Find out more about Papaya Global Payroll Change ... We now have the ability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and reliable approach of making payments to our 10,000 workers worldwide.}
The innovative worldwide payroll management app streamlines my payroll procedure, conserving me a substantial amount of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Worker Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and work documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global employees no matter the number of workers in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, produce regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work costs dispersed per area, overall work costs per cycle and a lot more.
Worldwide, I have demonstrated management and tactical knowledge in assisting massive populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for overseeing payroll strategies, as discussed by Mark. My role includes managing and developing external partnerships, supporting Enterprise clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a worldwide company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your valuable 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 market, I have focused on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually type of had a range of various functions on the provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll just give everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually 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 drizzling here it's really really dreary and I wish I was somewhere else at this moment in time alright so let's start our agenda for today is as follows um we are going to be looking at the challenge years of handling Worldwide payroll why business keep separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya Global payroll payments as a tactical asset uh we'll likewise review a recap and that ought to leave his time at the very very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become more and more common and handling them ends up being increasingly more intricate Global organizations are seeking to find Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment standpoint lots of organizations preserve separate bank account just for payroll while some have several accounts in various nations does it make good sense for companies to maintain separate savings account in some cases in various nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business simplify the episode complex processes of
Ensuring precise, effective, and timely payroll payments is a complex difficulty for organizations running globally. Join us for a webinar to explore the advantages and downsides of payroll wallets versus payroll bank accounts, discover how companies forecast payroll costs to optimize working capital, and discover how streamlining global payroll payments can transform them from a troublesome job into a tactical possession.
Handling payroll internationally is a complicated job due to numerous regulations, compliance requirements, information security concerns, and banking rules. The sheer variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the international labor force, 500 countless whom remain in Africa, and 230 million businesses worldwide.
Standard payroll systems typically result in manual processes, data silos, and a lack of combination, leading to disparities and inefficiencies. Despite residing in an age of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, frequently using pen and paper. This webinar aims to offer insights and solutions to simplify and optimize worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more an organization invests in international payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of global businesses have revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors poorly communicated hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the typical cost of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the needed numerous procedures systems and partners it is simply 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 employees or otherwise that's a great question I always toss this back and say what is it what doesn't need to be consisted of right and what does
it require to be thought of there's differing 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 any place you look best ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they are like super payments no if but some children 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 think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to type of move on with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely necessary that payroll and finance teams work closer together than ever um I'm always astonished when people say I've divided 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 a market accept that why our payroll and payments so frequently 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 people anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being increasingly more important to add to sort of the level of complexity there's increasingly more benefits being organ or being used by organizations across the world so again you're just looking to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine obstacles or real tough kind of pay utilizes to play to pay individuals I believe yeah I imply over the last well yeah a number of decades I would definitely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding details into the next function as it were that's in fact handling the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any service has from an expense perspective from an effect point of view on employees it is absolutely vital that it's done correctly and on time so what we indicate 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 harmful effect on people's wellness and lots of other elements if people aren't paid uh I have actually always been surprised coming into this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I believe 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 essential that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is a great first step um providing an end-to-end payroll option for your workers worldwide again I think is another huge um process once again lining up and ensuring you have standardization International processes all of those things are absolutely key to success success of organizations and lowering the number of tools platforms and bank accounts they require for their Global 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 have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone rather where they're meant to be um I do not believe any of us are really doing that for for the thanks
anyway we understand how how important 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 easy as possible for everyone that's involved in those processes and likewise so think of sorry I'm just I was just gon na state imagine 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 discussing hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and really see what was going on and kind of try to return to everybody so moving on appearance why do business choose to primary separate bank accounts there are businesses out there doing precisely this for particular nations and I've operated in a service or numerous businesses doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not producing additional work for anyone where we don't need to and any person that's managing 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 quantity that we are I believe lots of factors one is it's the requirement I think individuals have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked 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 needs altering but ultimately individuals are very stuck to what they're familiar
with best um change is a difficult thing all of us do not like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend certainly the advantages of having preserving numerous bank accounts however there's a huge amount of intricacy chooses setting up a checking account keeping it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private people so the intricacy is huge however I believe the honest response is change um individuals haven't been able to alter or have not had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of proceeding and moving into you understand 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 posture a number of obstacles um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I just did you changed our Business 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 Global staff members you are worthy of a corner workplace with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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