Find out more about Increasing Efficiency On A Budget Using Papaya Global ... 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 acquired a different Chief Financial Officer specifically committed to handling payments. This supplies us with a protected and trustworthy approach of paying to our 10,000 staff members worldwide.}
the BEST global payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Website
Employees have access to an Employee Portal where they can see their pay slips, wage and tax statements and employment documents. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business provide competitive benefits bundles to global staff members regardless of the number of employees in the business. The business can set up medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the need to source regional benefits providers in every nation, develop local accounts and have a minimum number of workers.
The HR capabilities offered by International HR incorporate various functions such as monitoring holiday time, guaranteeing compliance, facilitating the process of welcoming brand-new staff members and bidding goodbye to leaving ones, providing a safe online platform for saving employees' files, and providing assistance for work permit treatments in case your workers require assistance because location.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force variety, overall employment costs distributed per area, overall work expenses per cycle and a lot more.
Internationally, I have actually demonstrated leadership and strategic know-how in assisting massive populations of over 100,000 workers throughout 170 countries. Currently, I am responsible for supervising payroll techniques, as mentioned by Mark. My function includes managing and establishing external collaborations, supporting Enterprise clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions provider.
company to make the time 100 list for many prominent business worldwide we supply payroll payments and labor force management to all worker enters 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 excellent night depending upon where you remain in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually type of had a range of various functions on the provider side and also on the supplier side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just offer everyone another number 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 rather fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really really uninspiring and I wish I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business preserve different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic asset uh we'll likewise discuss a recap which needs to 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 International labor forces end up being increasingly more typical and handling them becomes a growing number of complicated Worldwide organizations are looking to discover Solutions and new methods to simplify processes especially from a payroll and cross-border payment viewpoint numerous organizations maintain different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to keep different savings account in some cases in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies improve the episode complex processes of
making payroll payments accurately efficiently securely and on time during this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complex for a variety of reasons most significantly guidelines compliance data security and banking rules then there are the sheer numbers they add additional complexity the international Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing worldwide in the standard payroll model there's often a frustrating variety of various systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely extremely basic there's no genuine consistency structure we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which simply blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a company spends on worldwide payroll the less of a photo they see an absence of exposure likewise encompasses payroll payments and inability to accurately track these payments can cause compliance mishaps in the last mile of the deal almost half of worldwide organizations have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry mistakes badly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the information is delivered to the incorrect place the typical expense 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 all over the world payroll and payments do not run efficiently if they count 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 staff members or otherwise that's a good question I constantly throw this back and state what is it what does not need to be included right and what does
it need to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's intricacy wherever you look best ultimately developing a knowledge base is definitely critical but all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and technology is allowing us to type of move on with that it likewise as well to add to that payroll and financing need to work closer together um with varying Bank Account Details varying banking requirements and setup procedures is definitely vital that payroll and finance teams work more detailed together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't work in the payroll profession would they split the payroll payment from computation 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 procedure it's the point of information collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the payment landscape is ending up being significantly intricate. Organizations are constantly presenting brand-new benefits and payment choices, which contributes to the general intricacy. Large corporations frequently divide their payroll and payment processing into separate groups, which can lead to inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's technologically innovative era, there's no validation for keeping troublesome treatments. Payroll, the business's biggest expense, should be processed properly and on time. Even small delays can adversely impact employees' well-being and have far-reaching repercussions. Therefore, it's crucial to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anyone on this sort of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails but 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 things is definitely vital that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment option is an excellent initial step um offering an end-to-end payroll option for your staff members worldwide again I think is another substantial um process again aligning and guaranteeing you have standardization International processes all of those things are absolutely crucial to success success of businesses and lowering the number of tools platforms and savings account they need for their Global 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 had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I don't believe any of us are really doing that for for the thanks
anyhow we know how how essential 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 associated with those procedures and also so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions think of 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 certainly be an interesting job trying to clean up 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 need days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everyone so carrying on appearance why do business select to main different savings account there are companies out there doing exactly this for particular nations and I have actually operated in a company or lots of organizations doing precisely that I can state it does not always feel effective and it does develop more work I know we're not intentionally doing that we're not creating extra work for any person where we do not need to and any person that's managing 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 amount that we are I believe many reasons one is it's the standard I believe individuals have actually got so used to we need a new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years passed by to contribute to that individuals have taken a look at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires changing but eventually individuals are extremely stuck with what they're familiar
with right um modification is a hard thing all of us do not like modification um so I believe it's simply sort of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I comprehend obviously the advantages of having preserving multiple savings account but there's a substantial quantity of intricacy opts for setting up a savings account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual people so the intricacy is substantial but I believe the honest answer is change um people have not had the ability to alter or haven't had always the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an element of resistance to change but we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century or two there is a lot to track and this approach does present several obstacles um so Johnny could you tell us about those obstacles yeah of course 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 jobs on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your devotion to mastering worldwide payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Bhutan