Find out more about Papaya Global Aeo ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and secure and reliable approach of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
Employee Website
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax statements and work documents. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies offer competitive benefits plans to global employees despite the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum number of employees.
The HR capabilities supplied by Global HR encompass various functions such as monitoring vacation time, making sure compliance, helping with the process of inviting brand-new staff members and bidding farewell to leaving ones, providing a safe and secure online platform for storing workers' documents, and offering support for work permit procedures in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall work expenses distributed per location, overall work costs per cycle and a lot more.
environments around the world I provided management and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Enterprise clients and services along with serving as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential business in the world we offer payroll payments and workforce management to all staff member enters over 160 nations 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 good afternoon good night depending upon where you remain in the world it's lovely to meet you and thank you quite 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 ten years and particularly 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 chose to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of different functions on the company side and also on the supplier side from a payroll viewpoint so truly anticipating this conversation today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just offer everyone another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really extremely dreary and I wish I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially useful for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of maintaining separate savings account for payroll in various nations, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the advantages of using virtual payroll accounts and discuss why they are ending up being a strategic asset for payroll executives. We will also provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one country but when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably guidelines compliance information security and banking guidelines then there are the sheer numbers they include further complexity the international Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll model there's typically an overwhelming number of different systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or very extremely fundamental there's no genuine consistency structure we're residing in an era of tech but 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 which just blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on global payroll the less of an image they see an absence of exposure likewise extends to payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the transaction nearly half of global businesses 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 information entry mistakes improperly interacted hires and terminations along with absence management and system setups and after that when you round it all off and the information is shipped to the wrong place the typical cost of an international information breach at this moment is 3.9 billion dollars when 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 needed several processes 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 challenges organization face when they're making payments to employees or otherwise that's a great question I constantly toss this back and state what is it what does not need to be consisted of best and what does
it need 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 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 consumer's own in-country account so there's complexity anywhere you look right ultimately building a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to sort of move on with that it likewise too to add to that payroll and financing require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is definitely vital that payroll and finance groups work better together than ever um I'm constantly astonished when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as an industry 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 data collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high worth on well-being and the compensation landscape is ending up being significantly elaborate. Companies are continuously presenting new benefits and payment alternatives, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technically sophisticated period, there's no reason for keeping troublesome procedures. Payroll, the company's most significant expense, must be processed properly and on time. Even slight hold-ups can adversely affect workers' well-being and have far-reaching repercussions. For that reason, it's important to prioritize accurate and prompt payments.
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific 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. Nevertheless, when things go right, it's viewed as just a regular job. This is how it's perceived externally too. For that reason, it is essential to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done correctly. Using the very first International Payments very first payroll payment solution is a great preliminary action towards supplying a comprehensive payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and savings account necessary for worldwide payroll are key consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyway we know how how important 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 simple as possible for everybody that's associated with those procedures and also so picture sorry I'm simply I was just gon na state imagine the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing job 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 attempt to browse them and actually see what was going on and type of shot to return to everyone so moving on look why do companies select to main separate bank accounts there are organizations out there doing precisely this for particular nations and I have actually operated in a service or many organizations doing precisely that I can say it does not always feel efficient and it does produce more work I know we're not purposely doing that we're not developing extra work for anybody where we don't need to and anybody that's managing 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 believe lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new savings account we open an entity and rightly 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 simply been the requirement and the norm individuals have adopted and continue to do over years and years gone past to add to that individuals have actually 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 believe this is a procedure that needs looking at it requires changing but eventually people are very stuck with what they're familiar
with ideal um change is a difficult thing all of us don't like modification um so I believe it's just type of moving away from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping multiple bank accounts but there's a big amount of complexity goes with establishing a checking account keeping it ensuring it can send International transfers ensuring it's set up with the ideal user accesses for private people so the intricacy is big however I believe the honest answer is modification um people have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I believe it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of proceeding and moving into you know what could nearly be determined to be the next Century approximately there is a lot to keep track of and this approach does position several difficulties um so Johnny might you tell us about those difficulties yeah of course 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 employees you are worthy of a corner workplace with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you