Find out more about Papaya Global Roll Back ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Website
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax declarations and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to global staff members no matter the number of employees in the company. The company can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while removing the need to source local benefits providers in every country, develop local accounts and have a minimum variety of staff members.
The HR abilities offered by Global HR encompass different functions such as monitoring getaway time, ensuring compliance, assisting in the procedure of welcoming new workers and bidding goodbye to departing ones, offering a safe and secure online platform for keeping employees' files, and offering assistance for work allow treatments in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall employment expenses dispersed per place, total employment costs per cycle and much more.
environments around the world I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout business managing and building external relationships supporting Enterprise customers and options in addition to serving as a consultant for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for the majority of prominent business on the planet we provide payroll payments and workforce 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 obviously thank you good morning great afternoon good night depending on where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically working on the payroll and payment sector for over 7 years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually type of had a variety of different roles on the service provider side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everybody 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 remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's very really bleak and I wish I was somewhere else at this moment in time fine so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why companies keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Global payroll payments as a tactical asset uh we'll likewise review a wrap-up and that must leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being increasingly more common and handling them becomes a growing number of complicated Worldwide companies are looking to discover Solutions and brand-new ways to enhance processes especially from a payroll and cross-border payment perspective lots of companies maintain separate checking account just for payroll while some have several accounts in various nations does it make sense for companies to keep different checking account in some cases in various countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business improve the episode complex processes of
making payroll payments precisely effectively safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business precisely anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of reasons most significantly policies compliance data security and banking rules then there are the large numbers they add more complexity the global Labor force is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's typically an overwhelming number of different systems causing time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely very fundamental there's no genuine consistency structure we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in international payroll the less of a photo they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of global services have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money worldwide 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 point of view and in your experience what else needs to be factored into the difficulties company face when they're paying to staff members or otherwise that's a great concern I constantly throw this back and state what is it what doesn't require to be included ideal and what does
it require to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan 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 client's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely crucial but all over 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 sort 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 definitely fundamental and innovation is permitting us to sort of move on with that it also also to add to that payroll and finance need to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work closer together than ever um I'm always impressed 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 work 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 frequently split and cut up um ultimately 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 however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to type of the level of complexity there's more and more benefits being organ or being offered by companies across the world so once again you're simply aiming to include increasingly more payments to this already intricate landscape so if you sort of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine challenging kind of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number 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 groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop extra handoffs in the processes 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 an era 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 tough as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from a cost perspective from an impact point of view on employees it is absolutely important 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 biggest damaging impact on individuals's well-being and many other aspects if individuals aren't paid uh I've constantly been astonished coming into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um but eventually payroll is such an essential cycle we all hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first International Payments first payroll payment option is a fantastic primary step um supplying an end-to-end payroll option for your employees worldwide again I think is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are definitely crucial to success success of businesses and lowering the number of tools platforms and bank accounts they need for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand 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 processes and also so imagine sorry I'm simply I was just gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting job trying to clean up 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 need days of the week to try to look through them and in fact see what was going on and sort of try to get back to everyone so moving on appearance why do business pick to main different bank accounts there are companies out there doing exactly this for particular countries and I've worked in an organization or numerous services doing exactly that I can say it doesn't constantly feel efficient and it does create more work I know we're not deliberately doing that we're not producing additional work for anybody where we do not have to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think many reasons one is it's the requirement I think people have got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm individuals have embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other methods um to to type of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires changing however ultimately people are really stuck to 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 kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having preserving multiple bank accounts but there's a huge amount of intricacy opts for setting up a checking account maintaining it ensuring it can send out International transfers ensuring it's set up with the best user accesses for private people so the complexity is big but I believe the honest response is change um people have not had the ability to change or haven't had necessarily the understanding 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 think it is knowledge you know and there is a component of resistance to alter however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might almost be identified to be the next Century or two there is a lot to keep an eye on and this method does pose a number of challenges um so Johnny could you inform us about those challenges yeah naturally so there's a range right there is so
I just did you switched 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 Worldwide staff members you should have a corner office with a closer parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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