Find out more about Papaya Global Payroll Timeline ... We now have the capability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Portal supplies staff members with the ability to access and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is offered in different languages.
Benefits Administration
Papaya Global assists companies use competitive advantages bundles to global staff members regardless of the number of workers in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source regional advantages service providers in every nation, develop regional accounts and have a minimum variety of employees.
The HR abilities supplied by Worldwide HR incorporate numerous functions such as keeping track of trip time, guaranteeing compliance, helping with the process of inviting brand-new workers and bidding farewell to departing ones, offering a safe and secure online platform for saving workers' documents, and supplying assistance for work permit treatments in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, overall employment expenses distributed per location, total employment expenses per cycle and far more.
Globally, I have demonstrated management and tactical proficiency in guiding massive populations of over 100,000 employees throughout 170 countries. Presently, I are accountable for managing payroll strategies, as mentioned by Mark. My role includes handling and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for most prominent companies on the planet we provide payroll payments and labor force management to all employee types in over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning excellent afternoon excellent night depending upon where you remain in the world it's lovely to meet you and thank you quite 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 ten years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last five or six years where I've type of had a variety of different functions on the service provider side and likewise on the supplier side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's really very gloomy and I want I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll also go over a recap which ought to leave his time at the really 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 typical and handling them ends up being a growing number of complex Global companies are aiming to discover Solutions and brand-new ways to improve procedures particularly from a payroll and cross-border payment standpoint lots of companies keep separate checking account just for payroll while some have multiple accounts in various nations does it make good sense for business to maintain separate bank accounts sometimes in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being complex for a variety of factors most notably policies compliance information security and banking guidelines then there are the sheer numbers they include more complexity the global Labor force is presently 3 and a half billion people 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 services and growing all doing their own thing around the globe in the traditional payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or very very fundamental there's no real consistency framework we're residing in an era 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 frequently with pen and paper and that 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 only 11 of businesses say they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see an absence of presence likewise encompasses payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of global services have expressed that they don't 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 information data entry mistakes improperly interacted hires and terminations in addition to lack management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments don't run smoothly if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles service face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and say what is it what doesn't require to be included ideal and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely vital but all over you look with payroll payment they resemble super payments no if however some babies 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 recognition that payroll payments are definitely essential and technology is allowing us to type of move on with that it also also to add to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work more detailed together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from estimation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high worth on wellness and the payment landscape is becoming progressively elaborate. Companies are constantly presenting brand-new benefits and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into different teams, which can result in inefficiencies and bottlenecks. In my opinion, this doesn't need to hold true. In today's technologically advanced era, there's no validation for keeping troublesome procedures. Payroll, the business's most significant expenditure, should be processed properly and on time. Even slight hold-ups can adversely affect employees' wellness and have far-reaching repercussions. Therefore, it's vital to prioritize precise and timely payments.
payroll group get um so I'm unsure anyone on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box workout and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first International Payments very first payroll payment service is an excellent primary step um supplying an end-to-end payroll service for your employees internationally once again I believe is another big um procedure again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely key to success success of organizations and minimizing the number of tools platforms and savings account they need for their Worldwide 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 thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I do not believe 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 simple as possible for everybody that's involved in those procedures and also so imagine sorry I'm just I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting job attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to browse them and really see what was going on and sort of try to return to everybody so proceeding appearance why do business select to primary separate bank accounts there are organizations out there doing precisely this for particular nations and I have actually operated in an organization or lots of organizations doing exactly that I can say it doesn't always feel effective and it does create more work I know we're not intentionally doing that we're not developing extra work for any person where we don't have 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 amount that we are I think lots of reasons one is it's the standard I believe individuals have actually got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just 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 sort of do it so I think there's a range I think this is a process that requires looking at it needs altering however eventually individuals are really stuck with what they recognize
with ideal um change is a hard thing all of us do not like change um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having keeping numerous checking account but there's a substantial quantity of intricacy chooses establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big but I think the sincere response is change um individuals have not been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is understanding you understand and there is an element of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or so there is a lot to keep an eye on and this technique does posture a number of obstacles um so Johnny could you tell us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change 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 gotten another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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