Find out more about Papaya Global Pensions Module ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and trusted technique of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Employee Website
Staff members have access to an Employee Portal where they can see their pay slips, wage and tax declarations and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business use competitive benefits packages to global workers no matter the number of employees in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every country, develop regional accounts and have a minimum number of staff members.
The HR abilities provided by Global HR incorporate various functions such as keeping track of vacation time, making sure compliance, helping with the process of inviting brand-new employees and bidding farewell to leaving ones, using a protected online platform for storing employees' documents, and offering assistance for work permit treatments in case your staff members need help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, total employment expenses distributed per location, overall employment costs per cycle and far more.
Internationally, I have actually shown management and tactical proficiency in guiding massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for overseeing payroll strategies, as discussed by Mark. My function includes managing and establishing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services provider.
business to make the time 100 list for the majority of influential business in the world we provide payroll payments and labor force management to all worker enters over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good evening depending upon where you remain in the world it's charming 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 particularly dealing with the payroll and payment sector for over 7 years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually type of had a range of different roles on the provider side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll simply give 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 rather intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everybody originates from and I really do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very dreary and I wish I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya Global payroll payments as a tactical property uh we'll likewise go over a wrap-up which ought to leave his time at the very really end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and managing them ends up being a growing number of intricate International companies are wanting to find Solutions and new methods to streamline processes specifically from a payroll and cross-border payment viewpoint numerous organizations maintain different savings account just for payroll while some have multiple accounts in different nations does it make good sense for business to keep separate checking account often in various countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping international business enhance the episode complex procedures of
Guaranteeing accurate, efficient, and timely payroll payments is a complex challenge for services running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to optimize working capital, and discover how simplifying international payroll payments can transform them from a difficult job into a strategic property.
Handling payroll globally is a difficult job due to various regulations, compliance requirements, information security issues, and banking rules. The large variety of staff members and companies contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 million of whom are in Africa, and 230 million services worldwide.
Conventional payroll systems frequently result in manual processes, data silos, and an absence of combination, resulting in inconsistencies and inefficiencies. Despite residing in an age of technological developments, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to offer insights and options to simplify and enhance worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte just 11 of companies 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 also encompasses payroll payments and inability to precisely track these payments can cause compliance accidents in the last mile of the transaction nearly half of international services have actually expressed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry errors poorly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the information is shipped to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments do not run efficiently if they count on the essential multiple procedures 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 company face when they're making payments to employees or otherwise that's a good concern I always throw this back and state what is it what does not require to be consisted of ideal and what does
it need to be considered there's differing Bank details 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 have to pay from the consumer's own in-country account so there's complexity wherever you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the type 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 essential and innovation is enabling us to sort of progress with that it also too to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work better together than ever um I'm constantly amazed when individuals state I've split payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they divide the payroll payment from calculation I would say no so why do we as an industry accept that why our payroll and payments so frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live 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 organizations throughout the world so once again you're simply aiming to add increasingly more payments to this currently intricate 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 sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of decades 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 teams feeding details into the next function as it were that's really handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we operate in they simply make them more timely they make them less effective and they do not make them what they require to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and rightly as you stated payroll is the single biggest liability that any company has from a cost point of view from an impact point of view on workers it is absolutely critical that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging effect on people's well-being and many other factors if people aren't paid uh I've always been impressed entering into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not sure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment service is a terrific initial step um offering an end-to-end payroll service for your workers worldwide once again I believe is another big um process again aligning and ensuring you have standardization Global processes all of those things are absolutely crucial to success success of companies and reducing the number of tools platforms and savings account they require 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 ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone rather where they're indicated to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 simple as possible for everyone that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would definitely 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 was the case um you 'd need days of the week to try to look through them and in fact see what was going on and type of try to get back to everybody so proceeding look why do companies pick to primary separate bank accounts there are businesses out there doing precisely this for specific nations and I have actually operated in a business or numerous companies doing exactly that I can state it doesn't constantly feel effective and it does create more work I understand we're not deliberately doing that we're not creating extra work for anyone where we do not have to and anyone that's handling that procedure I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous reasons one is it's the requirement I think individuals have got so used to we need a brand-new savings account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm individuals have 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 numerous other methods um to to sort of do it so I believe there's a range I believe this is a procedure that needs looking at it requires altering however eventually individuals are extremely stuck to what they recognize
with ideal um change is a challenging thing all of us do not like modification um so I believe it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having keeping multiple savings account but there's a substantial amount of complexity chooses setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the intricacy is huge but I believe the truthful answer is modification um people haven't had the ability to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep an eye on and this approach does present several difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a variety right there is so
I simply did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International employees you should have a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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