Find out more about Papaya Global Tonga ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and trustworthy method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Worker Portal offers staff members with the capability to access and view crucial documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global assists business provide competitive advantages packages to global staff members no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source regional advantages companies in every nation, produce regional accounts and have a minimum variety of workers.
The HR abilities offered by Global HR incorporate numerous functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of inviting brand-new workers and bidding farewell to departing ones, offering a secure online platform for saving workers' documents, and supplying assistance for work permit procedures in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total employment expenses dispersed per area, total work costs per cycle and far more.
Internationally, I have shown management and tactical knowledge in directing massive populations of over 100,000 employees across 170 nations. Presently, I am responsible for overseeing payroll methods, as discussed by Mark. My role involves handling and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services supplier.
business to make the time 100 list for most influential companies worldwide we provide payroll payments and labor force management to all worker enters over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon great night depending upon where you are 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've been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the difficulty in all of the above of
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different functions on the company side and likewise on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I actually do hope it's much sunnier than it is 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 extremely very dreary and I wish I was somewhere else at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Worldwide payroll why companies keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a strategic asset uh we'll also go over a wrap-up and that needs to leave his time at the very extremely 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 typical and managing them becomes increasingly more complicated Global companies are looking to find Solutions and brand-new methods to enhance processes particularly from a payroll and cross-border payment viewpoint numerous companies maintain different savings account just for payroll while some have several accounts in various countries does it make sense for companies to maintain different savings account in some cases in different countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational companies streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a variety of reasons most notably regulations compliance data security and banking guidelines then there are the large numbers they include additional complexity the global Workforce is presently 3 and a half billion people by 2030 it's approximated 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 organizations and growing all doing their own thing all over the world in the standard payroll model there's often an overwhelming number of different systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or really very fundamental there's no genuine consistency structure we're living in a period 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 often with pen and paper which simply blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite honestly the more a company invests in global payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and inability to accurately track these payments can result in compliance mishaps in the last mile of the transaction almost half of international organizations have expressed that they do not 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 badly communicated hires and terminations along with lack management and system setups and then when you round all of it off and the information is delivered to the incorrect location the typical expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently if they count 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 needs to be factored into the challenges service face when they're paying to workers or otherwise that's an excellent concern I constantly toss this back and state what is it what doesn't require to be consisted of right and what does
it require to be thought of there's varying 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 have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is absolutely important but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is enabling us to kind of move forward with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Savings account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they split the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world puts a high worth on wellness and the compensation landscape is becoming significantly intricate. Businesses are continuously presenting new advantages and payment options, which adds to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my opinion, this doesn't have to be the case. In today's technologically sophisticated period, there's no justification for preserving troublesome procedures. Payroll, the company's most significant cost, need to be processed properly and on time. Even small delays can negatively impact employees' wellness and have significant repercussions. For that reason, it's important to focus on accurate and prompt payments.
payroll group get um so I'm not sure anyone on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe 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 crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment service is a great initial step um supplying an end-to-end payroll solution for your employees worldwide once again I believe is another huge um procedure again aligning and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of businesses and decreasing the variety of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I do not think any of us are really doing that for for the thanks
anyhow we understand 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 simple as possible for everybody that's involved in those processes and also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine 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 really see what was going on and kind of shot to return to everyone so moving on look why do business select to primary separate savings account there are businesses out there doing precisely this for specific nations and I've worked in a business or numerous services doing precisely that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not developing additional work for any person where we don't have to and anyone that's managing that procedure 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 reasons one is it's the requirement I think individuals have got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a variety I believe this is a process that requires looking at it requires changing but eventually people are really stuck to what they recognize
with ideal um change is a tough thing all of us do not like change um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand clearly the advantages of having keeping multiple checking account but there's a substantial amount of complexity chooses setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for individual people so the complexity is substantial however I think the truthful answer is modification um individuals haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no real reason for not looking 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 monitor and this method does position several challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I recently made a change to our Business 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 gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your commitment to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
Papaya Global Bhutan