Find out more about Papaya Global Contac ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer specifically committed to handling payments. This offers us with a secure and trustworthy method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Portal
Staff members have access to a Staff member Website where they can view 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.
Advantages Administration
Papaya Global assists business use competitive advantages packages to global workers regardless of the variety of staff members in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the need to source regional benefits service providers in every country, produce regional accounts and have a minimum variety of employees.
The HR abilities offered by International HR incorporate different functions such as keeping an eye on getaway time, guaranteeing compliance, helping with the process of inviting brand-new employees and bidding farewell to leaving ones, using a safe online platform for saving workers' documents, and offering support for work allow procedures in case your staff members need assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall employment expenses dispersed per location, overall work costs per cycle and much more.
environments across the globe I supplied leadership and technique 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 business managing and structure external relationships supporting Business clients and solutions in addition to acting as an advisor for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and labor force management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, regardless of your place. It's an enjoyment to fulfill you and thank you for your important time. As Ian mentioned, 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 services for the past seven years. The complexities and difficulties of this field have always mesmerized me.
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've sort of had a variety of various functions on the company side and also on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds or so to join we all work back to back these days so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everyone originates from and I actually do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why business keep separate
Virtual payroll accounts are an alternative to standard bank accounts for handling payroll payments. This is particularly beneficial for global companies with dispersed and remote workforces, as it streamlines the intricate process of cross-border payments. Instead of preserving separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more streamlined option. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies precisely anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical possession so payroll can be tough in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most importantly guidelines compliance information security and banking rules then there are the large numbers they include additional complexity the global Workforce is currently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 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 an overwhelming number of different systems resulting in lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely extremely standard there's no real consistency framework we're residing in an era of tech however 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 just blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce information in real time that's another number that gives me sleepless nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see an absence of exposure also extends to payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide businesses have actually expressed that they don't 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 data data entry mistakes improperly interacted hires and terminations along with absence management and system setups and after that when you round all of it off and the data is shipped to the wrong place the average cost of an international information 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 rely on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges company face when they're paying to employees or otherwise that's a great question I constantly toss this back and state what is it what does not need to be consisted of best 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 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 need to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely essential and innovation is allowing us to type of progress with that it also also to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely imperative that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals say 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 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 process it's the point of information collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to contribute to kind of the level of complexity there's increasingly more benefits being organ or being used by services across the world so once again you're simply wanting to include a growing number of payments to this currently complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine obstacles or real difficult type of pay utilizes to play to pay people I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually managing the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and a period that you know that we are operating in today there is no reason that we are still making this as tough as it requires to be concurred and appropriately as you said payroll is the single greatest liability that any company has from a cost point of view from an impact point of view on workers it is definitely critical that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the biggest harmful impact on individuals's well-being and many other factors if people aren't paid uh I have actually constantly been amazed entering this Market type 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 actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an important cycle we all find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I think 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 things is absolutely vital that all of this stuff is done correctly so leveraging the first Worldwide Payments first payroll payment service is a great first step um supplying an end-to-end payroll service for your staff members worldwide again I think is another substantial um process again lining up and ensuring you have standardization International procedures all of those things are definitely key to success success of organizations 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 regards to of the thank yous for getting payroll done I've never ever 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 complaints where things have not gone quite where they're implied to be um I do not think any of us are really doing that for for the thanks
anyway we understand 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 simple as possible for everybody that's involved in those processes and likewise so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're talking 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 however it would certainly be an interesting job attempting to clean all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to check out them and really see what was going on and sort of try to return to everybody so proceeding appearance why do companies select to primary different checking account there are organizations out there doing precisely this for particular countries and I've worked in an organization or lots of organizations doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anybody where we don't have to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of factors one is it's the standard I believe people have actually got so used to we require a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I believe this is a process that requires looking at it needs changing but eventually individuals are very stuck to what they recognize
with best um change is a challenging thing all of us do not like modification um so I think it's simply sort of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving multiple savings account however there's a substantial quantity of intricacy chooses setting up a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the best user accesses for individual individuals so the complexity is huge however I think the honest response is change um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is an element of resistance to alter but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century or two there is a lot to keep an eye on and this method does present a number of difficulties um so Johnny might you tell us about those obstacles yeah obviously so there's a range right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have effectively protected payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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