Find out more about Papaya Global Vs ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to handling payments. This provides us with a secure and reliable technique of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll procedure, saving me a considerable amount of time each month. With its easy to use user interface, I have access to a single dashboard that effectively manages my payroll, EOR, and professionals.
Employee Website
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment documents. The portal is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to global employees no matter the variety of employees in the business. The business can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the requirement to source regional advantages companies in every country, produce local accounts and have a minimum variety of staff members.
The HR capabilities supplied by International HR encompass various functions such as monitoring getaway time, ensuring compliance, helping with the process of inviting brand-new workers and bidding goodbye to departing ones, using a protected online platform for saving workers' documents, and offering assistance for work permit treatments in case your employees need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, overall work costs distributed per area, overall work expenses per cycle and far more.
environments around the world I provided leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work across business handling and building external relationships supporting Business clients and options as well as functioning as a consultant for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for a lot of influential companies worldwide we provide payroll payments and workforce management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent night depending on where you remain 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 10 years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually kind of had a variety of different functions on the company side and likewise on the vendor side from a payroll viewpoint so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll simply give everyone another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everybody is um it's nice to to type 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 sunshine is it it's not no it's it's raining here it's really very gloomy and I want I was somewhere else at this moment in time alright 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 companies maintain separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up and that ought to leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them becomes a growing number of intricate International organizations are wanting to find Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment viewpoint lots of organizations preserve separate checking account just for payroll while some have multiple accounts in different countries does it make good sense for business to keep different savings account sometimes in various nations it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments properly effectively firmly and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it becomes intricate for a variety of factors most notably policies compliance data security and banking rules then there are the large numbers they include additional intricacy the international Labor force is currently 3 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 presently 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 an overwhelming number of different systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in large quantities and or really really basic 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 often with pen and paper and that just blows my mind whenever 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 say they have Workforce information in real time that's another number that provides me sleepless nights and quite frankly the more an organization spends on worldwide payroll the less of an image they see a lack of exposure likewise reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international services have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are due to time reporting poor HCM data information entry errors badly communicated hires and terminations along with absence management and system setups and after that when you round everything off and the data is shipped to the incorrect location the average cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the required multiple processes systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles business face when they're paying to workers or otherwise that's a great question I constantly toss this back and state what is it what does not require to be consisted of best and what does
it require 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 time frames there's payment abilities 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 complexity any place you look ideal ultimately developing a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if but some infants 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 recognition that payroll payments are absolutely essential and innovation is allowing us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically 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 wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to sort of the level of complexity there's a growing number of advantages being organ or being offered by organizations throughout the world so once again you're just looking to add more and more payments to this currently complex landscape so if you type of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of real challenges or real tough sort of pay uses to play to pay people I believe yeah I imply over the last well yeah a number of decades I would certainly say that the bigger an organization 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 info into the next function as it were that's in fact handling the payment side of things but you know 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 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 challenging as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact perspective on staff members it is absolutely critical 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 greatest detrimental effect on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been amazed entering into this Market type of the last five to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and individuals only see when things fail. Nevertheless, when things go right, it's viewed as simply a regular job. This is how it's viewed externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Using the first Global Payments very first payroll payment service is a terrific preliminary action towards offering a detailed payroll option for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and bank accounts needed for worldwide payroll are key consider accomplishing service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a few grievances when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how important a role 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 everybody that's involved in those processes and likewise so picture sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting to clean all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and type of try to get back to everybody so moving on appearance why do companies choose to primary separate savings account there are services out there doing precisely this for specific nations and I have actually operated in a company or lots of businesses doing exactly that I can state it does not constantly feel efficient and it does create more work I know we're not intentionally doing that we're not creating additional work for anyone where we don't have to and anybody that's managing that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous reasons one is it's the standard I believe individuals have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced 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 sort of do it so I believe there's a range I think this is a procedure that needs looking at it needs altering but ultimately people are really stuck with what they recognize
with ideal um change is a hard thing all of us don't like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend obviously the advantages of having keeping numerous bank accounts however there's a substantial quantity of intricacy opts for setting up a savings account keeping it guaranteeing it can send out International transfers guaranteeing it's set up with the ideal user accesses for specific people so the intricacy is big but I think the truthful answer is change um people have not been able to change or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to alter however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you know what could nearly be figured out to be the next Century or two there is a lot to monitor and this technique does posture several challenges um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually acquired another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your devotion to mastering global 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.
Papaya Global Bangalore Office Location