Find out more about Papaya Global Art ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically committed to managing payments. This offers us with a safe and secure and trustworthy approach of making payments to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Worker Website provides employees with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages plans to international employees despite the number of employees in the company. The company can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source local advantages suppliers in every country, create regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, total work costs distributed per place, overall employment costs per cycle and much more.
Globally, I have demonstrated leadership and strategic knowledge in assisting massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role involves handling and developing external partnerships, supporting Enterprise customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
company to make the time 100 list for most influential business on the planet we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good night depending upon where you are in the world it's beautiful to fulfill 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 have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually sort of had a range of different functions on the provider side and likewise on the vendor side from a payroll perspective so really anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone 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 uninspiring and I wish I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise discuss a wrap-up which needs to leave his time at the extremely extremely 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 Worldwide workforces become a growing number of typical and handling them ends up being increasingly more complicated Worldwide organizations are wanting to find Solutions and new methods to simplify processes especially from a payroll and cross-border payment perspective numerous companies maintain different bank account just for payroll while some have numerous accounts in different nations does it make sense for business to keep different checking account in some cases in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies enhance the episode complex procedures of
making payroll payments properly effectively securely and on time throughout this webinar we'll stroll you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in enough in one nation however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most notably policies compliance data security and banking guidelines then there are the large numbers they include further intricacy the international Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or extremely really fundamental there's no genuine consistency structure we're residing in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind whenever 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 gives me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of international companies have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes poorly interacted hires and terminations along with absence management and system setups and then when you round all of it off and the data is delivered to the wrong location the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money all over the world payroll and payments don't run efficiently if they depend on the required multiple processes 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 difficulties organization face when they're making payments to employees or otherwise that's a great concern I always toss this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought of there's varying Bank information 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is definitely critical however everywhere you look with payroll payment they resemble very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to kind of progress with that it also also to add to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and finance groups work better together than ever um I'm constantly amazed when people state I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they divide the payroll payment from estimation 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 process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the compensation landscape is becoming increasingly intricate. Companies are continuously presenting brand-new advantages and payment choices, which adds to the general complexity. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inefficiencies and traffic jams. In my opinion, this doesn't need to be the case. In today's technologically advanced period, there's no reason for preserving troublesome treatments. Payroll, the company's greatest expense, should be processed properly and on time. Even small delays can adversely affect employees' well-being and have far-reaching effects. Therefore, it's crucial to focus on precise and timely payments.
payroll group get um so I'm uncertain anyone on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all workers or not um however eventually payroll is such an important cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment solution is a great initial step um providing an end-to-end payroll option for your workers internationally again I think is another big um process again aligning and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and checking account they need for their International 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 had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're meant to be um I don't think any of us are really doing that for for the thanks
anyway we understand how how important 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 associated with those procedures and also so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and in fact see what was going on and type of shot to return to everybody so proceeding look why do business select to primary separate savings account there are companies out there doing precisely this for specific nations and I've operated in a service or numerous organizations doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not deliberately doing that we're not producing extra work for anybody where we don't need to and anyone that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe many factors one is it's the standard I think people have actually got so utilized to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but 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 embraced and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a variety I believe this is a procedure that requires looking at it requires altering but ultimately people are really stuck with what they're familiar
with best um modification is a challenging thing all of us do not like change um so I believe it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the advantages of having keeping several checking account however there's a substantial quantity of intricacy chooses establishing a bank account preserving it guaranteeing it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is substantial but I think the truthful answer is change um people haven't been able to alter or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect 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 know what might practically be identified to be the next Century or two there is a lot to keep track of and this method does posture several challenges um so Johnny could you tell us about those obstacles yeah of course so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually effectively secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is commendable. You should have a corner office with a parking space that is better, considering your achievements.