Find out more about Papaya Global Restore Backup ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to managing payments. This provides us with a safe and trusted technique of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Employees 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 numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive benefits bundles to global employees regardless of the variety of workers in the company. The business can establish medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the need to source regional benefits providers in every country, create regional accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, overall work costs dispersed per area, total work costs per cycle and far more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and structure external relationships supporting Enterprise clients and solutions along with functioning as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very 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 employee key ins over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon excellent evening depending upon where you are in the world it's beautiful to satisfy 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've been in the payments market for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was interested by the intricacy the trouble 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 sort of had a range of various roles on the provider side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days 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 everyone originates from and I really do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's really really uninspiring and I wish I was elsewhere at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve separate
Virtual payroll accounts are an option to standard bank accounts for handling payroll payments. This is especially useful for worldwide organizations with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time during this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll costs 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 difficult in enough in one country however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of factors most notably regulations compliance information security and banking rules then there are the large numbers they add more intricacy the global Labor force is presently three 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 presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll design there's typically an overwhelming number of various systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large amounts and or really very basic there's no genuine consistency structure we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that simply blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force data in real time that's another number that provides me sleep deprived nights and quite frankly the more a company spends on global payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and inability to accurately track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of worldwide services have actually revealed that they do not have the level of standardization they need in their procedures or desire 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 absence management and system setups and after that when you round everything off and the data is shipped to the incorrect place the average expense 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 don't run efficiently if they count on the essential multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to employees or otherwise that's a great question I constantly throw this back and state what is it what doesn't require to be included ideal and what does
it need to be considered 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 capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is absolutely important however all over you look with payroll payment they are like incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link in between fintech and payroll it's closer than ever I believe 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 also also to add to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and finance teams work closer together than ever um I'm constantly impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on well-being and the settlement landscape is becoming progressively complex. Businesses are continually presenting new advantages and payment choices, which adds to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate teams, which can result in ineffectiveness and traffic jams. In my viewpoint, this doesn't need to hold true. In today's highly sophisticated period, there's no validation for maintaining cumbersome procedures. Payroll, the business's most significant expense, must be processed correctly and on time. Even minor hold-ups can adversely impact workers' wellness and have far-reaching consequences. For that reason, it's crucial to focus on precise and timely payments.
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally too. For that reason, it is important to guarantee that tasks like Wi-Fi International and other important matters are done properly. Using the first International Payments very first payroll payment service is an excellent preliminary step towards supplying a comprehensive payroll service for staff members worldwide. Standardization, global procedures, and minimizing the variety of tools, platforms, and bank accounts needed for international payroll are key consider achieving company success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as planned. Eventually, we do not do it for the gratitude.
anyhow we know 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 easy as possible for everyone that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions think of getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating task attempting to clean up all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and really see what was going on and type of try to return to everybody so moving on appearance why do companies choose to main separate checking account there are companies out there doing precisely this for specific countries and I have actually operated in a business or many businesses doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not producing additional work for any person where we don't 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 requirement I think people have actually got so utilized to we need a brand-new savings account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I believe this is a procedure that requires taking a look at it requires altering but ultimately individuals are extremely stuck with what they're familiar
with right um change is a challenging thing all of us don't like change um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having preserving multiple savings account but there's a huge quantity of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for specific individuals so the complexity is substantial however I think the truthful response is modification um people have not been able to change or have not had always the understanding to really make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny could you tell us about those obstacles yeah naturally 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 handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have successfully secured payments for our 10,000 workers worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is better, considering your achievements.
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