Find out more about Papaya Global Payroll Wheres My Deposit ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to managing payments. This supplies us with a protected and reliable method of making payments to our 10,000 employees worldwide.}
The innovative global payroll management app enhances my payroll procedure, conserving me a considerable amount of time every month. With its easy to use user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Worker Portal
Employees have access to a Staff member Portal where they can view 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.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to worldwide workers despite the number of employees in the company. The business can set up medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source local benefits providers in every country, develop regional accounts and have a minimum variety of workers.
The HR abilities offered by Worldwide HR include different functions such as monitoring holiday time, guaranteeing compliance, helping with the procedure of welcoming new staff members and bidding goodbye to leaving ones, using a protected online platform for keeping employees' files, and providing support for work allow treatments in case your workers require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, overall employment costs dispersed per location, overall work expenses per cycle and far more.
Internationally, I have demonstrated management and strategic proficiency in assisting large-scale populations of over 100,000 workers throughout 170 nations. Currently, I am responsible for overseeing payroll methods, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
As a worldwide business, we are honored to be consisted of on the prestigious Time 100 list of the most influential companies worldwide. We concentrate on providing payroll and labor force management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. 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 concentrated on payroll and payment solutions for the past seven years. The complexities and difficulties of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've type of had a range of different functions on the company side and also on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so to join all of us 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 simply to hear where everyone is um it's nice to to type of like see where everyone 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 really dreary and I wish I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing Worldwide payroll why business keep different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll also discuss a wrap-up which 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 labor forces end up being more and more common and managing them ends up being more and more complicated Global organizations are wanting to find Solutions and new methods to enhance processes specifically from a payroll and cross-border payment perspective many companies maintain different checking account just for payroll while some have numerous accounts in different countries does it make good sense for business to maintain separate bank accounts sometimes in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies simplify the episode complex processes of
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of reasons most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include further complexity the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's typically a frustrating number of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely really fundamental there's no genuine consistency structure we're residing in an age 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 often with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of businesses state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization invests in worldwide payroll the less of an image they see an absence of presence also encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction almost half of international services 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 errors are because of time reporting bad HCM information data entry errors improperly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the data is shipped to the wrong location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money all over the world payroll and payments do not run efficiently if they count on the necessary 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 challenges organization face when they're making payments to employees or otherwise that's a great question I constantly toss this back and state what is it what doesn't need to be included best and what does
it need to be thought of there's varying Bank information 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if but 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 think there's now a bit more recognition that payroll payments are absolutely essential and innovation is permitting us to type of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing groups work closer together than ever um I'm constantly astonished when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 procedure it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of essential to add to kind of the level of complexity there's more and more benefits being organ or being provided by companies across the world so once again you're just seeking to add a growing number of payments to this already complicated 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 real challenges or genuine difficult sort of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would definitely say that the larger a service 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 details into the next function as it were that's in fact handling the payment side of things but 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 extra handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single biggest liability that any organization has from a cost perspective from an effect perspective on staff members it is absolutely vital 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 need to be done right it has the greatest harmful result on people's wellness and many other elements if individuals aren't paid uh I have actually always been impressed entering this Market kind of the last 5 to 10 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 great to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely essential that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment service is an excellent first step um providing an end-to-end payroll solution for your staff members internationally once again I believe is another substantial um procedure once again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of services and decreasing the variety of tools platforms and savings account they require for their Worldwide 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've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential 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 likewise so think of sorry I'm just I was simply gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions picture getting that numerous thank you notes um I indicate 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 all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and kind of try to get back to everyone so proceeding appearance why do business choose to main separate savings account there are organizations out there doing exactly this for specific nations and I've worked in a business or many services doing precisely that I can say it does not always feel efficient and it does develop more work I understand we're not deliberately doing that we're not creating extra work for anybody where we don't have to and anyone that's managing 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 quantity that we are I think many reasons one is it's the standard I believe people have actually got so used to we require a new checking account we open an entity and appropriately so you require 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 standard and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and many other ways um to to kind of do it so I think there's a range I believe this is a process that needs taking a look at it requires altering however ultimately people are really stuck with what they recognize
with right um modification is a challenging thing all of us don't like modification um so I think it's simply type of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand clearly the benefits of having maintaining multiple checking account but there's a big amount of complexity opts for establishing a savings account keeping it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is big but I think the sincere response is change um people have not had the ability to change or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a bank account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've constantly 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 almost be identified to be the next Century approximately there is a lot to monitor and this technique does posture a number of challenges um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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