Find out more about Papaya Global Asking For Admin To Open ... 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 actually obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and trusted method of paying to our 10,000 workers worldwide.}
The advanced international payroll management app streamlines my payroll process, conserving me a considerable amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Staff member Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to international staff members regardless of the number of workers in the business. 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 companies in every nation, develop regional accounts and have a minimum variety of employees.
The HR abilities provided by Worldwide HR incorporate different functions such as keeping track of getaway time, making sure compliance, helping with the process of welcoming brand-new staff members and bidding goodbye to departing ones, providing a protected online platform for storing workers' documents, and providing assistance for work permit procedures in case your staff members require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce diversity, total employment costs distributed per place, total work costs per cycle and far more.
environments around the world I supplied management and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and solutions in addition to functioning as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies in the world we supply 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 present yourself of course thank you good morning excellent afternoon good night depending on where you are in the world it's charming to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments industry for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was fascinated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually type of had a variety of various functions on the provider side and also on the vendor side from a payroll perspective so really looking forward to this discussion today um and yeah thank you very much for your time everyone alright thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing 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 everyone originates from and I really 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 very gloomy and I wish I was somewhere else at this moment in time okay so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a recap which needs to leave his time at the really extremely 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 International labor forces end up being increasingly more common and handling them becomes a growing number of complex Worldwide organizations are looking to discover Solutions and new methods to simplify procedures specifically from a payroll and cross-border payment perspective numerous organizations maintain separate checking account just for payroll while some have numerous accounts in various nations does it make good sense for business to maintain different savings account in some cases in different countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies streamline the episode complex processes of
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complex for a range of factors most significantly guidelines compliance data security and banking rules then there are the large numbers they add further complexity the global Labor force is presently 3 and a half billion people by 2030 it's estimated 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 factor in that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's frequently an overwhelming number of different systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in large amounts and or really really standard there's no real consistency structure we're living in an era of tech however payroll has 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 each time I I believe
about it to provide you an idea 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 gives me sleep deprived nights and quite honestly the more an organization spends on worldwide payroll the less of a picture they see a lack of exposure likewise extends to payroll payments and failure to accurately track these payments can cause compliance accidents in the last mile of the transaction almost half of global organizations have expressed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry mistakes improperly interacted hires and terminations along with absence management and system setups and then when you round it all off and the information is delivered to the incorrect location the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the world payroll and payments do not run smoothly if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's a great question I always throw this back and state what is it what doesn't need to be consisted of best and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment capabilities 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 consumer's own in-country account so there's complexity anywhere you look best eventually building a knowledge base is absolutely 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 between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to kind of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely important that payroll and financing groups work better together than ever um I'm constantly impressed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to add to type of the level of complexity there's increasingly more benefits being organ or being used by organizations across the world so once again you're simply seeking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of genuine difficulties or real difficult kind of pay utilizes to play to pay individuals I believe yeah I suggest over the last well yeah a couple of decades I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my viewpoint and my experience that doesn't always require 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 just make them more timely they make them less efficient and they don't make them what they require to be in in an era of tech and a period that you understand that we are operating in today there is no reason why we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single biggest liability that any business has from an expense point of view from an effect viewpoint on workers it is definitely crucial that it's done properly 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 greatest damaging impact on people's wellness and many other elements if individuals aren't paid uh I have actually always been astonished entering into this Market type of the last five to 10 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 excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people only see when things go wrong. However, when things go right, it's viewed as simply a regular job. This is how it's perceived externally also. Therefore, it is essential to make sure that jobs like Wi-Fi Global and other vital matters are done correctly. Using the first International Payments first payroll payment solution is a terrific preliminary step towards offering a detailed payroll service for workers worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and checking account essential for worldwide payroll are essential factors in achieving service success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things do not go as planned. Ultimately, we don't do it for the thankfulness.
anyhow 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 everyone that's involved in those processes and also so picture sorry I'm simply I was just gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting task attempting 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 check out them and in fact see what was going on and type of shot to get back to everyone so moving on look why do companies choose to primary separate checking account there are companies out there doing precisely this for specific nations and I have actually operated in a business or lots of services doing exactly that I can state it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not creating extra work for anyone where we don't need to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe numerous factors one is it's the requirement I believe people have actually got so utilized to we require a new checking 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 believe it's just been the requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other methods um to to kind of do it so I think there's a range I think this is a process that requires looking at it needs changing but ultimately individuals are extremely stuck with what they're familiar
with best um modification is a hard thing we all do not like modification um so I think 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 understand clearly the advantages of having keeping several savings account however there's a substantial quantity of intricacy chooses establishing a checking account keeping it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the intricacy is huge but I think the truthful answer is modification um individuals have not had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is a component of resistance to change but we have actually always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep track of and this technique does position a number of challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range 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 employees you should have 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
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