Find out more about Papaya Global Hr 40M Scale 45M ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly devoted to handling payments. This provides us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the very best global payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and specialists
Employee Website
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and employment documents. The portal is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists companies use competitive advantages plans to worldwide staff members despite the variety of employees in the business. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the requirement to source local advantages companies in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities offered by International HR include various functions such as keeping an eye on getaway time, making sure compliance, assisting in the procedure of welcoming brand-new staff members and bidding goodbye to leaving ones, providing a secure online platform for saving employees' documents, and providing support for work allow treatments in case your employees need help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall employment expenses distributed per area, overall work costs per cycle and a lot more.
environments around the world I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Business clients and solutions in addition to functioning as an advisor for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
business to make the time 100 list for the majority of influential companies on the planet we supply payroll payments and workforce management to all employee types in over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good night depending upon where you remain in the world it's lovely 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 industry for over 10 years and particularly working on the payroll and payment sector for over 7 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 real go at that over the last five or 6 years where I've sort of had a variety of various functions on the provider side and likewise on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply provide everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently simply to hear where everybody is um it's nice to to type of like see where everyone originates from and I truly do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's very very dreary and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the obstacle years of managing Worldwide payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the extremely very 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 workforces end up being increasingly more common and handling them ends up being increasingly more complicated Worldwide companies are looking to find Solutions and brand-new ways to simplify processes specifically from a payroll and cross-border payment perspective numerous companies preserve separate bank account just for payroll while some have multiple accounts in different nations does it make sense for business to preserve different checking account often in different countries it does however just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international companies improve the episode complex processes of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank 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 tactical possession so payroll can be tough in adequate in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most significantly guidelines compliance data security and banking guidelines then there are the large numbers they include more complexity the global Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing worldwide in the traditional payroll model there's frequently an overwhelming number of various systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or extremely extremely standard there's no real consistency framework we're residing in a period of tech but payroll has actually 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 each 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 businesses state they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more an organization invests in global payroll the less of a picture they see an absence of presence also reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction nearly half of global organizations have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are because of time reporting bad HCM data information entry mistakes poorly communicated hires and terminations in addition to lack management and system setups and then when you round everything off and the data is shipped to the incorrect location the typical cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments don't run efficiently if they rely on the necessary several procedures 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 obstacles business face when they're paying to staff members or otherwise that's a great concern I always toss this back and state what is it what doesn't require to be included right and what does
it require 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 time frames there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 essential and technology is permitting us to type of progress with that it likewise as well to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars differing banking requirements and setup processes is absolutely imperative that payroll and financing teams work closer together than ever um I'm always amazed when individuals say I have actually split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from calculation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of crucial to add to type of the level of intricacy there's more and more advantages being organ or being provided by organizations across the world so once again you're simply looking to add a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging type of pay uses to play to pay people I think yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are teams feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't always require to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and an age that you understand that we are working in today there is no reason that we are still making this as tough as it requires to be concurred and rightly as you said payroll is the single greatest liability that any business has from a cost viewpoint from an effect perspective on employees it is absolutely critical that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the greatest harmful effect on people's well-being and numerous other factors if individuals aren't paid uh I have actually constantly been amazed entering into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have actually been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people just discover when things go wrong. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally as well. Therefore, it is necessary to make sure that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first International Payments first payroll payment solution is a terrific initial action towards offering an extensive payroll option for staff members worldwide. Standardization, worldwide procedures, and lowering the variety of tools, platforms, and bank accounts required for international payroll are crucial consider attaining company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as prepared. Eventually, we don't do it for the gratitude.
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 simple as possible for everybody that's associated with those processes and likewise so think of sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions envision getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an intriguing job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to try to look through them and actually see what was going on and type of shot to return to everyone so proceeding appearance why do business choose to main separate checking account there are businesses out there doing exactly this for specific nations and I have actually worked in a service or numerous organizations doing exactly that I can state it does not constantly feel effective and it does produce 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 anyone that's managing that process 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 reasons one is it's the standard I think people have got so used to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I think it's just been the standard and the norm individuals have actually adopted and continue to do over years and years passed by to add to that people have actually looked at things like trust accounts and numerous other ways um to to type of do it so I believe there's a variety I believe this is a process that needs taking a look at it requires altering however ultimately people are really stuck with what they're familiar
with right um change is a challenging thing we all don't like change um so I believe it's just sort of moving away from the standard as we've said so yeah so it keeps a lot of track of stuff um I understand undoubtedly the advantages of having maintaining several checking account but there's a substantial amount of complexity chooses establishing a checking account keeping it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is big however I believe the sincere answer is modification um people have not been able to change or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I think you've hit the nail on the head I think it is knowledge you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be figured out to be the next Century or so there is a lot to keep an eye on and this method does position a number of challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just did you switched our Business 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 staff members you should have a corner office with a closer parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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