Find out more about Papaya Global Payroll Europe ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a protected and dependable approach of making payments to our 10,000 workers worldwide.}
The cutting-edge worldwide payroll management app streamlines my payroll process, saving me a considerable amount of time each month. With its easy to use user interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Employee Website
Workers have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The portal is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to international employees regardless of the number of staff members in the business. The company can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local benefits service providers in every nation, develop local accounts and have a minimum number of employees.
The HR capabilities offered by Global HR include numerous functions such as monitoring vacation time, making sure compliance, helping with the process of welcoming new employees and bidding goodbye to leaving ones, using a protected online platform for saving workers' files, and offering support for work permit treatments in case your employees require assistance in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment expenses dispersed per location, total employment costs per cycle and far more.
Worldwide, I have shown management and strategic know-how in guiding massive populations of over 100,000 employees across 170 countries. Currently, I am responsible for managing payroll strategies, as discussed by Mark. My function involves managing and developing external collaborations, supporting Enterprise customers, and offering advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
As an international business, we are honored to be consisted of on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your area. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment services for the past 7 years. The intricacies and challenges of this field have actually constantly captivated me.
payroll payments and chose to type of make a genuine go at that over the last five or six years where I've kind of had a range of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds approximately to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to kind of like see where everyone originates from and I actually 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 extremely really gloomy and I want I was somewhere else at this moment in time fine so let's get started our program for today is as follows um we are going to be looking at the obstacle years of managing International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a strategic property uh we'll also go over a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become more and more common and managing them ends up being a growing number of complex Worldwide companies are wanting to find Solutions and new methods to simplify processes especially from a payroll and cross-border payment standpoint many companies maintain different checking account just for payroll while some have numerous accounts in various countries does it make good sense for companies to keep different savings account sometimes in various countries it does however just for payroll exists a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting international business streamline the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the large numbers they add further complexity the global Labor force 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 individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing all over the world in the conventional payroll model there's typically an overwhelming variety of different systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or really extremely standard there's no genuine consistency framework we're living in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper which just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 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 business spends on worldwide payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of international businesses 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 because of time reporting poor HCM data information entry errors badly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the information is shipped to the incorrect place the average expense of a global information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the world payroll and payments do not run smoothly if they count on the required several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges service face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't require to be consisted of best and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country 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 have to pay from the consumer's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely critical but 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 between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely basic and technology is allowing us to kind of move on with that it also too to add to that payroll and financing require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and finance teams work better together than ever um I'm always amazed when people say I've split 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 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 often split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and wellness being more and more important to contribute to kind of the level of complexity there's more and more advantages being organ or being offered by businesses throughout the world so once again you're simply aiming to add a growing number of payments to this already complex 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 genuine tough sort of pay uses to play to pay individuals I believe yeah I suggest over the last well yeah a number of years I would certainly say that the bigger 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 info into the next function as it were that's in fact managing the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to produce additional handoffs while doing sos that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and a period that you understand that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and rightly as you said payroll is the single greatest liability that any organization has from an expense point of view from an impact perspective on employees 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 need to be done right it has the most significant detrimental result on individuals's well-being and lots of other factors if individuals aren't paid uh I've constantly been surprised coming into this Market kind of the last 5 to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind of webinar has actually been told thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it goes wrong however 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 also like why WI-Fi Global why all of this stuff is absolutely important that all of this stuff is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a great first step um supplying an end-to-end payroll option for your employees globally once again I think is another huge um process again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely key to success success of businesses and reducing the number of tools platforms and savings account they need for their International payroll too couldn't 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 thousand of them within a payroll cycle do not anticipate to you do get the odd five or 10 or whatever it might be with the with the the problems where things have not gone quite where they're meant to be um I do not believe any of us are actually doing that for for the thanks
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 procedures and also so envision sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions imagine getting that many thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be a fascinating job trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everybody so proceeding appearance why do companies pick to primary different checking account there are services out there doing exactly this for particular countries and I have actually operated in a service or numerous services doing precisely that I can state it does not constantly feel effective and it does create more work I understand we're not intentionally doing that we're not developing extra work for anybody where we do not need to and anybody that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I believe lots of reasons one is it's the requirement I believe people have actually got so used to we require a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a number of markets where it's not a requirement so I think it's just been the requirement and the norm individuals have embraced and continue to do over years and years gone past to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I believe there's a variety I think this is a process that needs taking a look at it requires changing but ultimately people are very stuck to what they're familiar
with right um modification is a challenging thing we all don't like modification um so I believe it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend obviously the benefits of having maintaining several savings account but there's a huge quantity of intricacy opts for setting up a checking account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for private individuals so the complexity is big however I think the honest answer is change um people have not had the ability to change or have not had necessarily the knowledge to actually make that change into alternate Solutions other than opening a bank 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 however we have actually constantly 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 almost be figured out to be the next Century or so there is a lot to keep an eye on and this method does posture a number of obstacles um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your dedication to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
Papaya Global Art