Find out more about Papaya Global Payroll Llc ... 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 gotten a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and secure and trusted technique of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
Worker Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax declarations and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits bundles to worldwide employees no matter the number of staff members in the company. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while getting rid of the requirement to source local benefits providers in every nation, create regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment costs dispersed per location, total employment costs per cycle and much more.
Worldwide, I have demonstrated management and strategic competence in directing large-scale populations of over 100,000 workers across 170 countries. Currently, I are accountable for overseeing payroll methods, as pointed out by Mark. My function includes managing and developing external partnerships, supporting Business clients, and offering advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
As a worldwide company, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a pleasure to fulfill you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment solutions for the past 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of different roles on the company side and likewise on the supplier side from a payroll perspective so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite interesting and I can see it going on already simply 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 definitely not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I wish I was somewhere else at this moment in time fine so let's start our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic property uh we'll also review a wrap-up which should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them ends up being increasingly more complicated Worldwide companies are wanting to find Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint numerous companies keep separate savings account just for payroll while some have multiple accounts in different nations does it make sense for companies to keep different bank accounts often in various nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international companies streamline the episode complex processes of
making payroll payments accurately effectively safely 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 companies precisely forecast their payroll costs to increase working capital and how streamlining Global 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 internationally it's next level and Beyond it ends up being intricate for a range of factors most significantly regulations compliance data security and banking guidelines then there are the large numbers they include additional complexity the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing worldwide in the standard payroll design there's frequently an overwhelming number of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really extremely fundamental there's no real consistency framework 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 typically with pen and paper which just blows my mind whenever I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of visibility also encompasses payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide organizations have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry errors poorly interacted hires and terminations as well as lack management and system setups and after that when you round it all off and the information is delivered to the wrong place the average cost of a worldwide 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 do not run smoothly if they depend on the essential several 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 difficulties service face when they're making payments to employees or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be considered 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 capabilities 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 intricacy wherever you look ideal ultimately developing a knowledge base is definitely crucial but all over you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely essential and innovation is enabling us to kind of move forward with that it also too to add to that payroll and finance require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is absolutely vital that payroll and finance teams work more detailed together than ever um I'm always amazed when people say I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation 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 often split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being increasingly more crucial to contribute to type of the level of complexity there's increasingly more benefits being organ or being offered by organizations throughout the world so once again you're just aiming to include more and more payments to this currently intricate landscape so if you kind 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 genuine obstacles or real difficult kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a couple of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things but you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an impact viewpoint on employees it is absolutely critical that it's done properly and on time so what we indicate 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 detrimental effect on people's wellness and numerous other elements if individuals aren't paid uh I've always been amazed entering into this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone 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 workers or not um but eventually payroll is such an important cycle we all become aware of it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's just a tick box exercise 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 absolutely crucial that all of this things is done correctly so leveraging the very first International Payments first payroll payment option is an excellent primary step um supplying an end-to-end payroll solution for your employees globally again I believe is another substantial um process once again lining up and ensuring you have standardization Global processes all of those things are absolutely key to success success of services and reducing the variety of tools platforms and checking account they need for their Global 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 have actually never had a hundred countless them within a payroll cycle do not anticipate 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 quite where they're indicated to be um I do not believe any of us are actually doing that for for the thanks
anyway we understand how how important 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 easy as possible for everybody that's involved in those processes and likewise so imagine sorry I'm just I was just gon na state think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about numerous thousands possibly Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but 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 look through them and really see what was going on and kind of try to return to everybody so proceeding appearance why do business pick to main separate checking account there are companies out there doing exactly this for specific nations and I've worked in a business or numerous businesses doing precisely that I can state it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not creating extra work for anyone where we don't have to and any person that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I think individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you need it for payroll purposes however 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 actually adopted and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and many other ways um to to kind of do it so I think there's a variety I think this is a procedure that needs taking a look at it needs changing but ultimately individuals are really stuck with what they're familiar
with best um change is a hard thing we all don't like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving several savings account however there's a substantial amount of complexity goes with setting up a savings account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is big however I think the honest response is modification um individuals haven't had the ability to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe 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 reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep track of and this method does pose numerous challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced capability, I have effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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