Find out more about Papaya Global Change Weekly Payroll Date ... 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 obtained a different Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and secure and dependable approach of paying to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app improves my payroll procedure, conserving me a significant amount of time monthly. With its user-friendly user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and specialists.
Worker Portal
Staff members have access to a Worker Website where they can see their pay slips, wage and tax declarations and work documents. The website is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business provide competitive advantages plans to international workers despite the variety of employees in the company. The business can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source local benefits service providers in every nation, produce local accounts and have a minimum number of workers.
The HR abilities supplied by Worldwide HR incorporate various functions such as monitoring getaway time, guaranteeing compliance, helping with the procedure of inviting new workers and bidding goodbye to leaving ones, offering a safe online platform for keeping employees' documents, and supplying support for work permit treatments in case your workers need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall work expenses distributed per place, total employment expenses per cycle and a lot more.
environments around the world I offered leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and services as well as acting as a consultant for those of you that do not understand who papaya International is papaya is the very first payroll and payments
As an international company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on providing payroll and labor force management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your place. It's a satisfaction to meet you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have actually focused on payroll and payment services for the past seven years. The complexities and obstacles of this field have always captivated me.
payroll payments and decided to kind of make a genuine go at that over the last five or 6 years where I've type of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll viewpoint so truly anticipating this discussion today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just provide everyone another couple of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather fascinating 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 everybody originates from and I actually 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 drizzling here it's very really gloomy and I want I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be looking at the challenge years of handling International payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll bank accounts 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 and that must leave his time at the really 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 International workforces become more and more common and managing them ends up being more and more complicated Global organizations are wanting to find Solutions and new methods to enhance procedures specifically from a payroll and cross-border payment perspective numerous organizations maintain separate bank account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain separate checking account in some cases in different nations it does however just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational business streamline the episode complex processes of
making payroll payments accurately effectively safely and on time during this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately anticipate their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical possession so payroll can be challenging in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes complicated for a variety of reasons most notably guidelines compliance information security and banking guidelines then there are the large numbers they include further complexity the worldwide Workforce is currently three 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 all over the world in the standard payroll model there's often a frustrating variety of different systems causing time-consuming manual procedures and silos the variety of Combinations could be non-existent in big quantities and or very very standard there's no real consistency framework we're living in an era of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind each 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 companies state they have Workforce data in real time that's another number that gives me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of an image they see a lack of presence also encompasses payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations have revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data information entry mistakes improperly communicated hires and terminations as well as absence management and system configurations and after that when you round all of it off and the data is delivered to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they count on the necessary several procedures 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 difficulties company face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and say what is it what doesn't need to be consisted of best and what does
it need to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 any place you look ideal ultimately building a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is enabling us to sort of move forward with that it also as well to contribute to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely imperative that payroll and finance groups work closer together than ever um I'm constantly surprised when people state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who does not operate in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market 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 information collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more crucial to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by companies across the world so once again you're simply seeking to include more and more payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real tough sort of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a couple of decades I would definitely say that the larger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding information 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 need to be the case you understand long gone are the times where we need to create additional handoffs in the processes 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 era of tech and an age that you know that we are working in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost point of view from an impact point of view on staff members it is absolutely critical 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 need to be done right it has the most significant detrimental result on individuals's wellness and numerous other elements if people aren't paid uh I have actually always been amazed coming into this Market type of the last 5 to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um but ultimately payroll is such a crucial cycle all of us become aware of it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the first International Payments first payroll payment service is a terrific primary step um providing an end-to-end payroll solution for your staff members globally again I think is another huge um procedure again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely key to success success of businesses and minimizing the variety of tools platforms and savings account they require for their Worldwide payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever 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 grievances where things have not gone quite where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyhow 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 easy as possible for everyone that's associated with those processes and likewise so picture sorry I'm simply I was just gon na say think of 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 talking about hundreds of thousands possibly Millions envision getting that lots of 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 carrying on appearance why do companies choose to main separate checking account there are businesses out there doing exactly this for specific countries and I have actually worked in a business or lots of organizations doing precisely that I can say it does not constantly feel effective and it does produce more work I understand we're not purposely doing that we're not producing additional work for anyone where we don't need to and any person that's handling that procedure 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 think lots of reasons one is it's the standard I believe people have actually got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that needs looking at it requires changing however eventually individuals are extremely stuck with what they recognize
with ideal um change is a challenging thing all of us don't like change um so I believe it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having maintaining multiple checking account but there's a huge quantity of intricacy goes with setting up a checking account preserving it guaranteeing it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the intricacy is big but I think the truthful response is change um people have not had the ability to change or have not had always the knowledge to really make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to monitor and this approach does posture several obstacles um so Johnny could you inform us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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