Find out more about Papaya Global Payroll Cost Calculator ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and reputable technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app improves my payroll process, saving me a considerable quantity of time monthly. With its user-friendly interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
The Worker Portal supplies workers with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists companies provide competitive advantages plans to international workers despite the variety of staff members in the company. 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 advantages providers in every nation, create local accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents 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 spending, labor force variety, overall employment costs dispersed per location, overall employment expenses per cycle and much more.
Internationally, I have actually demonstrated leadership and tactical knowledge in directing large-scale populations of over 100,000 employees across 170 nations. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My function involves managing and establishing external collaborations, supporting Business customers, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We specialize in offering payroll and labor force management services to staff members in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I've type of had a variety of different roles on the provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays 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 is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very uninspiring and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the challenge years of managing Worldwide payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a recap and that must leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and managing them ends up being increasingly more complicated International companies are wanting to discover Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment perspective numerous companies maintain separate bank account just for payroll while some have numerous accounts in different countries does it make sense for business to keep different checking account often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies enhance the episode complex processes of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of reasons most importantly policies compliance information security and banking guidelines then there are the sheer numbers they add additional complexity the global Workforce is currently three and a half billion individuals 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 around the world in the traditional payroll design there's typically a frustrating variety of different systems leading to lengthy manual processes and silos the variety of Combinations could be non-existent in large quantities and or really really basic there's no real consistency framework we're residing in an age 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 often with pen and paper which simply blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Workforce information in real time that's another number that offers me sleep deprived nights and rather honestly the more an organization invests in international payroll the less of a picture they see an absence of presence likewise extends to payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global services have revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors badly communicated hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect place 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 all over the world payroll and payments don't run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges service face when they're making payments to staff members 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 right and what does
it need to be thought about there's differing 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 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 complexity any place you look best ultimately constructing a knowledge base is definitely vital but all over you look with payroll payment they resemble very payments no if but 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 basic and innovation is permitting us to sort of progress with that it also also to add to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work better together than ever um I'm constantly surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation I would say no so why do we as an industry accept that why our payroll and payments so often 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 increasingly more crucial to add to sort of the level of intricacy there's increasingly more advantages being organ or being provided by services throughout the world so once again you're simply looking to include more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real obstacles or real tough type of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of decades I would certainly say that the larger a service 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 details into the next function as it were that's really handling the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and an age that you know that we are working in today there is no reason that we are still making this as tough as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any organization has from an expense viewpoint from an impact perspective on employees it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on individuals's wellness and numerous other aspects if people aren't paid uh I have actually constantly been impressed entering this Market kind of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific 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 become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the very first Global Payments first payroll payment service is an excellent first step um providing an end-to-end payroll service for your employees worldwide once again I believe is another huge um process once again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of businesses and reducing the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone rather where they're indicated 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 and that'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 associated with those procedures and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task trying to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and really see what was going on and kind of try to return to everybody so proceeding appearance why do companies choose to main different savings account there are businesses out there doing exactly this for specific nations and I've worked in an organization or lots of services doing precisely that I can state it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for anyone where we don't need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think many factors one is it's the standard I believe people have actually got so utilized to we need a brand-new bank account we open an entity and rightly so you require 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 gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I think this is a procedure that requires looking at it requires altering but eventually individuals are really stuck to what they're familiar
with ideal um change is a difficult thing we all do not like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having maintaining multiple bank accounts however there's a substantial amount of intricacy opts for setting up a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is substantial however I believe the honest answer is change um individuals haven't been able to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change however we've constantly done it that way is no genuine excuse for not taking a look 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 approach does present numerous obstacles um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just did you switched 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 Global employees you deserve a corner workplace with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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