really doing that for for the thanks
anyhow we know how how crucial 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 easy as possible for everybody that's involved in those processes and likewise so imagine sorry I'm just I was just gon na say think of the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would definitely 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 was the case um you 'd need days of the week to try to browse them and really see what was going on and type of try to get back to everyone so proceeding look why do companies pick to main separate checking account there are companies out there doing exactly this for particular nations and I've operated in an organization or numerous organizations doing exactly that I can state it does not always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for any person where we do not need to and anybody that's managing that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I think individuals have got so utilized to we require a brand-new bank account we open an entity and rightly so you need 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 requirement and the norm the people 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 requires taking a look at it requires altering however eventually people are really stuck with what they're familiar
with best um change is a tough thing we all do not like change um so I think it's just kind of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having preserving several checking account but there's a substantial amount of intricacy chooses setting up a bank account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is big however I think the truthful response is change um people have not had the ability to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be determined to be the next Century or so there is a lot to monitor and this method does present a number of difficulties um so Johnny could you inform us about those obstacles yeah of course so there's a range right there is so
I recently made a change to our Business 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 actually gotten another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
Papaya Global Bhutan