Find out more about Papaya Global Payroll Orange Theory ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This supplies us with a secure and reliable technique of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
The Worker Portal supplies staff members with the ability to access and view important documents such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to worldwide staff members despite the variety of workers in the business. The business can set up health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers require work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total work costs dispersed per place, total employment expenses per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work across the business managing and structure external relationships supporting Business customers and solutions along with serving as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to staff members in more than 160 nations. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to fulfill you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have actually focused on payroll and payment services for the past seven years. The intricacies and challenges of this field have constantly captivated me.
payroll payments and decided to type of make a genuine go at that over the last five or six years where I've kind of had a range of different roles on the provider side and likewise on the supplier side from a payroll point of view so really looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today definitely 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 somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why companies maintain different
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll also go over a wrap-up which must leave his time at the really extremely 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 Worldwide workforces end up being increasingly more typical and handling them becomes a growing number of intricate Worldwide organizations are looking to find Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment viewpoint lots of organizations keep different savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to preserve different bank accounts in some cases in different countries it does however just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business enhance the episode complex processes of
making payroll payments properly efficiently securely and on time during this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll checking account how business accurately anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in adequate in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of factors most significantly policies compliance data security and banking guidelines then there are the sheer numbers they include more complexity the global Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the traditional payroll model there's frequently an overwhelming number of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large quantities and or extremely very basic there's no real consistency structure we're residing in a period of tech but payroll has been sluggish 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 believe
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 information in real time that's another number that gives me sleep deprived nights and rather frankly the more an organization spends on international payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of global companies have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is shipped to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they rely on the required numerous procedures 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 difficulties company face when they're paying to staff members or otherwise that's an excellent concern I constantly throw this back and state what is it what doesn't require to be consisted of right and what does
it require to be considered there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 intricacy any place you look best ultimately building a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is permitting us to type of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup processes is definitely necessary that payroll and financing groups work more detailed together than ever um I'm constantly surprised when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more essential to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being provided by businesses throughout the world so once again you're simply aiming to include more and more payments to this currently complicated landscape so if you sort of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of genuine challenges or genuine tough sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups 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 however you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are operating in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from a cost viewpoint from an effect point of view on workers it is definitely critical that it's done properly and on time so what we imply 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 destructive impact on people's wellness and numerous other elements if people aren't paid uh I've always been impressed coming into this Market sort of the last five to 10 years is how little thanks the
payroll team get um so I'm not sure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everybody 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 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 correctly so leveraging the first Worldwide Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll solution for your workers internationally once again I think is another substantial um procedure again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of services 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've never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're suggested 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 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 associated with those processes and also so imagine sorry I'm just I was just gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing numerous thousands possibly Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be a fascinating job trying 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 kind of try to return to everyone so moving on look why do business pick to main different bank accounts there are services out there doing exactly this for particular countries and I have actually worked in an organization or lots of services doing precisely that I can state it doesn't constantly feel effective and it does produce more work I understand we're not intentionally doing that we're not developing extra work for anybody where we don't have to and anybody 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 lots of reasons one is it's the requirement I believe people have actually got so used to we require a new checking 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 standard individuals have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other methods um to to kind of do it so I believe there's a range I think this is a procedure that needs taking a look at it needs changing however ultimately people are really stuck with what they're familiar
with best um modification is a tough thing all of us don't like modification um so I believe it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having maintaining numerous bank accounts however there's a big quantity of intricacy opts for setting up a bank account keeping it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is substantial but I think the sincere response is modification um people have not had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century approximately there is a lot to monitor and this method does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a range right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this improved capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your achievements.
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