Find out more about Papaya Global Claender 2019 2020 ... We now have the ability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trusted method of paying to our 10,000 workers worldwide.}
The advanced global payroll management app enhances my payroll process, conserving me a substantial quantity of time monthly. With its easy to use user interface, I have access to a single control panel that efficiently manages my payroll, EOR, and professionals.
Staff member Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive benefits bundles to international employees despite the number of staff members in the business. The business can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source local advantages providers in every country, develop local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, overall work expenses distributed per area, overall employment costs per cycle and far more.
environments across the globe I offered leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise clients and solutions along with acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As a global company, we are honored to be consisted of on the distinguished Time 100 list of the most prominent companies worldwide. We focus on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as pointed out by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your area. It's an enjoyment to fulfill you and thank you for your valuable 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 focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or 6 years where I have actually sort of had a variety of different roles on the service provider side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite fascinating 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 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 really extremely dreary and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be looking at the challenge years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll also go over a recap which needs to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and handling them ends up being increasingly more complicated International organizations are wanting to find Solutions and new ways to streamline processes specifically from a payroll and cross-border payment standpoint many organizations maintain different checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep separate checking account sometimes in different nations it does but just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business simplify the episode complex procedures of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one country however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a variety of reasons most notably guidelines compliance information security and banking rules then there are the sheer numbers they include additional complexity the global Workforce is presently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals 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 all over the world in the traditional payroll model there's typically an overwhelming number of various systems causing lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or extremely very standard there's no genuine consistency framework we're living in an age of tech however 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 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 organizations say they have Workforce data in real time that's another number that offers me sleepless nights and quite frankly the more a service invests in international payroll the less of a picture they see a lack of exposure also extends to payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the deal almost half of international businesses have actually revealed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM data data entry mistakes inadequately interacted hires and terminations in addition to absence management and system setups and then when you round it all off and the information is delivered to the wrong place the typical expense of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the necessary 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 obstacles service face when they're making payments to staff members or otherwise that's an excellent concern 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 of there's varying Bank details 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble incredibly payments no if however some babies 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 allowing us to kind of progress with that it also also to add to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm always amazed when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work 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 eventually 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 wellness and the payment landscape is ending up being significantly elaborate. Businesses are constantly presenting new advantages and payment alternatives, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into separate teams, which can result in inefficiencies and bottlenecks. In my viewpoint, this doesn't need to be the case. In today's technologically sophisticated period, there's no reason for preserving cumbersome procedures. Payroll, the company's biggest cost, should be processed correctly and on time. Even slight hold-ups can adversely affect workers' wellness and have far-reaching repercussions. For that reason, it's critical to focus on precise and timely payments.
payroll group get um so I'm not exactly sure anybody on this type of webinar has actually been told 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 however eventually payroll is such an essential cycle we all become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's simply a tick box exercise 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 vital that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment solution is a great primary step um providing an end-to-end payroll option for your workers worldwide again I believe is another substantial um process once again aligning and guaranteeing you have standardization International processes all of those things are definitely key to success success of companies and reducing the number of tools platforms and checking account they require for their Worldwide 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 have actually never had a hundred countless them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're indicated to be um I do not think any of us are actually doing that for for the thanks
anyway we understand 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 everybody that's associated with those processes and also so think of sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task trying to clean up all those up for sure oh definitely I can't imagine 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 really see what was going on and sort of shot to get back to everybody so carrying on look why do business pick to primary separate checking account there are businesses out there doing exactly this for specific nations and I have actually worked in a company or lots of companies doing precisely that I can state it doesn't constantly feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for anybody where we don't need to and anybody that's dealing with 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 amount that we are I think lots of reasons one is it's the requirement I believe people have got so used to we require a brand-new checking account we open an entity and appropriately so you require 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 embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and many other methods um to to type of do it so I think there's a variety I believe this is a procedure that needs looking at it requires altering but eventually individuals are really stuck to what they recognize
with ideal um change is a hard thing we all do not like modification um so I think it's just sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand certainly the advantages of having preserving several bank accounts however there's a substantial quantity of intricacy chooses setting up a savings account preserving it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the intricacy is big but I believe the sincere response is modification um people haven't been able to change or have not had necessarily the understanding to really make that change into alternate Solutions other than opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to alter however we have actually constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep track of and this method does present numerous difficulties um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I simply 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 employees you deserve a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
Papaya Global Aeo