Find out more about Papaya Global Poland ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a safe and trusted approach of paying to our 10,000 employees worldwide.}
The innovative international payroll management app enhances my payroll process, saving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
The Staff member Portal provides workers with the ability to access and view essential documents such as pay slips, wage and tax declarations, and employment records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global assists companies use competitive advantages bundles to international staff members no matter the number of workers in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the requirement to source local advantages suppliers in every country, develop regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force diversity, total employment costs distributed per location, total employment costs per cycle and far more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout business handling and structure external relationships supporting Enterprise customers and options in addition to acting as an advisor 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 many prominent companies in the world we offer payroll payments and workforce management to all worker key ins over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good evening depending upon where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually type of had a variety of various functions on the supplier side and also on the vendor side from a payroll viewpoint so truly looking forward to this conversation today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite intriguing 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 sunlight is it it's not no it's it's drizzling here it's very extremely dreary and I wish 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 challenge years of managing Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical possession uh we'll also discuss a wrap-up and that needs to leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being more and more typical and handling them ends up being increasingly more complex Worldwide companies are looking to find Solutions and brand-new methods to streamline processes specifically from a payroll and cross-border payment perspective lots of organizations preserve different checking account just for payroll while some have several accounts in different nations does it make sense for business to preserve separate checking account often in different countries it does but just for payroll exists a better way what role do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies improve the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most significantly policies compliance data security and banking guidelines then there are the sheer numbers they include more complexity the international Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the conventional payroll design there's typically a frustrating variety of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or really really fundamental there's no genuine consistency structure we're residing in a period of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite frankly the more an organization invests in global payroll the less of a photo they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the incorrect location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they rely on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges organization face when they're paying to staff members or otherwise that's a great question I always throw this back and say what is it what doesn't require to be included ideal and what does
it require 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 need to pay from the customer's own in-country account so there's intricacy any place you look ideal eventually developing a knowledge base is definitely crucial however everywhere you look with payroll payment they are like extremely 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 believe there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to kind of move on with that it also also to add to that payroll and finance require to work closer together um with varying Savings account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance groups work more detailed together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split 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 ultimately 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 3rd parties so with the
world we reside in and wellness being more and more crucial to add to sort of the level of complexity there's increasingly more benefits being organ or being offered by companies across the world so again you're simply aiming to add a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine challenges or genuine challenging type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would absolutely state that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to produce extra handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they need to be in in a period of tech and an era that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any company has from an expense point of view from an impact perspective on staff members it is definitely crucial 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 need to be done right it has the greatest damaging impact on people's wellness and numerous other aspects if people aren't paid uh I've constantly been amazed entering this Market type of the last 5 to 10 years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails but when it goes right it's simply a tick box workout 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 vital that all of this things is done properly so leveraging the first Global Payments first payroll payment service is an excellent primary step um offering an end-to-end payroll option for your workers globally again I think is another substantial um process again lining up and guaranteeing you have standardization Global processes all of those things are definitely essential to success success of organizations and lowering the number of tools platforms and bank accounts they require for their Worldwide 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 haven't gone rather where they're suggested to be um I do not think any of us are actually doing that for for the thanks
anyway we understand how how crucial 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 simple 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 picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions imagine getting that many 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 picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and really see what was going on and kind of shot to return to everyone so moving on look why do business select to primary separate bank accounts there are companies out there doing precisely this for particular nations and I've worked in a service or lots of services doing precisely that I can say it does not constantly feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone 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 think 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 believe individuals have actually got so used to we need a new savings 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 think it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I believe this is a process that needs looking at it requires changing however ultimately individuals are really stuck with what they're familiar
with best um change is a difficult thing we all don't like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping numerous savings account however there's a big amount of complexity chooses establishing a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the complexity is big however I think the truthful answer is modification um people have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be identified to be the next Century or two there is a lot to keep an eye on and this method does pose several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a range right there is so
I just 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 actually acquired another CFO, and with this boosted capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
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