Find out more about Papaya Global Pros And Cons ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, conserving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
The Employee Website supplies staff members with the capability to access and view essential documents such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to worldwide staff members regardless of the number of employees in the company. The company can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the need to source local benefits companies in every nation, produce local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work costs dispersed per place, overall work costs per cycle and much more.
Globally, I have actually shown leadership and tactical knowledge in guiding massive populations of over 100,000 staff members throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as pointed out by Mark. My function involves handling and developing 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 solutions supplier.
company to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon excellent evening depending on where you remain in the world it's charming to fulfill 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 remained in the payments market for over ten years and particularly working on the payroll and payment sector for over 7 years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and chose to sort 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 functions on the supplier side and likewise on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly 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 raining here it's really really uninspiring and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business maintain different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a strategic property uh we'll likewise go over a recap which must leave his time at the very very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them ends up being increasingly more intricate International organizations are aiming to discover Solutions and brand-new ways to simplify procedures especially from a payroll and cross-border payment perspective lots of companies keep different checking account just for payroll while some have several accounts in different countries does it make good sense for business to maintain different checking account sometimes in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies improve the episode complex procedures of
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately forecast their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in enough in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of reasons most importantly guidelines compliance data security and banking rules then there are the large numbers they include additional complexity the worldwide Workforce is presently three 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 factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll model there's frequently an overwhelming variety of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in large quantities and or very extremely basic there's no real consistency structure we're residing in a period of tech however 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 offer you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force information in real time that's another number that offers me sleep deprived nights and rather honestly the more a company spends on international payroll the less of an image they see an absence of presence also reaches payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal nearly half of worldwide companies have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM information data entry errors poorly communicated hires and terminations as well as absence management and system setups and then when you round everything off and the information is delivered to the incorrect place the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world payroll and payments don't run efficiently if they count on the necessary multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges company face when they're paying to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't 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 amount of time 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 consumer's own in-country account so there's intricacy wherever you look right ultimately building a knowledge base is absolutely vital however all over you look with payroll payment they are like super payments no if but some babies 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 think there's now a bit more recognition that payroll payments are absolutely basic and technology is enabling us to kind of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with differing Checking account Details differing banking requirements and setup procedures is definitely necessary that payroll and financing teams work closer together than ever um I'm always surprised when people state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are but 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 complexity there's more and more benefits being organ or being provided by companies throughout the world so once again you're simply aiming to add 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'm sure but have you got any experience in kind of genuine challenges or real difficult type of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of decades I would definitely state that the larger a service 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 info into the next function as it were that's really handling the payment side of things however 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 need to produce extra handoffs in the processes 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 era that you know that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single greatest liability that any business has from a cost point of view from an impact viewpoint on workers it is absolutely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest damaging result on people's well-being and lots of other factors if individuals aren't paid uh I've always been astonished entering into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle all of us find out about it when it goes wrong everyone 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 stuff is absolutely essential that all of this things is done correctly so leveraging the very first Global Payments very first payroll payment option is an excellent primary step um providing an end-to-end payroll solution for your employees worldwide again I think is another substantial um process again aligning and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of businesses and minimizing the number of tools platforms and bank accounts they require 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've never ever had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten 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 don't think any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 simple as possible for everyone that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to check out them and really see what was going on and type of try to get back to everybody so moving on appearance why do business choose to main different bank accounts there are services out there doing exactly this for particular countries and I have actually operated in a service or lots of organizations 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 additional work for anyone where we do not need to and any person that's handling 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 amount that we are I believe lots of reasons one is it's the standard I think people have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it requires changing but eventually people are very stuck to what they recognize
with right um change is a difficult thing we all don't like change um so I think it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping numerous checking account but there's a huge amount of intricacy opts for establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is substantial however I think the honest answer is change um people have not been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually 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 know what could practically be determined to be the next Century or two there is a lot to keep an eye on and this approach does pose a number of challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a variety right there is so
I recently made a modification to our Enterprise 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 acquired another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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