Find out more about Papaya Global Mobile App ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and dependable method of making payments to our 10,000 employees worldwide.}
The cutting-edge worldwide payroll management app improves my payroll process, saving me a considerable amount of time monthly. With its easy to use interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Employee Website
Staff members have access to a Worker Website where they can see their pay slips, wage and tax statements and work documents. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive benefits bundles to worldwide employees despite the variety of employees in the company. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional advantages service providers in every country, create regional accounts and have a minimum number of employees.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, labor force variety, total work expenses distributed per area, total employment expenses per cycle and much more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and building external relationships supporting Business customers and solutions in addition to functioning as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
business to make the time 100 list for many influential business worldwide we supply payroll payments and labor force management to all worker types in over 160 nations 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 excellent afternoon great night depending upon where you remain in the world it's beautiful to fulfill you and thank you very much for your time as Ian stated 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 particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various functions on the company side and also on the supplier side from a payroll viewpoint so really looking forward to this conversation today um and yeah thank you very much for your time everyone all right thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or two to join all of us work back to back these days so we'll sort of let them do that so it 'd be quite fascinating 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 really do hope it's much sunnier than it is 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 very very gloomy and I wish I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why companies maintain different
Virtual payroll accounts are an alternative to conventional checking account for managing payroll payments. This is particularly beneficial for worldwide organizations with dispersed and remote labor forces, as it simplifies the intricate procedure of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more streamlined solution. In this webinar, we will explore the advantages of using virtual payroll accounts and talk about why they are becoming a strategic property for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments properly effectively securely and on time throughout this webinar we'll stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly anticipate their payroll expenses to increase working capital and how improving Global payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most importantly guidelines compliance information security and banking rules then there are the large numbers they include more complexity the international Workforce is currently 3 and a half billion people by 2030 it's approximated 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 services and growing all doing their own thing worldwide in the traditional payroll design there's often an overwhelming variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or extremely very standard there's no real consistency framework we're residing in a period 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 often with pen and paper and that simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the deal nearly half of worldwide services have actually revealed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash worldwide payroll and payments don't run smoothly if they depend on the necessary numerous 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 paying to employees or otherwise that's a great concern I always throw this back and state what is it what doesn't need to be included best 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 nation 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 customer's own in-country account so there's intricacy anywhere you look best eventually building a knowledge base is definitely important but all over you look with payroll payment they resemble super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a look at the sort 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 technology is allowing us to kind of move forward with that it also as well to contribute to that payroll and financing require to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm always surprised when people state I have actually split 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 split 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 ultimately it's payroll is an end-to-end process 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 third parties so with the
world we reside in and wellness being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so again you're simply seeking to add increasingly more payments to this already complicated landscape so if you sort of got any experience well I'm from your large experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine challenging sort of pay utilizes to play to pay people I think yeah I imply over the last well yeah a number of decades I would absolutely 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 groups feeding details into the next function as it were that's really managing the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you know long gone are the times where we need to create extra handoffs at the same times that we run in they just make them more prompt they make them less efficient and they do not make them what they need to be in in an era of tech and a period that you understand that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and rightly as you said payroll is the single greatest liability that any service has from an expense viewpoint from an effect viewpoint on workers it is definitely vital 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 have to be done right it has the biggest damaging impact on individuals's wellness and numerous other aspects if individuals aren't paid uh I've always been surprised entering into this Market sort of the last five to ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just see when things go wrong. Nevertheless, when things go right, it's seen as just a regular job. This is how it's viewed externally also. Therefore, it is essential to guarantee that jobs like Wi-Fi International and other essential matters are done properly. Utilizing the first International Payments very first payroll payment solution is an excellent initial step towards supplying an extensive payroll solution for workers worldwide. Standardization, international procedures, and lowering the variety of tools, platforms, and checking account essential for global payroll are essential consider attaining business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway 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 processes and likewise so imagine sorry I'm simply I was simply gon na state picture the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions imagine getting that lots of thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job attempting 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 check out them and actually see what was going on and kind of try to return to everyone so proceeding appearance why do business pick to main different savings account there are services out there doing exactly this for particular nations and I have actually operated in a service or many organizations doing exactly that I can state it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not producing additional work for anyone where we do not have to and anybody 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 requirement I think individuals have got so used to we require a new savings account we open an entity and appropriately 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 just been the standard and the norm the people have adopted and continue to do over years and years passed by to contribute to that individuals have actually looked at things like trust accounts and many other ways um to to sort of do it so I believe there's a variety I think this is a process that needs taking a look at it needs altering however eventually people are very stuck to what they recognize
with best um modification is a hard thing we all don't like change um so I think it's simply type of moving far from the norm as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having keeping numerous bank accounts but there's a big quantity of intricacy goes with setting up a savings account preserving it ensuring it can send out International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is huge however I believe the honest response is modification um individuals haven't been able to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a savings account I think you have actually struck the nail on the head I think it is understanding you know and there is an element of resistance to change however we have actually constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be determined to be the next Century or so there is a lot to keep an eye on and this technique does position several challenges um so Johnny might you inform us about those challenges yeah of course so there's a variety 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 should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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