Find out more about Pricing Comparison Papaya Global ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically devoted to managing payments. This offers us with a safe and dependable approach of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
The Worker Website provides workers with the ability to gain access to and view important files 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 different languages.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to worldwide staff members no matter the number of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every nation, create regional accounts and have a minimum variety of staff members.
International HR Performances
's HR functionalities consist of 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 provides you insights into labor force costs, labor force diversity, overall work costs dispersed per area, overall work costs per cycle and much more.
Worldwide, I have actually shown leadership and strategic proficiency in directing massive populations of over 100,000 workers across 170 countries. Presently, I am responsible for managing payroll methods, as discussed by Mark. My function includes handling and developing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options provider.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a satisfaction to satisfy 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 decade of experience in the payments industry, I have concentrated on payroll and payment solutions for the past seven years. The intricacies and difficulties of this field have constantly captivated me.
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've kind of had a range of various roles on the service provider side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone originates from and I truly 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 very very gloomy and I want I was somewhere else at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll also discuss a wrap-up which ought to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more common and managing them becomes a growing number of intricate Global organizations are seeking to find Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment viewpoint numerous companies maintain different savings account just for payroll while some have multiple accounts in different countries does it make good sense for business to preserve separate bank accounts sometimes in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting multinational business streamline the episode complex processes of
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one country however when you're doing it internationally 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 add additional complexity the global Workforce is currently three 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 presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's typically an overwhelming number of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or very very fundamental there's no real consistency framework we're residing in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that just blows my mind each time I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a business spends on global payroll the less of a picture they see a lack of presence likewise reaches payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide services have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes badly interacted hires and terminations along with lack management and system setups and then when you round everything off and the data is delivered to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments do not run smoothly if they count on the necessary numerous procedures 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 difficulties service face when they're paying to workers or otherwise that's a great question I constantly toss this back and say what is it what does not require to be included right and what does
it need to be considered 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 abilities 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 consumer's own in-country account so there's intricacy anywhere you look ideal ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link 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 technology is permitting us to kind of progress with that it also also to add to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is absolutely necessary that payroll and financing teams work closer together than ever um I'm always amazed when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation 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 procedure it's the point of information collection all the way through to paying individuals any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to add to sort of the level of complexity there's more and more advantages being organ or being offered by organizations across the world so once again you're simply looking to include 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 make certain but have you got any experience in kind of genuine challenges or genuine challenging sort of pay uses to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding details into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to produce extra handoffs at the same times that we run in they just make them more timely they make them less efficient and they do not make them what they need 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 needs to be concurred and rightly as you said payroll is the single most significant liability that any business has from a cost perspective from an impact viewpoint on workers it is absolutely crucial 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 most significant damaging impact on individuals's well-being and lots of other aspects if people aren't paid uh I've always been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people only see when things fail. Nevertheless, when things go right, it's seen as just a regular job. This is how it's perceived externally too. Therefore, it is necessary to make sure that tasks like Wi-Fi Global and other crucial matters are done correctly. Utilizing the very first Global Payments very first payroll payment solution is a great preliminary step towards providing a thorough payroll option for employees worldwide. Standardization, global processes, and lowering the number of tools, platforms, and bank accounts required for worldwide payroll are crucial consider achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as planned. Ultimately, we do not do it for the thankfulness.
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 simple as possible for everyone that's involved in those procedures and also so picture sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job trying 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 browse them and in fact see what was going on and type of try to return to everybody so carrying on look why do business pick to primary separate bank accounts there are services out there doing precisely this for specific countries and I've worked in an organization or numerous companies doing precisely that I can say it doesn't constantly feel efficient and it does create more work I understand we're not purposely doing that we're not producing additional work for anyone where we do not need to and anyone that's dealing with 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 amount that we are I believe many reasons one is it's the standard I believe people have got so used to we require 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 just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I think this is a procedure that needs taking a look at it requires changing but ultimately individuals are very stuck to what they recognize
with right um modification is a difficult thing we all don't like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having keeping numerous savings account but there's a big quantity of complexity chooses setting up a checking account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the right user accesses for individual individuals so the intricacy is big however I believe the truthful response is change um people haven't had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions besides opening a checking account I think you've hit the nail on the head I believe it is knowledge you know and there is a component of resistance to change however we've always done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could practically be figured out to be the next Century or so there is a lot to monitor and this technique does present several challenges um so Johnny might you tell us about those challenges yeah of course so there's a range right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan