Find out more about Papaya Global Child Maintenance Deductions ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to handling payments. This supplies us with a safe and trusted method of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app streamlines my payroll process, saving me a substantial quantity of time monthly. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and contractors.
Worker Portal
Employees have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment documents. The website is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies use competitive benefits packages to international workers regardless of the variety of employees in the business. The business can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional benefits companies in every country, produce regional accounts and have a minimum variety of workers.
The HR abilities provided by International HR include various functions such as keeping an eye on trip time, ensuring compliance, helping with the procedure of inviting new workers and bidding goodbye to leaving ones, providing a secure online platform for saving workers' files, and supplying support for work permit treatments in case your staff members need assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work expenses distributed per location, overall work costs per cycle and far more.
Worldwide, I have actually demonstrated leadership and strategic know-how in assisting large-scale populations of over 100,000 workers across 170 nations. Currently, I am responsible for managing payroll techniques, as pointed out by Mark. My function includes managing and developing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
business to make the time 100 list for many influential business in the world we offer payroll payments and labor force management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good evening depending on where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was amazed by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've sort of had a range of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll simply give everybody another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everyone is um it's nice to to type of like see where everybody comes from and I truly 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 gloomy and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts streamlining papaya Global payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that must leave his time at the extremely 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 Worldwide workforces end up being more and more common and handling them becomes a growing number of complicated Worldwide companies are aiming to discover Solutions and brand-new ways to streamline processes particularly from a payroll and cross-border payment standpoint numerous companies keep separate savings account just for payroll while some have several accounts in various nations does it make good sense for companies to maintain separate checking account sometimes in various countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational companies simplify the episode complex procedures of
making payroll payments accurately efficiently firmly 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 business precisely forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be tough in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a range of reasons most notably policies compliance information security and banking rules then there are the sheer numbers they add additional intricacy the international Workforce is currently 3 and a half billion people by 2030 it's approximated 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 consider that there are some 230 million services and growing all doing their own thing around the world in the standard payroll design there's typically a frustrating number of various systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in large amounts and or very very basic there's no genuine consistency framework we're residing in an age of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I think
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on global payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of worldwide services have actually revealed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information information entry mistakes poorly interacted hires and terminations along with lack management and system configurations and after that when you round it all off and the information is shipped to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they depend on the needed multiple processes 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 service face when they're making payments to employees or otherwise that's a great question I always throw this back and state what is it what doesn't require to be included ideal and what does
it need to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per country 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 need to pay from the customer's own in-country account so there's intricacy anywhere you look best ultimately constructing a knowledge base is definitely vital however all over you look with payroll payment they resemble incredibly payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is enabling us to type of move forward with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely necessary that payroll and finance groups work more detailed together than ever um I'm constantly amazed when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll profession would they divide 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 individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more essential to contribute to type of the level of complexity there's more and more benefits being organ or being provided by organizations throughout the world so again you're just wanting to add more and more payments to this currently complex landscape so if you type 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 challenges or real tough type of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of years I would certainly state that the larger a service 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 handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we require to create extra handoffs in the processes that we operate in they just make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from a cost viewpoint from an impact point of view on staff members it is definitely important 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 need to be done right it has the biggest detrimental effect on individuals's wellness and many other factors if individuals aren't paid uh I've always been astonished entering into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers 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 goes wrong but when it goes right it's just a tick box workout and I believe 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 stuff is absolutely crucial that all of this stuff is done correctly so leveraging the very first Worldwide Payments very first payroll payment solution is a great initial step um supplying an end-to-end payroll solution for your staff members internationally once again I think is another big um procedure once again lining up and ensuring you have standardization Global procedures all of those things are definitely key to success success of companies and decreasing the variety of tools platforms and savings account they need for their Global payroll too couldn't 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 5 or 10 or whatever it might be with the with the the grievances where things haven't 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 understand how how essential 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 likewise so envision sorry I'm just I was just gon na say imagine the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're discussing hundreds of thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting to clean 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 require days of the week to attempt to look through them and actually see what was going on and sort of try to return to everybody so moving on look why do business select to primary different checking account there are businesses out there doing exactly this for particular nations and I have actually worked in a business or numerous businesses doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not creating additional work for any person where we don't have to and anyone 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 believe many reasons one is it's the standard I believe people have actually got so utilized to we require a brand-new checking account we open an entity and appropriately so you need it for payroll functions but there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to kind of do it so I think there's a range I think this is a process that requires taking a look at it requires changing but ultimately individuals are really stuck with what they recognize
with best um change is a tough thing we all don't like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend obviously the advantages of having preserving multiple checking account but there's a big quantity of complexity goes with establishing a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for specific individuals so the complexity is huge but I believe the truthful response is change um individuals have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is knowledge you understand and there is an element of resistance to alter but we've always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be determined to be the next Century approximately there is a lot to keep an eye on and this method does pose a number of obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this boosted ability, I have actually effectively protected payments for our 10,000 employees worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your achievements.
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