Find out more about Papaya Global Customers ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a different Chief Financial Officer specifically dedicated to handling payments. This provides us with a secure and reliable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single dashboard for my payroll, EOR and professionals
The Staff member Portal offers staff members with the ability to access and view important documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is used in various languages.
Advantages Administration
Papaya Global helps companies provide competitive benefits packages to international staff members regardless of the variety of staff members in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local benefits companies in every nation, develop regional accounts and have a minimum variety of employees.
Global HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work costs dispersed per location, total work costs per cycle and far more.
environments across the globe I offered management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark said I work across business handling and structure external relationships supporting Business customers and services as well as acting as a consultant for those of you that do not know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for most influential business worldwide we provide payroll payments and labor force management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent evening depending on where you are in the world it's charming to meet 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've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a real go at that over the last 5 or six years where I have actually sort of had a range of different roles on the supplier side and also on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give everybody another number of uh well among the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather interesting and I can see it going on currently just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I actually do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's really really 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 challenge years of handling International payroll why business preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Global payroll payments as a strategic property uh we'll also discuss a wrap-up which must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of typical and managing them ends up being more and more complicated Global organizations are looking to find Solutions and new methods to streamline processes especially from a payroll and cross-border payment viewpoint lots of companies keep separate savings account just for payroll while some have multiple accounts in various nations does it make good sense for companies to preserve different savings account sometimes in different countries it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments properly effectively safely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be tough in enough in one nation however when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most significantly guidelines compliance information security and banking rules then there are the sheer numbers they include additional complexity the worldwide Labor force 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 people that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll design there's typically an overwhelming number of different systems resulting in time-consuming 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 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 typically with pen and paper which just blows my mind every 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 businesses say they have Workforce information in real time that's another number that provides me sleep deprived nights and rather honestly the more a company spends on global payroll the less of a picture they see an absence of exposure likewise reaches payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes inadequately communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the information is delivered to the wrong location the typical expense of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash all over the world payroll and payments do not run efficiently if they count on the essential multiple processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges organization face when they're making payments to staff members or otherwise that's an excellent question I constantly throw this back and say what is it what doesn't need to be included best 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 have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity any place you look best eventually constructing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are absolutely essential and innovation is allowing us to kind of progress with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance groups work better together than ever um I'm always amazed when individuals say 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 profession 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 frequently 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 any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being a growing number of essential to add to sort of the level of complexity there's a growing number of advantages being organ or being provided by services throughout the world so again you're simply wanting 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 certain however have you got any experience in kind of genuine challenges or genuine tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly say 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 details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always require to be the case you know long gone are the times where we need to create additional handoffs in the processes that we run in they just 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 age that you understand that we are operating in today there is no reason we are still making this as tough as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any organization has from an expense point of view from an effect point of view on staff members it is definitely critical 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 need to be done right it has the most significant detrimental impact on individuals's wellness and lots of other factors if individuals aren't paid uh I've always been amazed coming into this Market sort of the last five to ten years is how little thanks the
payroll group get um so I'm not sure anyone on this sort of webinar has been informed 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 but eventually payroll is such an essential cycle all of us hear about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box exercise and I think 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 absolutely important that all of this stuff is done correctly so leveraging the first Worldwide Payments very first payroll payment service is a fantastic initial step um providing an end-to-end payroll solution for your employees internationally again I think is another substantial um process again aligning and guaranteeing you have standardization International procedures all of those things are absolutely crucial to success success of services and reducing the variety of tools platforms and bank accounts they need for their International payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I do not believe any of us are actually doing that for for the thanks
anyway we know 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 easy as possible for everybody that's associated with those procedures and also so envision sorry I'm just I was simply gon na say picture the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh absolutely I can't imagine 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 try to return to everyone so moving on look why do companies pick to primary separate checking account there are services out there doing exactly this for specific countries and I've operated in a company or numerous organizations doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not intentionally doing that we're not creating extra work for any person where we do not have to and anyone that's managing that procedure 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 requirement I believe people have got so used to we need a new savings account we open an entity and appropriately so you require it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and lots of other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires altering however eventually individuals are extremely stuck to what they're familiar
with best um modification is a challenging thing we all do not like change um so I believe it's simply kind of moving far from the norm as we have actually said so yeah so it keeps a lot of track of things um I understand obviously the benefits of having maintaining multiple bank accounts but there's a big quantity of complexity opts for setting up a checking account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private people so the complexity is huge but I believe the truthful answer is modification um individuals have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what might nearly be figured out to be the next Century approximately there is a lot to track and this approach does pose several challenges um so Johnny could you tell us about those obstacles 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner office with a closer parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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