Find out more about Papaya Global Autoupdateclient.Exe ... 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 actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and secure and reputable technique of making payments to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and contractors
The Employee Website supplies staff members with the ability to access and view important files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Benefits Administration
Papaya Global helps business use competitive benefits plans to worldwide workers no matter the variety of employees in the company. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages service providers in every nation, create regional accounts and have a minimum variety of workers.
The HR capabilities provided by Worldwide HR include numerous functions such as monitoring holiday time, making sure compliance, facilitating the process of welcoming new staff members and bidding farewell to leaving ones, providing a protected online platform for saving workers' documents, and offering assistance for work permit treatments in case your employees require support in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, overall employment expenses dispersed per place, overall employment expenses per cycle and a lot more.
Internationally, I have actually demonstrated leadership and strategic expertise in directing massive populations of over 100,000 workers across 170 nations. Currently, I are accountable for overseeing payroll strategies, as pointed out by Mark. My role involves managing and establishing external partnerships, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for the majority of prominent companies on the planet we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to say 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 excellent night depending on where you are in the world it's charming to meet you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated 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 five or six years where I have actually type of had a range of different functions on the company side and likewise on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just offer everybody another number of uh well among 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 just to hear where everyone is um it's nice to to sort of like see where everyone 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 very really gloomy and I wish I was elsewhere at this moment in time alright so let's start our program for today is as follows um we are going to be looking at the difficulty years of handling International payroll why business preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical possession uh we'll also review a recap which needs to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more common and handling them ends up being more and more complex International organizations are aiming to find Solutions and new ways to enhance procedures specifically from a payroll and cross-border payment standpoint lots of organizations preserve different bank account just for payroll while some have several accounts in different countries does it make good sense for business to maintain different checking account in some cases in different countries it does but just for payroll is there a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational business simplify the episode complex procedures of
making payroll payments properly efficiently safely and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one nation however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most importantly regulations compliance data security and banking rules then there are the sheer numbers they include more complexity the international Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the globe in the traditional payroll model there's frequently an overwhelming variety of different systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in large quantities and or very very standard there's no real consistency framework we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind whenever I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Labor force data in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see a lack of exposure likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide businesses have revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors poorly interacted hires and terminations as well as absence management and system configurations and then when you round everything off and the information is shipped to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the needed several procedures systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties organization face when they're making payments to staff members or otherwise that's a great question I constantly toss this back and say what is it what does not need to be included right and what does
it require to be considered there's differing Bank details 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 consumer's own in-country account so there's complexity anywhere you look ideal ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like incredibly payments no if but some children 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 absolutely essential and innovation is enabling us to kind of progress with that it also too to contribute to that payroll and financing need to work closer together um with differing Savings account Details differing banking requirements and setup processes is absolutely imperative that payroll and finance groups work closer together than ever um I'm always surprised when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and wellness being more and more important to contribute to kind of the level of complexity there's more and more benefits being organ or being provided by businesses throughout the world so again you're just wanting to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of real challenges or real difficult kind of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would absolutely say that the bigger a company gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you said payroll is the single most significant liability that any service has from an expense point of view from an impact viewpoint on workers it is absolutely crucial that it's done properly and on time so what we imply 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 destructive impact on individuals's well-being and numerous other aspects if people aren't paid uh I have actually always been surprised coming into this Market kind of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all workers or not um but ultimately payroll is such an essential cycle we all find out about it when it goes wrong everyone jumps up and down when it goes wrong but when it goes right it's simply a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a fantastic first step um supplying an end-to-end payroll service for your employees globally again I think is another substantial um procedure once again aligning and guaranteeing you have standardization International procedures all of those things are definitely key to success success of services and minimizing the variety of tools platforms and checking account they require for their Worldwide payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the problems where things have not gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial a function 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm just I was just gon na state envision the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions picture 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 however it would certainly be a fascinating job 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 check out them and in fact see what was going on and kind of try to return to everyone so proceeding appearance why do business select to main separate savings account there are businesses out there doing exactly this for specific countries and I've operated in an organization or numerous companies doing exactly that I can state it doesn't constantly feel effective and it does produce more work I understand we're not deliberately doing that we're not creating extra work for anyone where we don't need to and anybody that's dealing with that process I 'd be interested to hear your thoughts 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 used 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 think it's simply been the standard and the standard the people have adopted and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and lots of other methods um to to kind of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering however eventually individuals are really stuck with what they're familiar
with ideal um change is a challenging thing all of us do not like modification um so I believe it's just kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the advantages of having keeping multiple bank accounts but there's a substantial quantity of intricacy chooses establishing a bank account keeping it guaranteeing it can send out International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is huge but I think the truthful response is modification um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to track and this technique does pose a number of challenges um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I just 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 deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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