Find out more about Papaya Global Payroll Hit A Speed Bump ... 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 acquired a separate Chief Financial Officer particularly committed to handling payments. This provides us with a protected and dependable method of paying to our 10,000 employees worldwide.}
the very best international payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Staff members have access to an Employee Website where they can view their pay slips, wage and tax declarations and work files. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps business offer competitive advantages packages to international staff members no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the need to source regional advantages providers in every country, produce local accounts and have a minimum variety of workers.
The HR capabilities offered by Worldwide HR encompass different functions such as monitoring holiday time, guaranteeing compliance, assisting in the process of inviting brand-new employees and bidding goodbye to leaving ones, providing a protected online platform for storing workers' documents, and providing assistance for work allow treatments in case your workers need support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work costs distributed per location, overall work expenses per cycle and much more.
environments across the globe I supplied leadership and technique to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout the business managing and structure external relationships supporting Enterprise customers and services as well as functioning as a consultant 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 companies on the planet we offer payroll payments and labor force management to all employee enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning excellent afternoon great night depending on where you remain 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 remained 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 intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually kind of had a variety of various functions on the supplier side and also on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everyone is um it's nice to to kind of like see where everyone originates from and I truly do hope it's much sunnier than it remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the obstacle years of handling Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical possession uh we'll also review a wrap-up and that must leave his time at the extremely extremely end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become a growing number of common and managing them becomes increasingly more complicated Worldwide organizations are seeking to find Solutions and new ways to streamline processes specifically from a payroll and cross-border payment perspective numerous organizations preserve separate savings account just for payroll while some have multiple accounts in different countries does it make sense for companies to maintain separate bank accounts sometimes in various nations it does but just for payroll is there a better method what function do virtual accounts and digital wallets also called virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic possession so payroll can be challenging in adequate in one nation but when you're doing it globally it's next level and Beyond it ends up being complicated for a variety of reasons most significantly regulations compliance data security and banking rules then there are the large numbers they add more complexity the worldwide Workforce is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people 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 around the globe in the traditional payroll design there's typically a frustrating variety of different systems leading to time-consuming manual procedures and silos the number of Combinations could be non-existent in large quantities and or really extremely standard there's no real consistency framework we're residing in an era of tech but 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 and that simply blows my mind every 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 organizations say they have Labor force data in real time that's another number that gives me sleepless nights and rather honestly the more a company invests in global payroll the less of a picture they see an absence of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the deal almost half of international organizations have revealed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry mistakes inadequately communicated hires and terminations as well as absence management and system setups and then when you round everything off and the information is delivered to the wrong place the average expense of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money around the globe payroll and payments don't run smoothly if they depend on the essential multiple 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 challenges organization face when they're paying to workers or otherwise that's a good question I always throw this back and state what is it what doesn't require to be consisted of best and what does
it need to be thought about 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 have to pay from an in-country account do you need to pay from the customer's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is absolutely important however all over you look with payroll payment they resemble incredibly 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 between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely basic and technology is permitting us to type of progress with that it likewise as well to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is definitely essential that payroll and financing teams work better together than ever um I'm always amazed when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll profession would they split the payroll payment from computation 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 ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high value on well-being and the payment landscape is ending up being progressively intricate. Organizations are continuously introducing brand-new advantages and payment options, which adds to the overall complexity. Big corporations typically divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technologically advanced age, there's no validation for preserving troublesome treatments. Payroll, the business's greatest expenditure, should be processed correctly and on time. Even small delays can negatively affect staff members' well-being and have far-reaching effects. For that reason, it's important to prioritize accurate and prompt payments.
payroll team get um so I'm not sure anybody on this kind of webinar has been told thank you for processing my payroll properly if you have it 'd be excellent 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 everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment service is an excellent initial step um offering an end-to-end payroll service for your workers internationally again I think is another big um process once again lining up and guaranteeing you have standardization International processes all of those things are absolutely crucial to success success of organizations and reducing the number of tools platforms and checking account they require for their Global payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I have actually never ever had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or ten or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand how how important 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 easy as possible for everybody that's associated with those processes and also so imagine sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that lots of thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating job trying to clean all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and kind of shot to return to everyone so proceeding look why do business choose to primary separate bank accounts there are services out there doing precisely this for particular countries and I have actually operated in an organization or many organizations doing exactly that I can say it does not always feel effective and it does produce more work I understand we're not intentionally doing that we're not producing additional work for any person where we do not need 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 quantity that we are I believe numerous factors one is it's the requirement I think people have got so utilized to we need a new savings account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the requirement and the standard the people have embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a process that needs looking at it requires altering however ultimately people are really stuck to what they recognize
with right um change is a hard thing all of us don't like change um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand clearly the benefits of having keeping numerous savings account but there's a big quantity of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the complexity is huge but I think the truthful response is modification um people haven't had the ability to change or haven't had always the knowledge to really make that change into alternate Solutions besides opening a savings account I believe 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 however we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might nearly be identified to be the next Century or two there is a lot to keep track of and this method does position numerous obstacles um so Johnny might you inform us about those obstacles yeah of course so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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