Find out more about Papaya Global Payroll Brochure ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly dedicated to handling payments. This offers us with a secure and trusted method of making payments to our 10,000 staff members worldwide.}
The cutting-edge international payroll management app streamlines my payroll procedure, saving me a considerable quantity of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to international employees regardless of the variety of employees in the company. 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 local advantages providers in every nation, create local accounts and have a minimum variety of staff members.
The HR abilities offered by International HR encompass different functions such as keeping track of getaway time, making sure compliance, assisting in the process of welcoming new staff members and bidding goodbye to leaving ones, providing a safe online platform for keeping workers' documents, and offering support for work permit treatments in case your employees need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce variety, overall employment costs dispersed per location, total employment costs per cycle and far more.
Internationally, I have demonstrated management and tactical expertise in assisting massive populations of over 100,000 employees throughout 170 countries. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My role involves handling and establishing external collaborations, supporting Business clients, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As a global company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and labor force management services to employees in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually concentrated on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last 5 or six years where I have actually kind of had a range of different roles on the supplier side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll type of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone 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 is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's very very dreary and I wish I was elsewhere at this moment in time okay so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya International payroll payments as a tactical asset uh we'll also review a recap and that must leave his time at the very really 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 International workforces become more and more typical and managing them becomes more and more intricate Global companies are seeking to discover Solutions and new ways to improve processes especially from a payroll and cross-border payment viewpoint numerous organizations keep separate checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to preserve separate checking account sometimes in various nations it does however just for payroll is there a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business simplify the episode complex procedures of
making payroll payments precisely effectively safely and on time throughout this webinar we'll walk you through the worldwide 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 enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in adequate in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most significantly guidelines compliance data security and banking rules then there are the large numbers they include further intricacy the worldwide Workforce is currently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 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 worldwide in the conventional payroll model there's often an overwhelming variety of different systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really basic there's no genuine consistency framework we're living 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 simply blows my mind each time I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more a service invests in global payroll the less of an image they see a lack of presence also extends to payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of global companies have 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 poor HCM information data entry mistakes badly communicated hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is delivered to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the needed numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles business face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what does not require to be consisted of ideal and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 consumer's own in-country account so there's complexity anywhere you look best ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble very payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind 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 technology is permitting us to sort of progress with that it likewise also to add to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work better together than ever um I'm always surprised when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so typically 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 anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to add to type of the level of intricacy there's increasingly more benefits being organ or being used by services across the world so once again you're just looking to include increasingly more payments to this already intricate landscape so if you type of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of real challenges or genuine challenging sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would definitely state that the bigger a company 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 details into the next function as it were that's in fact handling the payment side of things but you know in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we run in they just make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and a period that you understand that we are working in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any business has from a cost viewpoint from an impact perspective 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 biggest damaging effect on people's wellness and numerous other aspects if individuals aren't paid uh I've always been astonished entering into this Market sort of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle all of us hear about it when it fails everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the first International Payments very first payroll payment solution is an excellent primary step um supplying an end-to-end payroll solution for your workers worldwide again I think is another big um process again aligning and guaranteeing you have standardization Worldwide processes all of those things are definitely essential to success success of services and decreasing 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 terms of of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial a role 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 everybody that's involved in those processes and also so imagine sorry I'm just I was simply gon na say imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be an intriguing task trying to clean up all those up for sure oh definitely 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 attempt to browse them and actually see what was going on and sort of shot to get back to everybody so proceeding look why do business select to main different bank accounts there are companies out there doing precisely this for particular countries and I've operated in a business or many companies doing exactly that I can state it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not producing additional work for anybody where we do not have to and anyone that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so used to we need a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have adopted and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other methods um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs altering however eventually individuals are really stuck with what they're familiar
with best um change is a difficult thing we all don't like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend undoubtedly the benefits of having maintaining multiple bank accounts but there's a huge amount of complexity opts for setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for specific individuals so the intricacy is substantial however I believe the sincere response is modification um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I believe it is understanding 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 proceeding and moving into you know what could practically be identified to be the next Century or two there is a lot to keep track of and this technique does pose several challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has gotten another CFO, and with this enhanced ability, I have effectively protected payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your achievements.
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