Find out more about Papaya Global Payroll Location ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a protected and trusted approach of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Employee Website supplies staff members with the ability to gain access to and view important documents such as pay slips, wage and tax declarations, and work records. This website is accessible on both desktop and mobile phones and is used in different languages.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to worldwide staff members no matter the number of workers in the business. The company can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional benefits service providers in every nation, create regional accounts and have a minimum number of workers.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total employment costs distributed per area, overall employment costs per cycle and far more.
Worldwide, I have actually shown management and tactical proficiency in assisting large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function includes managing and developing 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 supplier.
company to make the time 100 list for many prominent companies worldwide we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon excellent night depending on where you are in the world it's charming to satisfy 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 market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a real go at that over the last five or 6 years where I've sort of had a range of different roles on the service provider side and likewise on the supplier side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort 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 sunshine is it it's not no it's it's raining here it's extremely very bleak and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Global payroll payments as a strategic possession uh we'll likewise review a wrap-up which should leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and handling them becomes a growing number of complicated International companies are aiming to find Solutions and new ways to simplify procedures particularly from a payroll and cross-border payment viewpoint many organizations maintain separate bank account just for payroll while some have multiple accounts in different nations does it make sense for business to preserve different bank accounts sometimes in different nations it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in adequate in one nation however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of factors most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they add more complexity the global Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's often an overwhelming number of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely extremely fundamental there's no genuine consistency framework we're residing in an age 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 and that just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a picture they see a lack of visibility likewise reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes badly communicated hires and terminations as well as absence management and system configurations and then when you round it all off and the information is delivered to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money worldwide payroll and payments do not run efficiently if they rely on the needed multiple 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 obstacles company face when they're paying to staff members or otherwise that's an excellent question I always toss this back and say what is it what doesn't need to be included best 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 country there's payment amount of time 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 customer's own in-country account so there's intricacy any place you look right ultimately developing a knowledge base is definitely crucial but everywhere you look with payroll payment they resemble extremely payments no if however 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 believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to sort of progress with that it likewise also to add to that payroll and financing need to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely important that payroll and finance teams work better together than ever um I'm constantly amazed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually 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 however also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to contribute to sort of the level of intricacy there's a growing number of benefits being organ or being provided by companies throughout the world so once again you're just seeking to add increasingly more 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 sure but have you got any experience in kind of genuine difficulties or real difficult kind of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of decades I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we need to produce extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require 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 challenging as it requires to be agreed and rightly as you said payroll is the single greatest liability that any organization has from a cost point of view from an effect point of view on employees it is definitely vital 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 have to be done right it has the biggest harmful effect on people's wellness and lots of other elements if individuals aren't paid uh I've constantly been impressed entering into this Market kind of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has been informed 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 employees or not um however eventually payroll is such an important cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider 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 correctly so leveraging the first Worldwide Payments first payroll payment solution is a terrific first step um providing an end-to-end payroll option for your employees globally once again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of services and lowering the number of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're meant to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how important a function 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 involved in those procedures and likewise so imagine sorry I'm just I was simply gon na say imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands potentially Millions think of getting that numerous thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an interesting job trying to clean all those up for sure oh absolutely I can't think of 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 in fact see what was going on and type of shot to return to everyone so moving on appearance why do companies choose to main different checking account there are businesses out there doing precisely this for specific nations and I have actually worked in a company or numerous organizations doing exactly that I can say it does not constantly feel efficient and it does produce more work I know we're not purposely doing that we're not creating additional work for anyone where we do not need to and anybody that's managing 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 think numerous reasons one is it's the requirement I believe people have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and many other ways um to to type of do it so I think there's a range I think this is a process that needs taking a look at it needs altering however eventually people are very stuck with what they recognize
with ideal um modification is a challenging thing all of us do not like change um so I believe 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 obviously the advantages of having maintaining numerous savings account however there's a substantial amount of intricacy chooses establishing a savings account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for private people so the complexity is big but I believe the truthful answer is change um people have not had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is understanding you know and there is an element of resistance to change however we've always done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on 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 technique does present numerous obstacles um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I recently made a modification 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 acquired another CFO, and with this enhanced ability, I have actually successfully secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Art