Find out more about Papaya Global Cloud Add Pension ... 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 acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a secure and trustworthy method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
The Staff member Portal supplies employees with the ability to gain access to and view crucial documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in numerous languages.
Benefits Administration
Papaya Global helps business provide competitive benefits plans to worldwide staff members no matter the variety of workers in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the requirement to source regional benefits companies in every nation, develop regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, overall work costs dispersed per area, overall work expenses per cycle and much more.
environments around the world I provided leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work across the business handling and structure external relationships supporting Enterprise customers and services in addition to serving as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
As a global company, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a pleasure to meet you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments market, I have concentrated on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have always mesmerized me.
payroll payments and decided to type of make a genuine go at that over the last 5 or 6 years where I've sort of had a range of various functions on the service provider side and likewise on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really very uninspiring 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 handling Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts streamlining papaya Global payroll payments as a strategic asset uh we'll likewise review a wrap-up and that needs to leave his time at the extremely really 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 workforces end up being increasingly more common and managing them becomes more and more complicated International organizations are aiming to find Solutions and new ways to improve procedures specifically from a payroll and cross-border payment standpoint lots of organizations keep different savings account just for payroll while some have several accounts in various countries does it make good sense for business to keep different checking account often in various countries it does however just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting multinational business simplify the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly anticipate their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of reasons most notably policies compliance information security and banking guidelines then there are the large numbers they add more complexity the worldwide Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing all over the world in the traditional payroll design there's typically an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or extremely very basic there's no real consistency structure we're living in an era of tech but payroll has actually 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 believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of international companies have actually expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM information data entry errors improperly communicated hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the data is shipped to the wrong location the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the world 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 viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're making payments to employees or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be consisted of best and what does
it require to be considered there's varying Bank details so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment abilities 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 client's own in-country account so there's complexity wherever you look ideal ultimately building a knowledge base is absolutely important however everywhere you look with payroll payment they resemble incredibly payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely fundamental and technology is allowing us to kind of move on with that it also as well to contribute to that payroll and financing require to work closer together um with varying Savings account Details differing banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always impressed when individuals state I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on wellness and the compensation landscape is ending up being progressively intricate. Services are continually presenting brand-new advantages and payment choices, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into separate groups, which can cause inadequacies and traffic jams. In my opinion, this does not need to hold true. In today's highly innovative era, there's no reason for maintaining troublesome procedures. Payroll, the company's greatest cost, must be processed properly and on time. Even minor delays can adversely impact employees' well-being and have significant effects. Therefore, it's critical to prioritize precise and timely payments.
payroll group get um so I'm unsure anyone on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an important cycle we all hear about it when it fails everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done properly so leveraging the very first Worldwide Payments first payroll payment service is a great first step um providing an end-to-end payroll solution for your staff members globally once again I think is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely essential to success success of organizations 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 do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things have not gone rather where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how important 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 envision sorry I'm just I was just gon na state picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions envision getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and actually see what was going on and kind of try to return to everyone so carrying on appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for specific nations and I've operated in an organization or numerous companies doing precisely that I can say it does not constantly feel efficient and it does develop more work I understand we're not purposely doing that we're not creating extra work for anybody where we do not have to and anybody that's handling 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 think lots of factors one is it's the requirement I believe individuals have actually got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard the people have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a process that requires looking at it requires changing however eventually individuals are very stuck to what they recognize
with best um change is a difficult thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having maintaining several bank accounts however there's a substantial quantity of complexity goes with setting up a checking account preserving it ensuring it can send out International transfers ensuring it's established with the best user accesses for individual individuals so the intricacy is big but I believe the honest answer is change um individuals haven't been able to alter or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to alter but 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 carrying on and moving into you understand what might almost be figured out to be the next Century approximately there is a lot to monitor and this technique does position a number of difficulties um so Johnny could you tell us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched 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 are worthy of a corner workplace with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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