Find out more about Save Money With Papaya Global Hr Software ... 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 actually obtained a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a safe and reliable method of making payments to our 10,000 employees worldwide.}
the BEST global payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
Worker Portal
Staff members have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists business offer competitive advantages packages to international employees despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local advantages companies in every nation, produce regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, total work expenses dispersed per location, overall employment costs per cycle and much more.
environments across the globe I provided leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work throughout the business managing and structure external relationships supporting Enterprise clients and solutions in addition to serving as a consultant for those of you that do not know who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies on the planet we provide payroll payments and workforce management to all employee enters over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon excellent evening depending on where you are in the world it's beautiful 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 have actually been in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was fascinated by the complexity the problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or 6 years where I've kind of had a range of different roles on the company side and likewise on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everyone comes from and I truly 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 really uninspiring and I wish I was elsewhere at this moment in time fine so let's get going our program for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a wrap-up which should leave his time at the extremely really 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 labor forces become more and more common and handling them becomes increasingly more complex Worldwide organizations are wanting to find Solutions and new methods to improve processes specifically from a payroll and cross-border payment viewpoint numerous organizations keep different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to maintain separate checking account sometimes in different nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business simplify the episode complex procedures of
making payroll payments properly effectively securely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in adequate in one nation but when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most significantly guidelines compliance information security and banking guidelines then there are the sheer numbers they include further complexity the international Workforce is currently three and a half billion people by 2030 it's approximated 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 factor in that there are some 230 million services and growing all doing their own thing around the world in the traditional payroll design there's typically a frustrating variety of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large amounts and or extremely really basic there's no genuine consistency structure we're living in an era of tech however 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 and that simply blows my mind each time I I believe
about it to give you an idea of how far there still is to come according to Deloitte just 11 of companies say they have Workforce data in real time that's another number that offers me sleep deprived nights and rather frankly the more a service invests in worldwide payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to precisely track these payments can cause compliance incidents in the last mile of the deal nearly half of global services have expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes inadequately communicated hires and terminations as well as lack management and system setups and then when you round it all off and the information is shipped to the incorrect location the typical cost of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're making payments to staff members or otherwise that's a good question I always throw this back and say what is it what does not need to be consisted of ideal and what does
it need to be considered there's varying Bank details 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 have 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 ideal eventually building a knowledge base is absolutely vital however all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to kind of move on with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is definitely crucial that payroll and financing teams work closer together than ever um I'm constantly amazed when people say I've 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 divide the payroll payment from estimation 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 also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of essential to add to type of the level of complexity there's a growing number of benefits being organ or being offered by organizations across the world so once again you're just looking to include more and more payments to this currently intricate landscape so if you sort of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine difficulties or real tough type of pay utilizes 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 a business gets the more it tends to segregate the payroll and the payments functions 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 handling the payment side of things however you understand in in my opinion and my experience that does not necessarily need to be the case you understand long gone are the times where we need to produce additional handoffs while doing sos that we run in they simply make them more timely they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be agreed and appropriately as you stated payroll is the single biggest liability that any organization has from a cost point of view from an effect viewpoint on employees it is absolutely critical that it's done correctly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging effect on individuals's well-being and numerous other aspects if people aren't paid uh I have actually always been surprised entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anyone on this kind of webinar has actually been told 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 workers or not um but ultimately payroll is such an important cycle all of us find out about it when it fails everyone jumps up and down when it fails but when it goes right it's simply 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 stuff is definitely vital that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a terrific initial step um offering an end-to-end payroll solution for your staff members globally once again I think is another substantial um procedure again aligning and guaranteeing you have standardization Global procedures all of those things are absolutely crucial to success success of services and reducing 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 have actually never had a hundred countless them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I do not believe any of us are really 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 everyone that's associated with those procedures and also so think of sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would definitely be a fascinating task 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 require days of the week to try to check out them and in fact see what was going on and kind of try to get back to everyone so moving on appearance why do business pick to primary separate bank accounts there are services out there doing exactly this for specific countries and I've operated in a service or numerous organizations doing precisely that I can state it doesn't always feel effective and it does create more work I understand we're not purposely doing that we're not developing additional 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 believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think people have got so utilized to we need a brand-new checking 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 simply been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires taking a look at it needs changing but eventually individuals are extremely stuck to what they recognize
with ideal um change is a challenging thing all of us do not like modification um so I believe it's just sort of moving far from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I comprehend clearly the benefits of having preserving numerous checking account however there's a substantial quantity of complexity opts for setting up a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the right user accesses for private people so the intricacy is big however I think the honest response is change um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually struck the nail on the head I think it is knowledge you know and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to monitor and this method does position numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed 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 Global workers you deserve a corner workplace with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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