Find out more about Papaya Global Software Uk ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a protected and trusted approach of paying to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Worker Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and employment files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to worldwide employees despite the number of staff members in the company. The company can set up health insurance, short-term and long-lasting special needs, vision, oral and maternity leave while getting rid of the need to source local advantages suppliers in every country, create local accounts and have a minimum variety of workers.
The HR abilities provided by Global HR encompass various functions such as monitoring holiday time, guaranteeing compliance, helping with the procedure of welcoming new workers and bidding farewell to leaving ones, using a secure online platform for keeping workers' files, and providing support for work permit treatments in case your workers need assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total employment expenses dispersed per area, overall work costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise customers and services along with functioning as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent companies worldwide. We specialize in supplying payroll and labor force management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past 7 years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've type of had a range of different roles on the supplier side and likewise on the supplier side from a payroll point of view so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everybody another couple of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes 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 drizzling here it's really very bleak and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic property uh we'll likewise go over a recap which must leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become more and more typical and managing them becomes more and more complicated International organizations are aiming to discover Solutions and brand-new ways to simplify procedures specifically from a payroll and cross-border payment viewpoint lots of organizations preserve different bank account just for payroll while some have numerous accounts in various nations does it make sense for companies to keep separate checking account sometimes in various nations it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business enhance the episode complex procedures of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international pros and cons of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of factors most notably policies compliance information security and banking guidelines then there are the large numbers they add additional intricacy the international Labor force is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 around the globe in the standard payroll design there's often an overwhelming variety of various systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or very very standard there's no genuine consistency structure we're living in a period 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 which simply blows my mind each 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 organizations say they have Labor force information in real time that's another number that provides me sleep deprived nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see a lack of presence also extends to payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the transaction almost half of global businesses have revealed 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 poor HCM information information entry mistakes badly interacted hires and terminations along with absence management and system setups and after that when you round everything off and the data is delivered to the incorrect location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments don't run smoothly if they rely on the required 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 business face when they're making payments to workers or otherwise that's a great concern I always throw this back and state what is it what does not require to be included best and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity any place you look right eventually developing a knowledge base is definitely important but all over you look with payroll payment they are like very payments no if however 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 think there's now a bit more acknowledgment that payroll payments are absolutely basic and innovation is allowing us to kind of move on with that it likewise as well to add to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is definitely vital that payroll and financing groups work closer together than ever um I'm constantly astonished when people say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they divide 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of essential to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by services throughout the world so once again you're simply wanting to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine challenges or real difficult sort of pay uses to play to pay people I think yeah I imply over the last well yeah a couple of decades I would definitely say that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding info into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less effective and they don't make them what they need to be in in an age of tech and a period that you understand that we are operating in today there is no reason we are still making this as challenging as it needs to be concurred and rightly as you stated payroll is the single most significant liability that any service has from a cost viewpoint from an impact viewpoint on workers it is definitely important that it's done correctly and on time so what we mean 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 individuals's well-being and lots of other elements if individuals aren't paid uh I have actually constantly been amazed entering this Market type of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll during a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and individuals only notice when things fail. However, when things go right, it's seen as just a regular job. This is how it's viewed externally as well. Therefore, it is vital to guarantee that jobs like Wi-Fi Worldwide and other crucial matters are done properly. Using the very first International Payments very first payroll payment service is a terrific preliminary action towards supplying a detailed payroll service for workers worldwide. Standardization, international procedures, and decreasing the variety of tools, platforms, and savings account required for worldwide payroll are crucial factors in attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few grievances when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyway we know how how crucial a function 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 involved in those procedures and also so envision sorry I'm simply I was simply gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you keeps in mind um I imply it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and really see what was going on and type of shot to return to everyone so carrying on appearance why do business pick to main different savings account there are services out there doing exactly this for particular nations and I have actually operated in a business or lots of businesses doing precisely that I can state it does not always feel efficient and it does create more work I know we're not deliberately doing that we're not developing extra work for anyone where we do not need to and anybody 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 amount that we are I believe lots of reasons one is it's the requirement I believe individuals have got so utilized to we need a new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm the people have embraced and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a range I think this is a process that needs looking at it needs changing however eventually people are very stuck with what they're familiar
with right um change is a difficult thing we all do not like change um so I think it's just sort of moving away from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving several checking account but there's a substantial quantity of complexity goes with setting up a checking account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the intricacy is huge but I think the truthful response is modification um individuals have not been able to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I think you have actually struck the nail on the head I think it is knowledge you understand and there is a component of resistance to change however we've always done it that way is no genuine excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to track and this method does present numerous obstacles um so Johnny might you inform us about those obstacles 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner workplace with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global