Find out more about Papaya Global Curse ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer particularly devoted to managing payments. This provides us with a safe and reliable technique of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and specialists
Employee Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to global workers regardless of the number of staff members in the business. The business can set up medical insurance, short-term and long-lasting impairment, vision, oral and maternity leave while getting rid of the requirement to source local benefits providers in every nation, create local accounts and have a minimum variety of workers.
The HR capabilities offered by Worldwide HR incorporate various functions such as keeping an eye on holiday time, guaranteeing compliance, helping with the process of inviting brand-new workers and bidding goodbye to leaving ones, using a safe and secure online platform for storing employees' files, and supplying support for work allow procedures in case your employees need help because area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, total work expenses dispersed per location, total work costs per cycle and a lot more.
Worldwide, I have actually demonstrated management and tactical proficiency in assisting large-scale populations of over 100,000 workers throughout 170 countries. Presently, I are accountable for supervising payroll techniques, as discussed by Mark. My role involves managing and developing external partnerships, supporting Business clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions company.
company to make the time 100 list for many prominent business in the world we offer payroll payments and workforce management to all worker types in over 160 nations I am pleased to state that we likewise 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 upon where you remain in the world it's charming to fulfill you and thank you very much 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 market for over 10 years and particularly dealing with 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 decided to type of make a genuine go at that over the last five or 6 years where I have actually type of had a range of different roles on the service provider side and also on the vendor side from a payroll viewpoint so actually anticipating this conversation today um and yeah thank you very much for your time everybody fine thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or so to join all of us 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 kind of like see where everyone originates from and I actually 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 really very gloomy and I wish 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 difficulty years of handling Global payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also discuss a recap which must leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and managing them ends up being increasingly more complicated International organizations are wanting to discover Solutions and brand-new ways to simplify processes especially from a payroll and cross-border payment perspective numerous organizations maintain separate checking account just for payroll while some have numerous accounts in different countries does it make sense for companies to preserve different savings account in some cases in different countries it does but just for payroll exists a much better way what function do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business improve the episode complex procedures of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be difficult in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most importantly regulations compliance data security and banking rules then there are the sheer numbers they include more intricacy the international Workforce is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people 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 traditional payroll design there's often an overwhelming number of different systems causing lengthy manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely extremely fundamental there's no genuine consistency framework we're residing in an era 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 frequently with pen and paper which simply 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 data in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in global payroll the less of a picture they see a lack of presence also reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of international services have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as absence management and system setups and after that when you round everything off and the information 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 require to move the money around the world payroll and payments don't run smoothly if they rely on the required numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization face when they're paying to employees or otherwise that's a great concern I always toss this back and say what is it what doesn't require to be included best 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 nation there's payment timespan 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 complexity wherever you look ideal eventually developing a knowledge base is definitely critical but everywhere you look with payroll payment they resemble extremely payments no if however some infants 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 basic and technology is permitting us to sort of progress with that it likewise also to contribute to that payroll and financing need to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say 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 occupation 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 typically split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
The modern world puts a high worth on wellness and the payment landscape is ending up being increasingly intricate. Organizations are constantly presenting brand-new benefits and payment alternatives, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and traffic jams. In my viewpoint, this does not need to hold true. In today's technologically advanced age, there's no justification for maintaining cumbersome procedures. Payroll, the company's biggest expenditure, must be processed properly and on time. Even minor hold-ups can negatively impact workers' well-being and have significant effects. Therefore, it's crucial to prioritize precise and timely payments.
payroll team get um so I'm uncertain anybody on this kind of webinar has been informed thank you for processing my payroll correctly if you have it 'd be great 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 become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this things is done properly so leveraging the very first Global Payments first payroll payment option is an excellent primary step um providing an end-to-end payroll option for your staff members internationally again I think is another huge um procedure again aligning and ensuring you have standardization Global procedures all of those things are absolutely crucial to success success of organizations and lowering the number of tools platforms and bank accounts they need for their Worldwide 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 ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the complaints where things haven't gone rather where they're indicated to be um I don't believe any of us are really doing that for for the thanks
anyhow we understand 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 simple as possible for everyone that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na state picture the quantity 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 numerous thank you notes um I suggest 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 definitely 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 look through them and really see what was going on and kind of shot to get back to everyone so moving on look why do companies pick to primary separate savings account there are companies out there doing precisely this for specific nations and I've operated in a business or numerous organizations doing exactly that I can say it does not always feel effective and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we don't have to and anyone 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 amount that we are I think many factors one is it's the standard I believe individuals have got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have actually adopted and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a variety I think this is a process that requires taking a look at it needs altering however ultimately individuals are very stuck to what they're familiar
with right um modification is a hard thing we all do not like change um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having maintaining numerous bank accounts but there's a huge quantity of complexity chooses establishing a savings account preserving it ensuring it can send International transfers guaranteeing it's established with the right user accesses for individual people so the complexity is substantial but I think the truthful answer is change um individuals have not had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've always done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might almost be identified to be the next Century or two there is a lot to keep track of and this approach does pose several difficulties um so Johnny might you inform us about those challenges yeah obviously so there's a variety right there is so
I just did you switched our Enterprise 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 Worldwide workers you deserve a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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