Find out more about Can Papaya Global ... 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 particularly committed to managing payments. This offers us with a secure and dependable method of paying to our 10,000 employees worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and contractors
The Staff member Portal supplies employees with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in different languages.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to global workers no matter the variety of workers in the company. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source local benefits suppliers in every nation, create regional accounts and have a minimum variety of employees.
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 permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment costs distributed per location, total employment expenses per cycle and much more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across the business handling and structure external relationships supporting Enterprise customers and solutions as well as acting as a consultant for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent companies worldwide we offer payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon great night depending upon where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I've kind of had a range of different functions on the service provider side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really 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 raining here it's extremely very dreary and I want I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why companies preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll also go over a recap and that should leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more typical and managing them becomes more and more complicated International companies are looking to discover Solutions and new methods to enhance procedures especially from a payroll and cross-border payment perspective numerous organizations maintain different checking account just for payroll while some have multiple accounts in various nations does it make sense for companies to preserve different bank accounts often in various countries it does but just for payroll exists a better method what function do virtual accounts and digital wallets likewise called virtual wallets play in assisting international companies streamline the episode complex procedures of
making payroll payments properly effectively securely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be hard in sufficient in one nation but when you're doing it globally it's next level and Beyond it becomes complicated for a range of factors most importantly guidelines compliance data security and banking guidelines then there are the large numbers they include further complexity the international Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll model there's often a frustrating variety of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in large quantities and or very extremely standard there's no genuine consistency framework 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 frequently with pen and paper and that just blows my mind whenever I I believe
about it to give you an idea 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 offers me sleepless nights and rather honestly the more an organization invests in worldwide payroll the less of a picture they see a lack of presence likewise reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of worldwide organizations have actually expressed 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 poor HCM information data entry mistakes poorly interacted hires and terminations along with absence management and system setups and after that when you round everything off and the information is shipped to the incorrect place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run efficiently if they rely on the required 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 obstacles service face when they're paying to workers or otherwise that's an excellent concern I always throw this back and say what is it what doesn't require to be included ideal and what does
it need to be considered there's varying Bank details 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 need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they resemble incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely basic and technology 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 varying banking requirements and setup processes is definitely vital that payroll and financing groups work more detailed together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry 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 data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more essential to add to kind of the level of complexity there's increasingly more advantages being organ or being provided by organizations throughout the world so once again you're simply wanting to add more and more payments to this already intricate landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real difficulties or real difficult type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely say that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding details into the next function as it were that's in fact managing the payment side of things but you understand in in my opinion and my experience that does not necessarily require to be the case you know long gone are the times where we need to develop extra handoffs at the same times that we run in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and a period that you know that we are operating in today there is no reason that we are still making this as tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any service has from an expense viewpoint from an effect point of view on workers it is definitely important that it's done correctly and on time so what we imply 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 detrimental result on people's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been astonished coming into this Market type of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just notice when things fail. Nevertheless, when things go right, it's seen as just a routine job. This is how it's viewed externally too. For that reason, it is important to ensure that tasks like Wi-Fi Worldwide and other vital matters are done correctly. Utilizing the very first International Payments first payroll payment option is an excellent initial action towards offering a comprehensive payroll solution for employees worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few problems when things do not go as prepared. Ultimately, we don't do it for the thankfulness.
anyhow we understand how how crucial 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 simple as possible for everyone that's associated with those procedures and also so think of sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions picture getting that numerous thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of shot to return to everyone so moving on appearance why do business choose to primary separate checking account there are organizations out there doing exactly this for specific nations and I've worked in a business or many businesses doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not 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 think lots of factors one is it's the requirement I think people have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a range I think this is a procedure that needs taking a look at it requires changing however ultimately people are extremely stuck to what they're familiar
with best um modification is a hard thing all of us do not like change um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend clearly the advantages of having maintaining numerous bank accounts but there's a huge amount of complexity opts for establishing a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for individual people so the intricacy is huge but I believe the sincere response is change um individuals haven't been able to change or haven't had always the understanding to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we have actually always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on 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 method does position numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a variety right there is so
I just recently made a modification 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 gained another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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