Find out more about Papaya Global Payroll Part Time ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trustworthy method of making payments to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, saving me a substantial amount of time monthly. With its user-friendly interface, I have access to a single dashboard that effectively manages my payroll, EOR, and specialists.
Employee Portal
Employees have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive advantages packages to international workers despite the number of staff members in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of workers.
The HR abilities provided by Worldwide HR encompass different functions such as keeping track of holiday time, guaranteeing compliance, assisting in the process of welcoming brand-new staff members and bidding farewell to departing ones, providing a safe online platform for keeping workers' documents, and supplying support for work allow treatments in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment expenses distributed per place, total work costs per cycle and a lot more.
Internationally, I have shown management and strategic knowledge in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll methods, as mentioned by Mark. My role includes managing and establishing external partnerships, supporting Enterprise customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your location. It's a satisfaction to meet you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have actually constantly captivated me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I've type of had a variety of various roles on the service 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 everybody all right thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I really do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely really uninspiring and I wish I was somewhere else at this moment in time all right so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business keep separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll also go over a recap which must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them becomes increasingly more complex International companies are wanting to discover Solutions and new methods to simplify processes particularly from a payroll and cross-border payment standpoint numerous companies preserve separate savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to keep different bank accounts often in different nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies simplify the episode complex processes of
Guaranteeing accurate, effective, and prompt payroll payments is a complex challenge for businesses operating internationally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and discover how improving global payroll payments can change them from a troublesome job into a strategic property.
Managing payroll globally is a challenging task due to various policies, compliance requirements, information security issues, and banking guidelines. The sheer variety of employees and organizations contributes to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual procedures, information silos, and a lack of combination, resulting in inconsistencies and inadequacies. Despite living in an era of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar goals to provide insights and options to simplify and optimize worldwide payroll payments.
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses state they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more an organization spends on global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international organizations have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is shipped to the incorrect place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they count on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties organization face when they're paying to workers or otherwise that's a great concern I constantly toss this back and state what is it what does not require to be included right and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 have to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble extremely payments no if however some infants 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 think there's now a bit more recognition that payroll payments are definitely basic and innovation is allowing us to sort of move forward with that it also as well to add to that payroll and financing require to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work better together than ever um I'm always surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from estimation I would say no so why do we as an industry 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 data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to add to sort of the level of complexity there's increasingly more advantages being organ or being used by organizations across the world so once again you're just seeking to include a growing number of payments to this already intricate landscape so if you type 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 difficulties or genuine difficult type of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would absolutely state that the larger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to produce 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 need to be in in an era of tech and an age that you know that we are working in today there is no reason why we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from a cost viewpoint from an effect viewpoint on staff members it is definitely important 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 most significant detrimental effect on people's well-being and numerous other elements if people aren't paid uh I've always been astonished coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this kind 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 employees or not um but eventually payroll is such a crucial cycle all of us hear about 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 consider as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done correctly so leveraging the first Worldwide Payments very first payroll payment service is a terrific primary step um providing an end-to-end payroll service for your workers globally once again I think is another huge um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of businesses and decreasing the number of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless 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 problems where things have not gone quite where they're meant to be um I do not think any of us are really doing that for for the thanks
anyway we know how how crucial a function 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 everybody that's involved in those procedures and likewise so imagine sorry I'm just I was simply gon na state imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions imagine getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and type of shot to return to everybody so moving on look why do business select to main different bank accounts there are businesses out there doing exactly this for particular countries and I've operated in a company or numerous businesses doing precisely that I can state it does not always feel effective and it does develop more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the standard I think people have got so utilized to we need a new checking account we open an entity and appropriately so you require 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 requirement and the standard the people have actually 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 lots of other ways um to to type of do it so I believe there's a variety I believe this is a process that needs looking at it needs altering but eventually people are really stuck to what they're familiar
with right um modification is a difficult thing we all do not like modification um so I think it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the advantages of having keeping multiple savings account but there's a huge amount of complexity chooses establishing a bank account preserving it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual people so the intricacy is big however I think the honest answer is change um individuals haven't been able to alter or haven't had always the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you've hit the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to track and this method does present a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I recently made a change 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 gained another CFO, and with this boosted capability, I have actually successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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