Find out more about Papaya Global Help Termination Payroll ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This supplies us with a protected and trusted technique of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Portal
Workers have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business use competitive benefits packages to international workers despite the number of employees in the company. The company can set up health insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the need to source regional advantages suppliers in every nation, produce local accounts and have a minimum variety of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per area, total work expenses per cycle and much more.
Internationally, I have shown leadership and strategic competence in assisting large-scale populations of over 100,000 staff members across 170 nations. Currently, I am responsible for managing payroll strategies, as mentioned by Mark. My role involves managing and establishing 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 services supplier.
business to make the time 100 list for most influential business in the world we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending on where you are in the world it's lovely to fulfill you and thank you very much 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 industry for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the provider side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll kind 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 kind of like see where everyone originates 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 very really gloomy and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll also review a wrap-up which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being more and more typical and handling them becomes a growing number of complex International organizations are wanting to discover Solutions and brand-new methods to improve processes particularly from a payroll and cross-border payment perspective lots of companies preserve different bank account just for payroll while some have numerous accounts in different nations does it make sense for companies to preserve different savings account in some cases in different nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international business streamline the episode complex procedures of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient 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 large numbers they add additional intricacy the global Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the traditional payroll model there's frequently an overwhelming number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely very fundamental there's no genuine consistency structure we're living in a period 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 give you an idea of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more a business spends on international payroll the less of a picture they see a lack of visibility also reaches payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the deal almost half of worldwide companies have expressed 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 because of time reporting bad HCM data information entry mistakes inadequately communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they depend on the essential numerous procedures 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 organization 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 does not need to be included right and what does
it need to be considered there's differing Bank details 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 need to pay from the client's own in-country account so there's complexity anywhere you look best ultimately constructing a knowledge base is absolutely important however everywhere you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is enabling us to kind of progress with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and financing groups work better together than ever um I'm constantly amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate 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 often split and cut up um eventually 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 also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to sort of the level of intricacy there's a growing number of advantages being organ or being offered by organizations throughout the world so again you're simply wanting to include increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or real tough type of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of years I would certainly say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and a period that you understand that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single biggest liability that any business has from a cost point of view from an impact viewpoint on employees it is absolutely crucial that it's done correctly and on time so what we suggest 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 destructive result on individuals's wellness and numerous other aspects if people aren't paid uh I've always been impressed coming into this Market type of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only see when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's viewed externally as well. For that reason, it is important to make sure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Using the first International Payments first payroll payment service is a terrific initial action towards offering a detailed payroll solution for staff members worldwide. Standardization, international processes, and reducing the variety of tools, platforms, and checking account essential for worldwide payroll are crucial factors in attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway 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 simple as possible for everybody that's associated with those processes and likewise so imagine sorry I'm simply I was just gon na say think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting 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 require days of the week to attempt to browse them and really see what was going on and sort of try to return to everybody so moving on look why do companies select to main different checking account there are businesses out there doing exactly this for specific countries and I have actually operated in a service or numerous businesses doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't need to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you believe 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 think people have got so utilized to we require a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a range I think this is a process that needs taking a look at it needs changing but ultimately people are really stuck with what they're familiar
with right um change is a challenging thing all of us don't like change um so I think it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having maintaining multiple checking account however there's a huge amount of complexity goes with setting up a checking account keeping 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 but I believe the sincere response is modification um individuals haven't had the ability to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a savings account I believe you have actually hit the nail on the head I believe 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 reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might almost be figured out to be the next Century approximately there is a lot to track and this approach does present several difficulties um so Johnny might you tell us about those challenges yeah of course so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International staff members you should have a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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