Find out more about Papaya Global Full-service Payroll ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and secure and reliable approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to a Worker Portal where they can see their pay slips, wage and tax declarations and work documents. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to worldwide workers regardless of the number of staff members in the company. The company can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional advantages suppliers in every country, produce local accounts and have a minimum number of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment costs dispersed per location, total employment costs per cycle and much more.
Globally, I have shown management and tactical know-how in assisting massive populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for supervising payroll methods, as mentioned by Mark. My role includes handling and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
business to make the time 100 list for a lot of influential business in the world we provide payroll payments and workforce management to all worker enters over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon great evening depending on where you are in the world it's charming to satisfy you and thank you quite 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 ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last five or six years where I've type of had a range of different functions on the service provider side and also on the vendor side from a payroll perspective so truly looking forward to this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I actually 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 raining here it's really very bleak and I want I was somewhere else at this moment in time fine so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies preserve different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll likewise discuss a wrap-up which needs to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and managing them becomes a growing number of complicated Worldwide companies are looking to find Solutions and new ways to enhance procedures especially from a payroll and cross-border payment viewpoint many organizations preserve different bank account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve different checking account in some cases in various countries it does however just for payroll exists a better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments properly effectively firmly and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how companies precisely forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most notably guidelines compliance data security and banking guidelines then there are the sheer numbers they include further complexity the global Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 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 around the globe in the traditional payroll design there's typically a frustrating number of different systems resulting in lengthy manual procedures and silos the variety of Combinations could be non-existent in big quantities and or really extremely basic there's no real consistency structure we're living in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a service spends on international payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the information is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 complexity anywhere you look ideal eventually developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble super payments no if however some infants 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 acknowledgment that payroll payments are absolutely basic and innovation is enabling us to kind of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely imperative that payroll and financing teams work more detailed together than ever um I'm constantly impressed when individuals state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals any place they are but also 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 kind of the level of intricacy there's more and more benefits being organ or being used by services across the world so once again you're just aiming to add increasingly more payments to this currently complex landscape so if you sort 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 difficulties or genuine challenging kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a number of years I would definitely state that the bigger 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 in fact managing the payment side of things but you understand in in my viewpoint and my experience that doesn't always require 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 simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you understand that we are working in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact viewpoint on staff members it is absolutely vital that it's done correctly and on time so what we mean 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 detrimental result on individuals's well-being and numerous other factors if people aren't paid uh I have actually constantly been surprised coming into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is an excellent primary step um providing an end-to-end payroll solution for your employees globally again I think is another substantial um procedure once again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of businesses and reducing the variety of tools platforms and savings account they require 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 had a hundred countless 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 haven't gone quite where they're indicated to be um I do not believe any of us are really 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 everyone that's involved in those processes and likewise so imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions envision getting that lots of 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 an intriguing task trying 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 require days of the week to try to look through them and actually see what was going on and kind of try to return to everyone so moving on appearance why do business pick to main separate checking account there are companies out there doing exactly this for particular countries and I've worked in a business or many organizations doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing additional work for anybody where we don't have to and any person that's dealing with 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 amount that we are I think numerous reasons one is it's the standard I believe people have actually got so used to we need a new savings account we open an entity and appropriately so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually adopted and continue to do over years and years passed by to add to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a process that needs taking a look at it requires changing but eventually people are extremely stuck with what they're familiar
with ideal um modification is a challenging thing all of us do not like modification 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 lot of track of things um I understand certainly the benefits of having maintaining numerous checking account but there's a big quantity of complexity opts for establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the intricacy is substantial however I believe the truthful response is change um individuals have not been able to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or two there is a lot to keep an eye on and this technique does position numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I recently made a change to our Business 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 gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
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