Find out more about Papaya Global Student Loan Deductions ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer specifically devoted to handling payments. This provides us with a safe and reputable method of making payments to our 10,000 staff members worldwide.}
The advanced global payroll management app enhances my payroll process, conserving me a considerable quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and professionals.
Employee Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive benefits packages to international workers despite the variety of workers in the business. The company can set up health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while removing the need to source regional benefits companies in every country, develop regional accounts and have a minimum variety of staff members.
The HR abilities provided by International HR incorporate various functions such as keeping track of trip time, guaranteeing compliance, helping with the process of inviting new employees and bidding farewell to departing ones, using a secure online platform for saving employees' documents, and supplying support for work permit procedures in case your staff members need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total work expenses distributed per area, total employment expenses per cycle and far more.
environments across the globe I provided leadership and technique to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business managing and structure external relationships supporting Business clients and solutions as well as acting as an advisor for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
As an international business, we are honored to be consisted of on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and labor force management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have focused on payroll and payment options for the past 7 years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and decided to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a variety of different roles on the supplier side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply provide everyone another couple of uh well one of the 30 seconds approximately to join all of us work back to back these days so we'll type of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really 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 drizzling here it's extremely extremely dreary 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 taking a look at the challenge years of handling Worldwide payroll why companies preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a strategic possession uh we'll also review a wrap-up which must 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 Worldwide labor forces end up being a growing number of common and handling them ends up being increasingly more complicated International companies are looking to discover Solutions and new methods to enhance processes specifically from a payroll and cross-border payment viewpoint many companies preserve separate bank account just for payroll while some have several accounts in different nations does it make sense for companies to maintain different checking account sometimes in various nations it does however just for payroll exists a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex processes of
making payroll payments accurately efficiently safely and on time throughout this webinar we'll walk you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most importantly regulations compliance data security and banking guidelines then there are the sheer numbers they add additional intricacy the global Workforce is currently three and a half billion individuals 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 factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the number of Integrations could be non-existent in big quantities and or very really fundamental there's no genuine consistency structure we're living in an age of tech however payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just 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 only 11 of services state they have Labor force data in real time that's another number that offers me sleepless nights and quite honestly the more a service spends on global payroll the less of a photo they see a lack of exposure also reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global services have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes improperly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the data is shipped to the wrong place the typical cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash around the world payroll and payments do not run smoothly if they depend on the essential numerous processes systems and partners it is just 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 staff members or otherwise that's a great concern I constantly throw this back and say what is it what doesn't require to be consisted of ideal and what does
it need to be thought of 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity wherever you look right eventually developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like super payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to kind of move forward with that it likewise too to add to that payroll and financing need to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and finance groups work closer together than ever um I'm always surprised 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 work 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 typically 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 live in and well-being being more and more essential to add to type of the level of complexity there's a growing number of advantages being organ or being provided by organizations throughout the world so again you're just wanting to include a growing number of payments to this already intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure however have you got any experience in kind of real challenges or genuine tough type 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 state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams 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 always need to be the case you understand long gone are the times where we need to create extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any business has from a cost viewpoint from an impact viewpoint on workers it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on individuals's wellness and numerous other factors if individuals aren't paid uh I have actually always been surprised entering this Market kind of the last five to 10 years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be great to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and people just observe when things fail. However, when things go right, it's viewed as just a routine job. This is how it's viewed externally also. For that reason, it is vital to make sure that jobs like Wi-Fi International and other important matters are done properly. Using the very first Global Payments very first payroll payment solution is a terrific preliminary step towards providing a thorough payroll option for staff members worldwide. Standardization, international processes, and decreasing the number of tools, platforms, and savings account required for global payroll are essential consider accomplishing service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Eventually, we don't do it for the thankfulness.
anyhow we understand how how essential a role 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 easy as possible for everybody that's involved in those processes and also so picture sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean all those up for sure oh absolutely 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 attempt to check out them and really see what was going on and kind of try to get back to everyone so proceeding appearance why do business select to main separate savings account there are businesses out there doing precisely this for particular nations and I've operated in an organization or many companies doing exactly that I can state it does not constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for anybody where we don't have to and any person that's handling that process 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 think lots of reasons one is it's the standard I think people have got so utilized to we require a brand-new bank account we open an entity and rightly so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to sort of do it so I think there's a variety I think this is a process that requires looking at it requires changing but ultimately individuals are very stuck to what they recognize
with right um change is a hard thing we all don't like change um so I think it's simply sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping numerous savings account however there's a substantial quantity of complexity opts for setting up a savings account keeping it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is huge however I believe the truthful response is change um individuals haven't had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we've constantly done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what could practically be determined to be the next Century or two there is a lot to keep an eye on and this method does pose numerous challenges um so Johnny might you inform us about those difficulties yeah obviously so there's a variety right there is so
I simply did you switched our Business 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 Global workers you are worthy of a corner workplace with a better parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
Nominal Link Settings Papaya Global