Find out more about Papaya Global Courses Liverpool ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to managing payments. This offers us with a safe and trustworthy technique of making payments to our 10,000 staff members worldwide.}
The innovative international payroll management app simplifies my payroll procedure, conserving me a significant quantity of time monthly. With its user-friendly user interface, I have access to a single dashboard that effectively handles my payroll, EOR, and specialists.
The Employee Portal provides staff members with the ability to access and view important files such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists companies use competitive benefits plans to international employees despite the variety of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local advantages companies in every country, produce local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment expenses dispersed per place, overall employment costs per cycle and a lot more.
environments across the globe I provided leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise customers and services as well as acting as a consultant for those of you that don't understand who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for a lot of prominent business on the planet we offer payroll payments and labor force management to all worker types in 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 great night depending upon where you are in the world it's beautiful to meet you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments industry for over 10 years and specifically dealing with the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a range of various functions on the company side and likewise on the vendor side from a payroll point of view so really eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays 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 kind of like see where everybody originates from and I actually 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 drizzling here it's very very bleak and I want I was somewhere else at this moment in time fine 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 Worldwide payroll why companies keep separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical asset uh we'll also go over a wrap-up which ought to leave his time at the really 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 Worldwide labor forces become more and more common and managing them becomes increasingly more intricate International companies are aiming to discover Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment standpoint lots of organizations preserve different savings account just for payroll while some have numerous accounts in different nations does it make sense for business to maintain different checking account in some cases in different nations it does but just for payroll is there a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business simplify the episode complex procedures of
making payroll payments precisely efficiently securely and on time during this webinar we'll stroll you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately forecast their payroll expenses to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in enough in one country however when you're doing it globally it's next level and Beyond it becomes complex for a variety of factors most importantly policies compliance data security and banking rules then there are the large numbers they include additional intricacy the international Workforce 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 consider that there are some 230 million companies and growing all doing their own thing around the globe in the conventional payroll design there's often a frustrating number of various systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or really very fundamental there's no genuine consistency structure we're residing in an age of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I think
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather honestly the more a service spends on international payroll the less of a picture they see an absence of exposure also extends to payroll payments and inability to properly track these payments can result in compliance incidents in the last mile of the deal nearly half of international businesses have actually revealed that they don't have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry errors badly interacted hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the typical expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash worldwide payroll and payments do not run smoothly if they count on the necessary numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the challenges service face when they're paying to staff members or otherwise that's a great question I constantly toss this back and state what is it what doesn't require to be included right and what does
it need to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 intricacy anywhere you look best ultimately developing a knowledge base is definitely important 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 take a look at the kind of link in 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 enabling us to type of progress with that it also as well to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't 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 process it's the point of data collection all the way through to paying individuals anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more essential to add to type of the level of complexity there's a growing number of benefits being organ or being used by organizations across the world so once again you're just looking to include a growing number of payments to this already complex landscape so if you kind of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of real obstacles or real tough kind of pay utilizes to play to pay individuals I think yeah I suggest over the last well yeah a number of years I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding info into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to develop extra handoffs in the processes that we run in they simply make them more prompt they make them less effective and they do not make them what they need to be in in an age of tech and an era that you know that we are operating in today there is no reason why we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single greatest liability that any company has from a cost viewpoint from an effect viewpoint on employees it is absolutely crucial that it's done properly 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 most significant harmful impact on individuals's well-being and lots of other factors if people aren't paid uh I have actually always been surprised coming into this Market type of the last five to ten years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an important cycle, and individuals just observe when things fail. Nevertheless, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. Therefore, it is essential to guarantee that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Using the first International Payments first payroll payment solution is a great preliminary action towards supplying an extensive payroll option for employees worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account necessary for international payroll are crucial factors in attaining business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a couple of complaints when things don't go as prepared. Ultimately, we don't do it for the appreciation.
anyway we know how how crucial a role 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 everybody that's associated with those processes and also so imagine sorry I'm just I was simply gon na say 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 talking about hundreds of thousands possibly Millions envision getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be an intriguing job 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 held true um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of shot to return to everybody so proceeding appearance why do business choose to primary separate savings account there are organizations out there doing precisely this for particular countries and I have actually operated in a service or lots of businesses doing exactly that I can state it doesn't constantly feel efficient and it does create more work I know we're not purposely doing that we're not producing additional work for any person where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think people have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to contribute to that people have looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering however ultimately people are really stuck to what they're familiar
with ideal um change is a tough thing all of us don't like modification um so I believe it's simply kind of moving far from the standard as we've said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining multiple checking account however there's a big quantity of intricacy goes with setting up a savings account keeping it ensuring it can send International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is big however I believe the honest answer is modification um people haven't had the ability to change or have not had necessarily the knowledge to really make that change into alternate Solutions other than opening a bank account I believe you have actually hit the nail on the head I believe it is knowledge you know and there is an element of resistance to alter however we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be identified to be the next Century approximately there is a lot to keep track of and this approach does present several challenges um so Johnny could you tell us about those challenges yeah naturally so there's a variety right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this improved capability, I have actually effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your achievements.
Papaya Global Aeo