Find out more about Papaya Global Payroll Services Pricing ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly committed to handling payments. This supplies us with a safe and reputable technique of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single control panel that effectively handles my payroll, EOR, and contractors.
The Staff member Portal offers employees with the ability to access and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in different languages.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global staff members regardless of the variety of staff members in the business. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source regional benefits suppliers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities provided by International HR incorporate various functions such as keeping track of vacation time, making sure compliance, helping with the process of welcoming brand-new employees and bidding farewell to departing ones, providing a secure online platform for saving workers' documents, and offering assistance for work allow treatments in case your staff members need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce diversity, overall work expenses distributed per place, overall employment costs per cycle and much more.
Internationally, I have shown management and strategic know-how in guiding large-scale populations of over 100,000 employees across 170 countries. Currently, I are accountable for supervising payroll methods, as mentioned by Mark. My function includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As an international business, we are honored to be included on the prominent Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. 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 decade of experience in the payments industry, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the supplier side and also on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everybody another couple of uh well one of the 30 seconds or two 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 already simply to hear where everybody is um it's nice to to sort of like see where everybody 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 want 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 handling Global payroll why companies keep separate
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 Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up and that must leave his time at the really 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 International labor forces become a growing number of common and managing them becomes a growing number of intricate Global organizations are seeking to find Solutions and new ways to streamline processes particularly from a payroll and cross-border payment perspective lots of companies keep separate bank account just for payroll while some have several accounts in different nations does it make good sense for companies to maintain separate checking account sometimes in various countries it does but just for payroll exists a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping international business enhance the episode complex procedures of
making payroll payments properly 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 bank account how companies accurately anticipate their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes complicated for a range of reasons most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include additional intricacy the worldwide Labor force is currently three and a half billion people 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 companies and growing all doing their own thing all over the world in the conventional payroll design there's frequently a frustrating number of various systems resulting in lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely extremely standard there's no genuine consistency framework we're residing in an era of tech however payroll has been sluggish 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 companies state they have Workforce data in real time that's another number that offers me sleepless nights and rather honestly the more a company spends on international payroll the less of a photo they see an absence of visibility likewise encompasses 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 companies have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately interacted hires and terminations along with lack management and system setups and after that when you round all of it off and the information is shipped to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments don't run smoothly if they depend on the needed several procedures systems and partners it is just 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 paying to employees or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be consisted of right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look right ultimately developing a knowledge base is definitely critical however everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type 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 essential and innovation is allowing us to kind of move forward with that it also too to add to that payroll and financing require to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing teams work more detailed together than ever um I'm constantly astonished when people state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data 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 live in and well-being being a growing number of crucial to add to type of the level of complexity there's more and more benefits being organ or being offered by organizations throughout the world so once again you're simply looking to add more and more payments to this already complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real challenges or real tough type of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a couple of years I would certainly state that the larger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are teams feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop extra handoffs while doing sos that we operate in they just 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 operating in today there is no reason that we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense point of view from an impact perspective on workers it is definitely critical 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 need to be done right it has the biggest detrimental impact on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been impressed coming into this Market type of the last five to 10 years is how little thanks the
payroll group get um so I'm not sure anyone on this kind of webinar has 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 workers or not um but ultimately 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 however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Global Payments very first payroll payment service is a great primary step um providing an end-to-end payroll service for your workers internationally once again I believe is another huge um process again aligning and guaranteeing you have standardization International processes all of those things are definitely essential to success success of services and lowering the variety of tools platforms and checking account they need for their Global 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 have actually never ever 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 problems where things haven't gone quite where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway 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 everybody that's associated with those procedures and also so picture sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job trying to clean up 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 require days of the week to try to look through them and really see what was going on and type of shot to return to everyone so moving on look why do business choose to main separate savings account there are businesses out there doing precisely this for specific nations and I have actually worked in a company or lots of companies doing precisely that I can state it doesn't always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anyone that's managing that procedure 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 lots of reasons one is it's the standard I think individuals have got so used to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a process that needs looking at it needs altering but eventually individuals are very stuck to what they're familiar
with best um change is a hard thing all of us do not like change um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping several bank accounts however there's a big quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the complexity is big however I think the sincere answer is modification um individuals haven't been able to alter or have not had always the knowledge to really make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly 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 nearly be figured out to be the next Century or two there is a lot to track and this approach does pose numerous difficulties um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you should have a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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