Find out more about Papaya Global Tuvalu ... We now have the capability to manage both our payroll and payments processes 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 provides us with a safe and trustworthy technique of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Website
Staff members have access to an Employee Website where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages bundles to global staff members no matter the variety of staff members in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local benefits companies in every nation, develop local accounts and have a minimum variety of employees.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment costs distributed per area, total work costs per cycle and a lot more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Enterprise customers and services in addition to acting as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your area. It's an enjoyment to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past 7 years. The complexities and obstacles of this field have actually constantly mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a variety of various functions on the service provider side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing 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 originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really gloomy and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll also review a recap which needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more common and managing them ends up being increasingly more complex International organizations are seeking to find Solutions and brand-new methods to enhance processes specifically from a payroll and cross-border payment perspective numerous companies preserve different checking account just for payroll while some have several accounts in different nations does it make sense for business to preserve separate bank accounts often in different nations it does but 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 companies simplify the episode complex procedures of
Ensuring accurate, effective, and timely payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll checking account, find out how companies forecast payroll expenses to optimize working capital, and find how enhancing international payroll payments can change them from a difficult job into a strategic property.
Handling payroll worldwide is a challenging task due to various regulations, compliance requirements, information security issues, and banking rules. The sheer number of workers and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international labor force, 500 million of whom are in Africa, and 230 million companies worldwide.
Standard payroll systems frequently result in manual processes, data silos, and an absence of integration, leading to inconsistencies and inadequacies. In spite of residing in a period of technological advancements, payroll management has actually been slow to adapt, with as much as 25% of payroll still processed by hand, often 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 sleepless nights and quite frankly the more a company invests in worldwide payroll the less of a picture 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 international organizations have actually 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 due to time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments do not run efficiently if they rely on the required multiple processes systems and partners it is just not possible so Johnny from a payments point of view 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 a great question I constantly throw this back and say what is it what does not need to be consisted of ideal 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 country there's payment amount of time 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 customer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely important but everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you 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 absolutely fundamental and technology is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and financing teams work more detailed together than ever um I'm constantly surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from calculation I would say no so why do we as an industry 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 people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more essential to contribute to type of the level of complexity there's increasingly more advantages being organ or being used by companies across the world so again you're just looking to include more and more payments to this already complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real difficulties or real tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would certainly say that the bigger a company 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 teams feeding info into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you stated payroll is the single most significant liability that any company has from a cost viewpoint from an impact point of view on staff members it is absolutely crucial 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 greatest destructive impact on individuals's wellness and numerous other elements if individuals aren't paid uh I have actually constantly been impressed coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll group may not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just observe when things fail. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi International and other vital matters are done correctly. Utilizing the very first Worldwide Payments first payroll payment service is an excellent preliminary step towards providing a detailed payroll option for staff members worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account needed for global payroll are crucial factors in accomplishing company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as prepared. Eventually, we don't do it for the appreciation.
anyhow we understand 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 everybody that's associated with those processes and also so picture sorry I'm simply I was just gon na state picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and actually see what was going on and kind of shot to get back to everybody so moving on appearance why do companies pick to main separate bank accounts there are services out there doing precisely this for particular countries and I've operated in an organization or numerous services doing precisely that I can state it does not constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing extra work for anybody where we do not need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I believe individuals have got so utilized to we need a brand-new bank account we open an entity and rightly so you require it for payroll purposes but 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 passed by to add to that people have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a procedure that needs looking at it requires changing however eventually individuals are very stuck to what they're familiar
with right um modification is a hard thing we all do not like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the benefits of having preserving multiple checking account but there's a huge quantity of intricacy chooses establishing a checking account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is substantial but I think the truthful response is modification um people have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank account I believe you have actually struck the nail on the head I think it is understanding you know and there is a component of resistance to change but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might almost be determined to be the next Century approximately there is a lot to keep an eye on and this technique does position a number of obstacles um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I just 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 effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
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