Find out more about Papaya Global Crash After Logon After Update ... 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 gotten a separate Chief Financial Officer particularly devoted to handling payments. This offers us with a protected and trusted technique of paying to our 10,000 staff members worldwide.}
the BEST worldwide payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Employee Portal offers workers with the ability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business use competitive advantages plans to global staff members no matter the variety of employees in the business. The company can set up medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while removing the requirement to source local advantages companies in every nation, produce local accounts and have a minimum number of employees.
The HR abilities supplied by Worldwide HR incorporate various functions such as keeping an eye on trip time, ensuring compliance, helping with the process of inviting brand-new workers and bidding goodbye to leaving ones, offering a secure online platform for saving employees' files, and offering support for work allow procedures in case your workers need help in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, total work costs dispersed per place, total work costs per cycle and far more.
environments around the world I provided management and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across the business handling and building external relationships supporting Enterprise customers and solutions as well as functioning as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential business on the planet we offer payroll payments and workforce management to all worker enters over 160 countries I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon great evening depending upon where you are in the world it's lovely to fulfill 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've remained in the payments market for over 10 years and particularly working on the payroll and payment sector for over 7 years um I was interested by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last five or six years where I've kind of had a range of different functions on the service provider side and also on the vendor side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll type of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it remains 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 extremely extremely gloomy and I wish I was elsewhere at this moment in time fine so let's start our program 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 option to traditional savings account for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic asset for payroll executives. We will likewise offer a recap 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 during this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll bank account how companies accurately anticipate their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in enough in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most importantly regulations compliance data security and banking guidelines then there are the large numbers they include more complexity the worldwide Workforce is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating variety of various systems resulting in time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or really very basic there's no genuine consistency structure we're living in a period of tech however payroll has actually been sluggish 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 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 Labor force information in real time that's another number that gives me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and inability to properly track these payments can lead to compliance incidents in the last mile of the transaction almost half of worldwide companies have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors badly communicated hires and terminations as well as lack management and system setups and then when you round it all off and the data is delivered to the wrong location the typical cost of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the globe payroll and payments do not run efficiently if they count on the necessary multiple processes 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 challenges company face when they're making payments to employees or otherwise that's an excellent concern I always throw this back and state what is it what does not require to be included ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 consumer's own in-country account so there's complexity wherever you look best ultimately constructing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble very payments no if however some babies 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 definitely essential and innovation is enabling us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing teams work more detailed together than ever um I'm constantly surprised when people state I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split the payroll payment from estimation 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 information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to add to sort of the level of intricacy there's a growing number of advantages being organ or being used by businesses throughout the world so once again you're simply looking to include more and more payments to this currently complicated 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 genuine obstacles or genuine difficult kind of pay uses to play to pay individuals I think yeah I mean over the last well yeah a number of years I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments works 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 but you know in in my opinion and my experience that doesn't necessarily require to be the case you understand long gone are the times where we require to produce extra handoffs at the same times that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason that we are still making this as challenging as it needs to be agreed and appropriately as you stated payroll is the single most significant liability that any company has from an expense viewpoint from an effect point of view on workers it is absolutely important that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the most significant harmful effect on people's wellness and lots of other aspects if individuals aren't paid uh I have actually constantly been amazed entering this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anybody on this type of webinar has been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all staff members or not um however ultimately payroll is such an important cycle all of us hear about it when it goes wrong everybody jumps up and down when it goes wrong but when it goes right it's just a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely important that all of this things is done properly so leveraging the first Worldwide Payments first payroll payment service is a great primary step um offering an end-to-end payroll service for your employees internationally again I think is another big um process once again aligning and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of organizations and minimizing the variety of tools platforms and savings account they require for their International 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've never had a hundred countless them within a payroll cycle don't expect 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 understand how how crucial 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 associated with those processes and also so envision sorry I'm just I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be an intriguing task trying to clean all those up for sure oh definitely 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 sort of shot to return to everyone so moving on look why do companies select to primary separate savings account there are businesses out there doing precisely this for particular nations and I've worked in a business or numerous companies doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not developing extra work for anybody where we don't have to and anybody that's handling that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the requirement I believe people have actually got so utilized to we require a new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm the people have embraced and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires altering however ultimately individuals are extremely stuck to what they're familiar
with ideal um modification is a challenging thing we all do not like modification um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having preserving several bank accounts but there's a big amount of complexity goes with setting up a bank account maintaining it guaranteeing it can send out International transfers guaranteeing it's established with the right user accesses for individual individuals so the intricacy is huge but I think the truthful answer is modification um people have not been able to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is knowledge you know and there is a component of resistance to alter but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of proceeding and moving into you understand what might nearly be determined to be the next Century or so there is a lot to track and this approach does position 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 change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It seems like our CFO has actually gained another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is closer, considering your achievements.
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