Find out more about Papaya Global Holiday Scheme ... 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 committed to managing payments. This supplies us with a safe and reliable approach of paying to our 10,000 employees worldwide.}
The innovative global payroll management app improves my payroll process, saving me a considerable amount of time every month. With its user-friendly user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and contractors.
Staff member Portal
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive advantages bundles to international staff members regardless of the variety of employees in the company. The business can set up health insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source regional advantages providers in every nation, produce local accounts and have a minimum variety of workers.
The HR capabilities offered by International HR incorporate different functions such as keeping track of vacation time, ensuring compliance, helping with the procedure of welcoming new workers and bidding goodbye to leaving ones, using a protected online platform for storing workers' documents, and supplying support for work permit procedures in case your workers need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs dispersed per location, total employment expenses per cycle and far more.
Internationally, I have shown management and tactical know-how in guiding large-scale populations of over 100,000 staff members throughout 170 nations. Currently, I am responsible for supervising payroll strategies, as mentioned by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and providing advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
business to make the time 100 list for the majority of influential business on the planet we offer payroll payments and workforce management to all employee key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon excellent night depending on where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually type of had a range of various functions on the company side and also on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everybody another number of uh well among the 30 seconds or two to join we all 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 already just 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 sunlight is it it's not no it's it's drizzling here it's very extremely bleak and I want I was somewhere else 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 looking at the difficulty years of managing Global payroll why business maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a tactical possession uh we'll likewise go over a recap and that needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more typical and managing them becomes a growing number of complex Global companies are wanting to discover Solutions and brand-new methods to improve 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 countries does it make sense for companies to preserve different bank accounts sometimes in various nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business improve the episode complex procedures of
Guaranteeing accurate, effective, and timely payroll payments is a complex difficulty for businesses operating globally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, learn how companies forecast payroll costs to optimize working capital, and discover how enhancing worldwide payroll payments can transform them from a difficult task into a strategic property.
Managing payroll worldwide is a difficult job due to various guidelines, compliance requirements, information security concerns, and banking guidelines. The large number of employees and companies adds to the intricacy, with an estimated 3.5 billion individuals in the worldwide labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Conventional payroll systems typically result in manual procedures, data silos, and a lack of combination, causing inconsistencies and inadequacies. Regardless of living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to supply insights and solutions to simplify and enhance international payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce information in real time that's another number that gives me sleep deprived nights and rather honestly the more a company invests in international payroll the less of a photo they see a lack of exposure also encompasses payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the transaction nearly half of international companies have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the wrong place the average cost of a worldwide information 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 count on the needed multiple procedures systems and partners it is just 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 concern I constantly throw this back and state what is it what does not require to be included right and what does
it need to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the client's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 basic and technology is enabling us to sort of move on with that it likewise as well to add to that payroll and finance need to work closer together um with differing Bank Account Details varying banking requirements and setup processes is definitely vital that payroll and financing teams work better together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation 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 process it's the point of information collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more important to contribute to sort of the level of complexity there's more and more benefits being organ or being provided by businesses across the world so once again you're simply aiming to add more and more payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I make certain however have you got any experience in kind of real obstacles or real difficult kind of pay uses to play to pay people I believe yeah I indicate over the last well yeah a couple of decades I would certainly say that the larger a company 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 teams feeding information into the next function as it were that's actually handling 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 require to produce extra handoffs while doing sos that we run in they just make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an age that you understand that we are working in today there is no reason we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single greatest liability that any company has from a cost perspective from an impact viewpoint on employees it is definitely vital that it's done properly and on time so what we indicate 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 impact on people's wellness and lots of other aspects if people aren't paid uh I've constantly been impressed entering into this Market kind of the last five to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such a crucial cycle we all become aware of it when it goes wrong everybody jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the first Worldwide Payments very first payroll payment option is an excellent first step um supplying an end-to-end payroll option for your staff members worldwide once again I believe is another big um procedure once again aligning and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of services and decreasing the variety of tools platforms and bank accounts they need 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the complaints where things have not gone quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how crucial 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 easy as possible for everyone that's associated with those procedures and likewise so envision sorry I'm simply I was simply gon na state think of the amount of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're talking about hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of shot to get back to everybody so moving on look why do business select to main different savings account there are services out there doing exactly this for specific nations and I've operated in a company or lots of organizations doing precisely that I can state it doesn't constantly feel effective and it does develop more work I understand we're not intentionally doing that we're not developing additional work for any person where we don't have to and anybody that's managing that procedure I 'd be interested to hear your ideas 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 believe individuals have actually got so used to we need a brand-new checking account we open an entity and rightly so you require 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 norm the people have adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to sort of do it so I think there's a range I think this is a procedure that requires taking a look at it needs altering but eventually people are really stuck to what they recognize
with best um change is a difficult thing all of us don't like modification um so I think it's just type of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand obviously the advantages of having keeping several bank accounts but there's a substantial amount of complexity goes with establishing a checking account maintaining it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is huge however I believe the sincere answer is modification um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to change however we've always 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 practically be determined to be the next Century approximately there is a lot to monitor and this approach does pose a number of obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has gotten another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your achievements.
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