Find out more about Papaya Global Payroll Papaya Global ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and reliable method of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits packages to worldwide workers no matter the variety of workers in the business. The company can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source local benefits suppliers in every country, create regional accounts and have a minimum number of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total employment expenses distributed per area, overall work expenses per cycle and far more.
environments around the world I supplied leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Enterprise customers and solutions as well as serving as an advisor for those of you that do not understand who papaya Global is papaya is the first payroll and payments
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force 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, despite your area. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years 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 decided to type of make a real go at that over the last five or six years where I have actually sort of had a variety of different roles on the supplier side and likewise on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 extremely bleak and I wish I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic possession uh we'll also discuss a recap which ought 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 International labor forces end up being increasingly more common and managing them becomes increasingly more complicated Worldwide organizations are aiming to find Solutions and new methods to improve processes especially from a payroll and cross-border payment viewpoint numerous companies keep different savings account just for payroll while some have several accounts in different nations does it make good sense for companies to preserve separate checking account sometimes in different countries it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies improve the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll walk you through the global benefits and drawbacks 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 property so payroll can be tough in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most significantly guidelines compliance information security and banking guidelines then there are the large numbers they include additional intricacy the international Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll model there's typically a frustrating number of various systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or extremely really basic there's no real consistency structure we're residing in a period of tech but 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 and that just blows my mind each time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of global companies have actually expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors poorly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is delivered to the wrong location the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they rely on the necessary numerous procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're making payments to staff members or otherwise that's a great question I constantly throw this back and state what is it what does not need to be included right and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's intricacy wherever you look right eventually developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to type of progress with that it also too to add to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely important that payroll and financing teams work closer together than ever um I'm constantly impressed when people say 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 profession 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 often 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 3rd parties so with the
world we live in and wellness being increasingly more essential to add to type of the level of complexity there's increasingly more advantages being organ or being offered by services throughout the world so once again you're simply aiming to include a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or genuine difficult sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a couple of years I would absolutely state that the bigger an organization 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 groups feeding information 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 always require to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they don't make them what they require to be in in a period of tech and a period that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from a cost point of view from an effect perspective on staff members it is definitely 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 result on individuals's well-being and numerous other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market sort of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I think 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 stuff is absolutely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment solution is a terrific first step um supplying an end-to-end payroll solution for your workers globally again I think is another substantial um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely crucial to success success of services and lowering the variety of tools platforms and bank accounts they require for their Worldwide 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 do not expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone rather where they're suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know 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 easy as possible for everyone that's involved in those procedures and also so think of sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that lots of 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 definitely be a fascinating job attempting 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 need days of the week to attempt to browse them and in fact see what was going on and sort of try to return to everybody so proceeding look why do business choose to primary separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually worked in an organization or many businesses doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not intentionally doing that we're not producing additional work for anybody where we don't have to and anybody 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 reasons one is it's the requirement I think individuals have got so utilized to we require a new savings account we open an entity and appropriately so you need it for payroll functions 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 individuals have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that needs looking at it needs changing however ultimately individuals are very stuck with what they're familiar
with right um modification is a tough thing we all don't like modification um so I believe it's just sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the benefits of having preserving numerous bank accounts however there's a big quantity of intricacy opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is substantial but I believe the honest response is modification um individuals have not had the ability to alter or have not had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I think you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be figured out to be the next Century or so there is a lot to monitor and this approach does posture numerous difficulties um so Johnny could you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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