Find out more about Papaya Global Payroll W2 ... 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 actually acquired a different Chief Financial Officer specifically devoted to handling payments. This offers us with a protected and trustworthy technique of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Employee Website
Staff members have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits packages to international employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional benefits providers in every nation, produce regional accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, overall work expenses distributed per location, total work expenses per cycle and a lot more.
Internationally, I have demonstrated management and tactical expertise in directing large-scale populations of over 100,000 workers throughout 170 countries. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My function involves managing and developing external collaborations, supporting Business clients, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for the majority of influential business in the world we offer payroll payments and workforce management to all staff member types in over 160 nations 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 great afternoon excellent evening depending on where you are in the world it's lovely to satisfy you and thank you very much for your time as Ian stated 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 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I have actually kind of had a variety of different roles on the service provider side and also on the supplier side from a payroll point of view so truly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I really 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 very extremely uninspiring and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling Worldwide payroll why business keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical possession uh we'll also discuss a recap and that should leave his time at the extremely really end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them becomes a growing number of complex International organizations are looking to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment viewpoint numerous organizations maintain different bank account just for payroll while some have multiple accounts in various nations does it make good sense for companies to keep different bank accounts often in various countries it does however just for payroll exists a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business streamline 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 checking account how companies precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most importantly guidelines compliance information security and banking rules then there are the sheer numbers they add additional intricacy the worldwide Labor force is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing around the globe in the standard payroll model there's frequently an overwhelming variety of different systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or very extremely standard there's no real consistency framework we're residing in an era of tech however payroll has 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 just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in global payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction nearly half of international businesses have actually 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 due to time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the data is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they depend on the required numerous processes 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 obstacles organization face when they're paying to staff members or otherwise that's an excellent concern I always throw this back and state what is it what does not need to be included ideal and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is absolutely crucial but all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is permitting us to sort of move on with that it also as well to add to that payroll and finance require to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation 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 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 people wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more important to add to kind of the level of intricacy there's increasingly more benefits being organ or being provided by businesses across the world so again you're just wanting to include more and more payments to this currently complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine challenges or real challenging type of pay uses to play to pay individuals I think yeah I mean 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 works um there are teams doing one part of the job there are teams feeding information into the next function as it were that's actually managing the payment side of things but you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they do not 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 we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from a cost point of view from an effect point of view on employees it is definitely crucial that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant damaging result on individuals's well-being and numerous other elements if individuals aren't paid uh I have actually constantly been amazed coming into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain 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 eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise 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 stuff is definitely important that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment service is an excellent primary step um providing an end-to-end payroll option for your workers worldwide once again I think is another substantial um procedure again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and savings account they require for their Worldwide 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've never ever had a hundred thousand of them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyhow we understand 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 easy as possible for everybody that's associated with those procedures and also so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture getting that many 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 a fascinating job attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and sort of try to return to everybody so carrying on appearance why do business pick to primary separate checking account there are organizations out there doing exactly this for particular nations and I've operated in an organization or many services doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for any person 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 think numerous reasons one is it's the standard I think people have actually got so utilized to we need a new savings 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 believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that people have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a range I think this is a process that needs looking at it needs changing but ultimately individuals are very stuck to what they recognize
with right um change is a hard thing all of us do not like change um so I believe it's simply sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having keeping several bank accounts but there's a big quantity of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is substantial however I believe the truthful response is modification um people haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to track and this method does pose a number of difficulties um so Johnny might you tell us about those challenges yeah obviously 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Art