Find out more about Papaya Global Portugal ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reliable approach of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app improves my payroll procedure, conserving me a substantial quantity of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and professionals.
Employee Website
Staff members have access to an Employee Website where they can view their pay slips, wage and tax statements and work files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive advantages bundles to worldwide employees no matter the variety of staff members in the business. The company can set up medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, create regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members require work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per location, overall employment expenses per cycle and much more.
Worldwide, I have demonstrated management and tactical expertise in assisting large-scale populations of over 100,000 staff members throughout 170 countries. Currently, I are accountable for overseeing payroll techniques, as discussed by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a global business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past seven years. The complexities and challenges of this field have always captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or 6 years where I've type of had a variety of various functions on the supplier side and also on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite interesting 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 comes from and I truly 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 gloomy and I want I was elsewhere 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 difficulty years of handling Worldwide payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic asset uh we'll likewise go over a recap and that ought to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more typical and managing them ends up being more and more complex Worldwide organizations are wanting to discover Solutions and brand-new ways to enhance processes specifically from a payroll and cross-border payment perspective numerous companies preserve separate checking account just for payroll while some have several accounts in different nations does it make good sense for business to preserve different savings account often in various countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex procedures of
making payroll payments properly effectively securely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the large numbers they include more intricacy the global Workforce is presently 3 and a half billion people by 2030 it's approximated 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll design there's frequently a frustrating variety of different systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely extremely standard there's no genuine consistency framework we're living in an era 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 typically with pen and paper and that just blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry errors poorly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the information is shipped to the wrong location the average expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they depend on the essential numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's a great question I always toss this back and say what is it what doesn't require to be included ideal and what does
it need to be thought about 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 consumer's own in-country account so there's complexity anywhere you look best eventually developing a knowledge base is definitely vital however everywhere you look with payroll payment they resemble extremely payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and technology is permitting us to kind of move on with that it also also to add to that payroll and finance need to work closer together um with varying Savings account Details differing banking requirements and setup procedures is definitely vital that payroll and finance teams work closer together than ever um I'm always impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being a growing number of crucial to add to sort of the level of intricacy there's a growing number of benefits being organ or being offered by services across the world so once again you're just seeking to add increasingly more payments to this currently complex landscape so if you kind 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 real obstacles or real challenging sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any company has from a cost point of view from an impact perspective on employees it is absolutely crucial that it's done properly and on time so what we imply 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 effect on individuals's wellness and numerous other elements if people aren't paid uh I have actually always been surprised coming into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle all of us become aware of it when it fails 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 deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment option is a terrific initial step um offering an end-to-end payroll solution for your workers worldwide once again I believe is another big um procedure once again aligning and guaranteeing you have standardization Global processes all of those things are definitely crucial to success success of companies and lowering the variety of tools platforms and checking account they need for their International 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things have not gone quite 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 essential 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 involved in those procedures and likewise so envision sorry I'm just I was simply gon na state envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions think of getting that many thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true 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 get back to everyone so moving on appearance why do business select to main separate savings account there are services out there doing precisely this for specific countries and I've worked in a service or lots of services doing precisely that I can state it does not always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating additional work for anybody where we do not have to and any person that's managing 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 quantity that we are I believe numerous reasons one is it's the standard I believe individuals have actually got so used to we need a brand-new checking account we open an entity and rightly so you require 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 standard the people have actually adopted and continue to do over years and years passed by to contribute to that people have actually 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 variety I think this is a process that requires looking at it requires changing but ultimately people are very stuck with what they're familiar
with best um change is a challenging thing all of us don't like change um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having maintaining several savings account but there's a huge quantity of complexity chooses establishing a savings account maintaining it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is big but I think the honest response is change um people have not had the ability to alter or haven't had always the understanding to truly make that change into alternate Solutions other than opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be identified to be the next Century or so there is a lot to keep track of and this technique does posture a number of difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I simply did you changed 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 are worthy of a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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