Find out more about Papaya Global Stationery ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trusted technique of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and professionals
The Staff member Website supplies staff members with the capability to gain access to and view important documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile phones and is offered in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive benefits bundles to global staff members regardless of the number of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, dental and maternity leave while removing the requirement to source local benefits suppliers in every nation, develop regional accounts and have a minimum number of employees.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment costs distributed per location, total employment costs per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business managing and building external relationships supporting Enterprise clients and solutions along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for the majority of prominent companies in the world we provide payroll payments and labor force management to all staff member types in over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great evening depending on where you remain in the world it's charming 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 been in the payments market for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of various functions on the supplier side and likewise on the supplier side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide 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 kind of let them do that so it 'd be rather fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I actually do hope it's much sunnier than it is 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 really very gloomy and I wish I was elsewhere at this moment in time okay 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 Worldwide payroll why companies preserve separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is especially helpful for worldwide companies with dispersed and remote labor forces, as it simplifies the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
Guaranteeing accurate, efficient, and prompt payroll payments is a complex obstacle for businesses operating globally. Join us for a webinar to explore the advantages and disadvantages of payroll wallets versus payroll savings account, learn how companies anticipate payroll expenses to enhance working capital, and discover how streamlining global payroll payments can transform them from a burdensome job into a strategic possession.
Handling payroll internationally is a daunting job due to different regulations, compliance requirements, data security concerns, and banking rules. The sheer variety of staff members and companies adds to the intricacy, with an approximated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of combination, resulting in disparities and inadequacies. Regardless of living in a period of technological developments, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to offer insights and services to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in international payroll the less of an image they see an absence of exposure likewise encompasses payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal almost half of international companies have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry errors badly communicated hires and terminations in addition to absence management and system configurations and then when you round everything off and the data is delivered to the wrong location the typical cost of a worldwide data 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 do not run efficiently if they depend on the necessary several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be included best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities 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 intricacy wherever you look ideal eventually developing a knowledge base is definitely vital but everywhere you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is enabling us to type of move on with that it also also to add to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely important that payroll and financing teams work better together than ever um I'm constantly surprised when people state 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 calculation 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 data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more crucial to contribute to kind of the level of complexity there's more and more advantages being organ or being used by businesses throughout the world so once again you're simply seeking to add more and more payments to this currently complicated landscape so if you kind of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of real obstacles or genuine difficult type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would definitely say that the bigger a business 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 teams feeding information 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 doesn't always need to be the case you understand long gone are the times where we require to produce 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 require to be in in a period of tech and a period that you understand that we are working in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single greatest liability that any organization has from an expense perspective from an effect point of view on employees it is definitely crucial 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 biggest damaging impact on individuals's well-being and lots of other aspects if individuals aren't paid uh I've constantly been astonished coming into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this type of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all workers or not um however ultimately payroll is such a crucial cycle we all become aware of 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 consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done properly so leveraging the very first International Payments very first payroll payment service is a great primary step um supplying an end-to-end payroll service for your employees internationally again I think is another big um process once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and lowering the variety of tools platforms and savings account they require for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone rather where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we know how how essential 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 everybody that's involved in those processes and also so think of sorry I'm simply I was simply gon na state imagine the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make certain we're discussing numerous thousands potentially Millions envision getting that lots of thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and type of try to return to everyone so carrying on appearance why do business select to primary different savings account there are services out there doing precisely this for specific countries and I have actually worked in a service or many companies doing exactly that I can say it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not creating extra work for any person where we don't 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 amount that we are I believe lots of reasons one is it's the standard I think people have got so utilized to we need a brand-new checking account we open an entity and rightly so you require 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 the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I think this is a process that requires taking a look at it needs changing but eventually individuals are extremely stuck to what they recognize
with right um modification is a challenging thing we all do not like change um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I understand certainly the benefits of having preserving multiple checking account but there's a big amount of complexity opts for establishing a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific people so the complexity is huge however I believe the truthful response is modification um people haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions aside from opening a bank account I believe you have actually struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or so there is a lot to keep an eye on and this technique does posture a number of challenges um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I simply 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 Global staff members you are worthy of a corner workplace with a closer parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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