Find out more about Papaya Global Multi User ... 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 acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and reputable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Website where they can view their pay slips, wage and tax statements and work documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive benefits plans to global employees regardless of the number of staff members in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum number of staff members.
The HR abilities provided by Global HR incorporate 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 safe online platform for keeping employees' documents, and offering assistance for work allow procedures in case your workers require help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, overall employment costs dispersed per location, overall work expenses per cycle and a lot more.
Worldwide, I have actually shown management and strategic proficiency in guiding large-scale populations of over 100,000 workers across 170 countries. Presently, I am responsible for supervising payroll methods, as pointed out by Mark. My role includes managing and establishing external partnerships, supporting Business customers, and providing advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
business to make the time 100 list for a lot of prominent companies worldwide we provide payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning excellent afternoon great evening depending on where you are in the world it's beautiful to meet 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 specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty 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 have actually type of had a range of various functions on the supplier side and also on the supplier side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I truly 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 extremely extremely gloomy and I want I was elsewhere 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 companies keep different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya International payroll payments as a tactical possession uh we'll also review a recap and that needs to leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of typical and managing them becomes more and more intricate Global companies are wanting to find Solutions and new methods to enhance procedures particularly from a payroll and cross-border payment standpoint many companies maintain separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to keep different bank accounts in some cases in various countries it does but just for payroll is there a better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments accurately effectively safely and on time during this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how simplifying 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 complex for a range of factors most notably policies compliance information security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Labor force is presently 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 currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the traditional payroll model there's often an overwhelming variety of different systems causing time-consuming manual processes and silos the number of Combinations could be non-existent in large quantities and or really very basic there's no genuine consistency framework we're living 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 which simply blows my mind every time I I think
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 Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more a service invests in international payroll the less of a photo they see a lack of presence likewise reaches payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international companies have actually revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM data data entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round it all off and the information is delivered to the incorrect place the typical cost of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they count on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's an excellent question I always toss this back and say what is it what doesn't require to be included best and what does
it need to be thought about there's varying 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 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 wherever you look ideal eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and innovation is permitting us to kind of move forward with that it likewise too to add to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm constantly surprised when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from estimation 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of crucial to add to sort of the level of intricacy there's more and more advantages being organ or being used by businesses across the world so again you're just looking to include a growing number of payments to this already complex landscape so if you sort 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 tough type of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of years I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are groups feeding info into the next function as it were that's really handling 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 know long gone are the times where we require to produce additional handoffs at the same times that we run in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason why 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 business has from a cost point of view from an impact perspective on employees it is definitely critical 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 result on people's well-being and lots of other aspects if people aren't paid uh I have actually always been amazed entering this Market type of the last five to 10 years is how little thanks the
The payroll team may not have actually been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only see when things fail. However, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Global and other essential matters are done correctly. Using the very first Global Payments very first payroll payment solution is a terrific initial action towards offering an extensive payroll option for staff members worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are essential consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
anyway 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 easy as possible for everybody that's involved in those processes and also so think of sorry I'm just I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions picture getting that numerous 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 definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and actually see what was going on and sort of shot to return to everyone so proceeding appearance why do companies choose to main separate bank accounts there are services out there doing precisely this for particular nations and I have actually operated in a company or lots of services doing precisely that I can state it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not creating extra work for anyone where we do not have to and anyone that's handling that process I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the amount that we are I believe many reasons one is it's the standard I believe individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other methods um to to kind of do it so I think there's a range I think this is a procedure that requires looking at it needs changing however ultimately individuals are extremely stuck with what they recognize
with right um modification is a tough thing all of us do not like change um so I believe it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having keeping several bank accounts however there's a substantial quantity of intricacy opts for establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's established with the right user accesses for specific people so the complexity is substantial however I believe the sincere answer is modification um individuals haven't had the ability to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to change however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to track and this technique does present several challenges um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I just did you changed our Business 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 International staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
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