Find out more about Papaya Global Hcm Cloud Connector ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and reputable approach of making payments to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Website
Employees have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business use competitive benefits packages to worldwide employees regardless of the number of workers in the company. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every nation, create local accounts and have a minimum number of employees.
The HR abilities provided by International HR incorporate different functions such as keeping track of trip time, making sure compliance, assisting in the process of inviting new workers and bidding farewell to departing ones, using a safe and secure online platform for storing workers' files, and supplying assistance for work permit procedures in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce variety, total work costs distributed per location, total employment expenses per cycle and a lot more.
environments across the globe I provided management and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business handling and structure external relationships supporting Business clients and solutions as well as serving as an advisor for those of you that do not 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 in the world we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning excellent afternoon good night depending on where you are in the world it's lovely to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or six years where I've type of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well among the 30 seconds or so to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everyone originates 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 raining here it's very very dreary and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business keep separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for global organizations with dispersed and remote labor forces, as it streamlines the complicated process of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a range of factors most importantly policies compliance information security and banking guidelines then there are the sheer numbers they include more 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 further 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or very very fundamental there's no real consistency structure we're living in a period of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a service invests in international payroll the less of a picture they see a lack of presence likewise encompasses payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the transaction nearly half of international services 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 information entry errors inadequately interacted hires and terminations in addition to absence management and system setups and after that when you round it all off and the data is delivered to the wrong place the average cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the necessary several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what does not require to be included ideal and what does
it require to be thought of there's differing 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 need to pay from the consumer's own in-country account so there's intricacy any place you look right ultimately building a knowledge base is absolutely critical however all over you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and technology is permitting us to type of progress with that it likewise too to contribute to that payroll and financing need to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely important that payroll and financing teams work closer 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 does not 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world positions a high worth on wellness and the payment landscape is becoming increasingly complex. Services are continuously presenting brand-new advantages and payment choices, which adds to the overall intricacy. Big corporations frequently divide their payroll and payment processing into different groups, which can lead to inadequacies and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically sophisticated era, there's no reason for preserving cumbersome treatments. Payroll, the business's greatest expenditure, need to be processed properly and on time. Even slight delays can negatively affect workers' well-being and have far-reaching effects. For that reason, it's crucial to prioritize accurate and prompt payments.
payroll team get um so I'm uncertain anyone on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle we all find out about it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely essential that all of this things is done properly so leveraging the very first Worldwide Payments very first payroll payment option is an excellent first step um offering an end-to-end payroll option for your workers worldwide once again I believe is another big um process again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and minimizing the variety of tools platforms and checking account they require for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred thousand of 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 problems where things have not gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyway we understand how how essential 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 easy as possible for everyone that's involved in those processes and likewise so envision sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting job trying to clean up 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 require days of the week to attempt to check out them and in fact see what was going on and kind of shot to return to everybody so moving on look why do companies pick to main different bank accounts there are services out there doing precisely this for particular countries and I have actually worked in an organization or numerous businesses doing precisely that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for anybody where we do not have to and anyone 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 believe numerous factors one is it's the standard I think individuals have actually got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I think this is a procedure that needs taking a look at it requires changing however eventually people are very stuck with what they're familiar
with right um modification is a challenging thing all of us don't like change um so I think 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 stuff um I comprehend undoubtedly the benefits of having preserving numerous bank accounts but there's a substantial quantity of complexity opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual people so the complexity is big but I believe the truthful response is modification um people haven't been able to alter or haven't had necessarily the understanding to truly make that change into alternate Solutions besides opening a savings account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to alter however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might almost be identified to be the next Century approximately there is a lot to keep track of and this technique does present numerous obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I simply did you switched our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide workers you are worthy of a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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