Find out more about Papaya Global (Hk) Limited Hong Kong ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has obtained a different Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and dependable approach of paying to our 10,000 staff members worldwide.}
the very best international payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Staff member Website
Employees have access to an Employee Website where they can view their pay slips, wage and tax declarations and employment files. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits bundles to worldwide workers regardless of the number of workers in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the need to source local benefits service providers in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, overall work expenses dispersed per area, total work costs per cycle and much more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Business customers and options in addition to acting as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
business to make the time 100 list for most prominent business on the planet we provide payroll payments and workforce management to all staff member types in over 160 countries I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending upon where you remain in the world it's charming to satisfy 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 particularly working on the payroll and payment sector for over seven years um I was amazed by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've sort of had a range of various functions on the company side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll sort of let them do that so it 'd be quite 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 comes from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really bleak and I wish I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is particularly useful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of keeping different checking account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical asset for payroll executives. We will likewise provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently safely and on time throughout this webinar we'll stroll you through the international pros and cons of a payroll wallet versus a payroll checking account how business precisely forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be tough in sufficient in one nation however when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of factors most importantly guidelines compliance information security and banking rules then there are the large numbers they add additional complexity the worldwide 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 all over the world in the conventional payroll design there's often an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Integrations could be non-existent in big amounts and or really very basic there's no genuine consistency structure we're living in an age of tech however payroll has 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 every time I I think
about it to give you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Labor force data in real time that's another number that provides me sleep deprived nights and rather honestly the more an organization invests in worldwide payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of international services 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 errors badly interacted hires and terminations as well as absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect place the average expense of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they rely on the essential numerous procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the obstacles company face when they're paying to staff members or otherwise that's an excellent question I always throw this back and say what is it what doesn't need to be included right and what does
it need to be thought of there's differing 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 abilities 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 client's own in-country account so there's complexity any place you look best eventually developing a knowledge base is absolutely crucial but everywhere you look with payroll payment they are like very payments no if but some babies 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 essential and innovation is permitting us to sort of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is absolutely vital that payroll and finance teams work more detailed together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 typically split and cut up um eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more crucial to add to type of the level of complexity there's increasingly more benefits being organ or being used by businesses throughout the world so once again you're simply looking to include a growing number of payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine obstacles or real difficult sort of pay uses to play to pay people I believe yeah I indicate over the last well yeah a number of decades I would certainly state that the larger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding details into the next function as it were that's actually managing the payment side of things but you know in in my viewpoint and my experience that does not necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs while doing sos that we run in they just make them more prompt they make them less effective and they do not make them what they require to be in in an era of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you stated payroll is the single biggest liability that any organization has from a cost perspective from an effect viewpoint on employees it is absolutely vital that it's done correctly 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 result on people's well-being and lots of other factors if individuals aren't paid uh I have actually always been surprised coming into this Market type of the last 5 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 terrific to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people only see when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally too. Therefore, it is necessary to guarantee that jobs like Wi-Fi International and other important matters are done correctly. Utilizing the very first Global Payments first payroll payment service is a great preliminary step towards providing a detailed payroll service for workers worldwide. Standardization, global processes, and lowering the number of tools, platforms, and bank accounts necessary for international payroll are crucial consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things do not go as prepared. Ultimately, we do not do it for the thankfulness.
anyhow we know how how crucial a function 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 involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say envision the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're talking about hundreds of thousands potentially Millions imagine getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would absolutely be an intriguing task attempting to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to look through them and actually see what was going on and type of shot to get back to everyone so moving on look why do business select to main separate bank accounts there are services out there doing exactly this for specific nations and I've worked in a company or numerous organizations doing exactly that I can state it does not constantly feel efficient and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with 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 believe lots of factors one is it's the standard I believe people have actually got so used to we need a new bank 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 requirement and the standard the people have embraced and continue to do over years and years gone past to add to that individuals have actually looked at things like trust accounts and numerous other ways um to to sort of do it so I think there's a range I think this is a process that needs looking at it requires changing but eventually people are really stuck to what they're familiar
with right um change is a challenging thing all of us don't like modification um so I think it's just type of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend obviously the advantages of having keeping numerous checking account however there's a substantial quantity of intricacy chooses establishing a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for private people so the intricacy is big but I think the honest answer is change um individuals have not been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I believe you've struck the nail on the head I think it is knowledge you know and there is a component of resistance to change but we've always done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this method does position numerous challenges um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I simply did you changed 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 International staff members you should have a corner workplace with a closer parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Papaya Global Art