Find out more about Papaya Global Change Location Of Data ... 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 acquired a different Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and reliable approach of making payments to our 10,000 workers worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Worker Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and work files. The website is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits packages to global employees regardless of the variety of staff members in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the need to source local benefits suppliers in every nation, create regional accounts and have a minimum number of staff members.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall employment expenses dispersed per place, overall work expenses per cycle and much more.
environments around the world I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and building external relationships supporting Enterprise clients and options along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great night depending upon where you remain in the world it's lovely to satisfy you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or 6 years where I have actually sort of had a variety of various roles on the service provider side and likewise on the vendor side from a payroll point of view so really anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely very dreary and I want I was elsewhere at this moment in time all right so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why business maintain separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll likewise review a recap which ought 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 transferring to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become increasingly more typical and managing them becomes more and more complex Worldwide organizations are wanting to discover Solutions and new methods to enhance processes particularly from a payroll and cross-border payment viewpoint numerous companies keep different checking account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve separate bank accounts in some cases in different countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also known as virtual wallets play in assisting international companies simplify the episode complex procedures of
making payroll payments precisely effectively safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be tough in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the large numbers they add further 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 additional 1.1 billion individuals that number is currently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll model there's typically a frustrating number of different systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency structure we're residing in a period of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I think
about it to offer 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 rather honestly the more a service spends on international payroll the less of an image they see a lack of exposure likewise reaches payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors improperly interacted hires and terminations as well as lack management and system setups and then when you round it all off and the data is shipped to the wrong location the typical expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they depend on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization 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 need to be consisted of right 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 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 have to pay from the customer's own in-country account so there's complexity wherever you look ideal eventually building a knowledge base is definitely important however everywhere you look with payroll payment they are like super payments no if but some infants 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 acknowledgment that payroll payments are definitely basic and technology is permitting us to kind of move forward with that it likewise also to contribute to that payroll and financing need to work closer together um with varying Checking account Details varying banking requirements and setup processes is definitely crucial that payroll and financing groups work better together than ever um I'm always astonished when people state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation would they divide the payroll payment from computation I would say no so why do we as an industry accept that why our payroll and payments so often 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 wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the settlement landscape is ending up being progressively complex. Services are continually introducing new benefits and payment options, which contributes to the total complexity. Big corporations frequently divide their payroll and payment processing into separate teams, which can cause ineffectiveness and bottlenecks. In my viewpoint, this doesn't have to be the case. In today's technically advanced age, there's no reason for maintaining troublesome procedures. Payroll, the company's greatest expenditure, need to be processed properly and on time. Even minor delays can negatively impact employees' wellness and have far-reaching effects. For that reason, it's important to prioritize precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually 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 employees or not um but ultimately payroll is such an important cycle all of us hear about it when it fails everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment option is an excellent primary step um providing an end-to-end payroll solution for your employees worldwide again I believe is another huge um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of businesses and decreasing the variety of tools platforms and checking account they need 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 have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't think any of us are actually doing that for for the thanks
anyhow we know 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 everyone that's associated with those processes and likewise so think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions think of getting that lots of thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely 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 attempt to look through them and in fact see what was going on and sort of shot to return to everyone so moving on look why do companies pick to main separate checking account there are services out there doing precisely this for particular countries and I've worked in a service or many businesses doing precisely that I can say it doesn't constantly feel effective and it does create more work I know we're not purposely doing that we're not producing extra work for any person where we do not have to and anybody that's managing 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 quantity that we are I believe numerous factors one is it's the standard I think individuals have got so used to we need a new bank account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard the people have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and lots of other ways um to to kind of do it so I believe there's a range I think this is a process that requires taking a look at it needs altering but ultimately people are really stuck with what they're familiar
with right um change is a difficult thing all of us do not like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping several checking account however there's a substantial quantity of complexity opts for establishing a checking account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is huge however I believe the truthful response is modification um people have not 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 think you've struck the nail on the head I think it is knowledge you understand and there is an element of resistance to change however we have actually constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or two there is a lot to keep track of and this method does pose numerous obstacles um so Johnny might you tell us about those challenges yeah naturally so there's a range right there is so
I simply did you changed 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 workers you should have a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo