Find out more about Papaya Global Br Tax Code ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure and reputable method of making payments to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Staff member Website
Employees have access to a Worker Portal where they can see 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 offer competitive advantages packages to worldwide staff members despite the variety of staff members in the company. The business can establish medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the need to source local advantages companies in every nation, create regional accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce variety, total employment costs distributed per place, overall employment costs per cycle and much more.
environments across the globe I offered leadership and method to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll strategies for as Mark stated I work across business handling and structure external relationships supporting Business clients and options in addition to serving as a consultant for those of you that don't know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and workforce management to all employee types in over 160 nations I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good night depending upon where you are in the world it's charming to satisfy 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 have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a range of different functions on the provider side and also on the vendor side from a payroll perspective so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join we all work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone originates from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely very bleak and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why business preserve different
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise offer a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely 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 companies precisely anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a range of factors most notably policies compliance data security and banking rules then there are the sheer numbers they include additional intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 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 traditional payroll design there's often a frustrating number of various systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really basic there's no genuine consistency structure we're living in an age of tech however payroll has been slow 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 every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleepless nights and quite honestly the more an organization spends on global payroll the less of an image they see a lack of presence also reaches payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of international organizations have expressed that they don't have the level of standardization they require in their procedures or desire and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the wrong location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash all over the world payroll and payments don't run smoothly if they depend on the needed several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to workers or otherwise that's an excellent question I constantly toss this back and say what is it what does not require to be consisted of right and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's intricacy anywhere you look right ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 innovation is permitting us to type of move forward with that it likewise also to add to that payroll and financing need to work closer together um with differing Bank Account Details differing banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly amazed when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation 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 eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of crucial to contribute to type of the level of intricacy there's increasingly more benefits being organ or being used by businesses throughout the world so once again you're just seeking to add increasingly more payments to this currently intricate landscape so if you sort 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 genuine difficulties or real difficult sort of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a couple of years I would definitely state that the larger a company gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we need to create additional handoffs while doing sos that we run in they simply make them more timely 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 know that we are working in today there is no reason that we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single greatest liability that any service has from a cost perspective from an impact viewpoint on workers it is absolutely crucial that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the most significant destructive result on individuals's wellness and many other elements if individuals aren't paid uh I've always been astonished entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll group might not have actually been thanked for properly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only discover when things fail. However, when things go right, it's viewed as just a routine task. This is how it's viewed externally as well. For that reason, it is vital to ensure that tasks like Wi-Fi International and other important matters are done correctly. Utilizing the first International Payments first payroll payment solution is an excellent preliminary step towards offering an extensive payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and savings account necessary for global payroll are crucial factors in accomplishing company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically get a few problems when things do not go as planned. Ultimately, we don't do it for the appreciation.
anyhow we understand how how crucial 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 associated with those procedures and likewise so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about hundreds of thousands potentially Millions picture getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and sort of try to return to everybody so proceeding look why do business select to main separate bank accounts there are companies out there doing precisely this for specific countries and I've operated in a service or numerous companies doing exactly that I can say it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not producing additional work for any person where we don't have to and anyone that's managing 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 amount that we are I believe lots of reasons one is it's the requirement I think people have actually got so used to we require a new checking account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a variety I believe this is a process that requires taking a look at it requires changing but ultimately individuals are extremely stuck to what they're familiar
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping numerous bank accounts but there's a huge amount of intricacy chooses establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the right user accesses for specific individuals so the complexity is substantial but I think the truthful answer is change um people have not been able to change or have not had always the knowledge to really make that change into alternate Solutions aside from opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to change however we've always done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might almost be figured out to be the next Century or two there is a lot to monitor and this method does position numerous obstacles um so Johnny might you inform us about those obstacles yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually acquired another CFO, and with this enhanced capability, I have actually successfully secured payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is good. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Aeo