Find out more about Papaya Global Customer Operations Specialist ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly committed to handling payments. This offers us with a safe and secure and reputable method of making payments to our 10,000 employees worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a considerable quantity of time monthly. With its easy to use interface, I have access to a single dashboard that effectively manages my payroll, EOR, and contractors.
Worker Portal
Staff members have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies provide competitive benefits bundles to global employees despite the variety of staff members in the business. The business can establish 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, produce local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total employment expenses distributed per place, overall employment costs per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise 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
company to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and workforce management to all worker types in over 160 countries I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning great afternoon good evening depending upon where you remain in the world it's lovely 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've been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the difficulty in all of the above of
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I have actually type of had a range of different roles on the company side and also on the supplier side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another number of uh well among the 30 seconds approximately to join all of us work back to back these days so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to sort of like see where everyone originates from and I truly do hope it's much sunnier than it is 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 very really gloomy and I want I was elsewhere at this moment in time alright so let's begin our agenda for today is as follows um we are going to be taking a look at the difficulty years of handling International payroll why companies keep separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya International payroll payments as a strategic property uh we'll likewise review a recap which should leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become more and more common and handling them becomes increasingly more intricate Worldwide organizations are aiming to find Solutions and new ways to improve procedures especially from a payroll and cross-border payment perspective many organizations maintain different bank account just for payroll while some have several accounts in different nations does it make good sense for business to preserve separate bank accounts in some cases in different nations it does however just for payroll exists a much better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational business enhance the episode complex procedures of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly forecast their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic property so payroll can be hard in sufficient in one country but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most notably policies compliance data security and banking rules then there are the sheer numbers they include more complexity the international Workforce is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million businesses and growing all doing their own thing worldwide in the conventional payroll design there's frequently a frustrating number of different systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big quantities and or really extremely basic there's no genuine consistency structure we're residing in an age 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 typically with pen and paper which just blows my mind each time I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Workforce data in real time that's another number that provides me sleepless nights and quite frankly the more a service spends on worldwide payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can result in compliance incidents in the last mile of the transaction nearly half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data data entry errors inadequately communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the typical expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the needed multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the challenges company face when they're making payments to staff members or otherwise that's a good question I constantly toss this back and say what is it what doesn't require to be included right 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 nation there's payment amount of time there's payment capabilities 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 intricacy any place you look best ultimately developing a knowledge base is absolutely critical however all over you look with payroll payment they resemble incredibly payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely basic and innovation is permitting us to kind of progress with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work closer together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation I would say no so why do we as a market 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 individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being increasingly more crucial to contribute to type of the level of intricacy there's increasingly more advantages being organ or being used by companies across the world so again you're simply looking to include increasingly more payments to this already 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 sort of pay utilizes to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to develop additional handoffs at the same times that we operate 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 a period of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult 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 perspective on staff members it is definitely critical that it's done properly and on time so what we indicate 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 destructive impact on people's well-being and numerous other aspects if individuals aren't paid uh I've constantly been astonished entering this Market type of the last five to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals just see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine task. This is how it's perceived externally too. For that reason, it is important to guarantee that jobs like Wi-Fi Worldwide and other essential matters are done properly. Utilizing the very first Global Payments first payroll payment solution is a fantastic initial action towards offering a thorough payroll service for staff members worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and checking account required for global payroll are essential consider accomplishing business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of grievances when things don't go as planned. Eventually, we do not do it for the thankfulness.
anyway we know 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 easy as possible for everybody that's involved in those processes and also so envision sorry I'm simply I was just gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about numerous thousands possibly Millions picture getting that lots of thank you notes um I imply it 'd be interesting to see how many 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 picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and really see what was going on and kind of shot to return to everybody so moving on appearance why do business choose to primary separate checking account there are businesses out there doing precisely this for specific nations and I've operated in a business or lots of businesses doing precisely that I can say it doesn't always feel efficient and it does produce more work I understand we're not purposely doing that we're not producing additional work for anybody where we do not have to and anybody 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 reasons one is it's the standard I think people have actually got so utilized to we need a new savings account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the norm individuals have actually adopted and continue to do over years and years gone past to add to that individuals have 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 variety I think this is a process that requires looking at it needs altering but eventually individuals are really stuck to what they recognize
with right um change is a hard thing all of us do not like modification um so I think it's just type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand certainly the advantages of having maintaining several checking account but there's a substantial amount of complexity chooses setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the complexity is substantial however I think the truthful response is modification um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I believe it is understanding you understand and there is an element of resistance to change but we've constantly 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 might almost be determined to be the next Century or so there is a lot to keep an eye on and this technique does pose a number of challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety right there is so
I simply 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 are worthy of a corner workplace with a more detailed parking space because I mastered Global payroll and payments with Papaya payroll OS did you
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