Find out more about Papaya Global Cloud Upgrade From Instant ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly devoted to managing payments. This offers us with a secure and trustworthy approach of paying to our 10,000 workers worldwide.}
The innovative global payroll management app enhances my payroll process, saving me a considerable quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and contractors.
Employee Portal
Workers have access to a Worker Website where they can view their pay slips, wage and tax statements and employment documents. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive benefits packages to global employees regardless of the variety of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while getting rid of the need to source local advantages providers in every nation, create local accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce diversity, total employment costs dispersed per area, overall employment costs per cycle and a lot more.
environments across the globe I provided management and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business managing and building external relationships supporting Business customers and services in addition to acting as an advisor for those of you that don't know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential business worldwide we provide payroll payments and labor force management to all staff member enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning good afternoon good night depending on where you remain in the world it's beautiful 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 ten years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the intricacy 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 six years where I have actually kind of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll point of view so actually anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays 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 sort of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really uninspiring and I want I was elsewhere at this moment in time fine 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 Worldwide payroll why companies keep different
Virtual payroll accounts are an alternative to standard checking account for handling payroll payments. This is particularly useful for global organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of maintaining different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the benefits of using virtual payroll accounts and talk about why they are becoming a tactical asset for payroll executives. We will likewise provide a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical property so payroll can be difficult in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance information security and banking guidelines then there are the sheer numbers they add further intricacy the international Labor force is presently 3 and a half billion individuals by 2030 it's approximated 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 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 typically an overwhelming variety of various systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in large quantities and or really extremely fundamental there's no real consistency structure we're living in a period 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 typically with pen and paper and that just 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 companies say they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more an organization spends on global payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international services have actually revealed that they don't 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 bad HCM information information entry errors inadequately interacted hires and terminations in addition to absence management and system configurations and after that when you round all of it off and the information is delivered to the incorrect place the typical expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they rely on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service 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 ideal and what does
it require to be thought of there's varying Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's intricacy anywhere you look right ultimately developing a knowledge base is definitely important but all over you look with payroll payment they are like very payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely fundamental and innovation is enabling us to type of move forward with that it also too to contribute to that payroll and financing require to work closer together um with varying Bank Account Details differing banking requirements and setup processes is definitely imperative that payroll and financing groups work better together than ever um I'm always astonished when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll occupation would they split the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end process 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 third parties so with the
The modern world puts a high value on well-being and the compensation landscape is ending up being progressively complex. Organizations are constantly presenting brand-new advantages and payment choices, which contributes to the overall intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can cause inadequacies and bottlenecks. In my viewpoint, this does not need to hold true. In today's technologically sophisticated era, there's no justification for preserving cumbersome treatments. Payroll, the business's most significant expenditure, should be processed properly and on time. Even minor delays can adversely impact staff members' well-being and have significant consequences. For that reason, it's vital to prioritize precise and timely payments.
payroll team get um so I'm uncertain anyone on this sort of webinar has actually been told 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 workers or not um but eventually payroll is such a crucial cycle all of us hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely vital that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment option is a terrific first step um providing an end-to-end payroll service for your employees globally again I think is another substantial um process once again lining up and ensuring you have standardization Global procedures all of those things are absolutely essential to success success of services and lowering the variety of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never had a hundred countless them within a payroll cycle do not 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 meant to be um I do not believe any of us are actually doing that for for the thanks
anyway we know how how crucial 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 easy as possible for everyone that's associated with those procedures and also so envision sorry I'm simply I was just gon na state envision 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 discussing numerous thousands potentially Millions imagine getting that lots of thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing task trying to clean 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 require days of the week to try to look through them and actually see what was going on and type of try to get back to everyone so carrying on appearance why do companies select to primary different bank accounts there are organizations out there doing exactly this for specific nations and I have actually worked in a company or lots of services 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 creating additional work for any person where we don't have to and any person 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 many reasons one is it's the standard I believe individuals have actually got so utilized to we require a brand-new checking account we open an entity and rightly 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 simply been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and lots of other ways um to to sort of do it so I believe there's a variety I think this is a procedure that needs looking at it needs changing but ultimately individuals are very stuck with what they recognize
with right um change is a hard thing all of us do not like change um so I believe it's simply 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 clearly the benefits of having preserving several savings account but there's a substantial quantity of intricacy goes with setting up a checking account maintaining it guaranteeing it can send International transfers ensuring it's established with the right user accesses for individual individuals so the complexity is substantial however I think the honest answer is change um individuals have not been able to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I believe you've hit the nail on the head I believe it is understanding you understand and there is an element of resistance to alter but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of proceeding and moving into you know what might practically be determined to be the next Century approximately there is a lot to monitor and this approach does pose numerous challenges um so Johnny might you inform us about those challenges yeah of course so there's a variety 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you are worthy of a corner workplace with a more detailed parking space due to the fact that I mastered International payroll and payments with Papaya payroll OS did you
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