Find out more about Papaya Global Payroll Support ... We now have the capability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically committed to handling payments. This offers us with a safe and secure and dependable method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and contractors
Staff member Portal
Employees have access to a Worker Website where they can view their pay slips, wage and tax declarations and work files. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive advantages plans to worldwide staff members despite the variety of staff members in the business. The company can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local advantages suppliers in every country, produce local accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include different functions such as keeping track of vacation time, making sure compliance, facilitating the process of inviting new staff members and bidding farewell to leaving ones, using a safe and secure online platform for saving workers' documents, and providing support for work allow procedures in case your workers require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, total work costs dispersed per location, overall employment costs per cycle and a lot more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll methods for as Mark said I work throughout business handling and building external relationships supporting Enterprise clients and options in addition to functioning as an advisor for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
business to make the time 100 list for most prominent business worldwide we supply payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning great afternoon great night depending upon where you are in the world it's beautiful to meet 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 ten years and particularly working on the payroll and payment sector for over seven years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or 6 years where I have actually kind of had a range of different functions on the supplier side and also on the supplier side from a payroll perspective so really looking forward to this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll just provide everybody another couple 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 already just to hear where everybody is um it's nice to to type of like see where everybody originates 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 extremely gloomy and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts enhancing papaya Worldwide payroll payments as a strategic possession uh we'll likewise discuss a recap which 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 relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces end up being more and more typical and managing them ends up being more and more complex International organizations are wanting to find Solutions and new methods to enhance processes especially from a payroll and cross-border payment standpoint lots of companies keep separate bank account just for payroll while some have numerous accounts in various countries does it make sense for companies to preserve separate savings account in some cases in various countries it does but just for payroll exists a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments precisely effectively securely and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one nation but when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most significantly policies compliance information security and banking rules then there are the large numbers they add more complexity the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated 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 organizations and growing all doing their own thing all over the world in the conventional payroll design there's often an overwhelming variety of various systems resulting in lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or really extremely standard there's no real consistency structure we're living in an age of tech however payroll has actually been slow 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 every time I I believe
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services say they have Workforce data in real time that's another number that provides me sleepless nights and quite honestly the more a business invests in worldwide payroll the less of a photo they see an absence of visibility also extends to payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal almost half of international companies have revealed that they don't 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 data entry errors inadequately communicated hires and terminations along with absence management and system configurations and after that when you round all of it off and the information is delivered to the wrong location the average expense of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments do not run smoothly if they depend on the necessary numerous processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles service face when they're making payments to staff members or otherwise that's a good concern I constantly toss this back and state what is it what does not need to be included best and what does
it require to be thought of there's varying Bank information 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 client's own in-country account so there's complexity any place you look right eventually constructing a knowledge base is definitely important but all over you look with payroll payment they resemble extremely payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 absolutely fundamental and innovation is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with varying Checking account Particulars varying banking requirements and setup procedures is definitely vital that payroll and financing teams work closer together than ever um I'm always impressed when people say I've split payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 procedure it's the point of data collection all the way through to paying individuals any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being a growing number of important to contribute to sort of the level of intricacy there's increasingly more benefits being organ or being provided by organizations throughout the world so again you're simply wanting to add more and more payments to this currently intricate landscape so if you type 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 real challenges or real challenging type of pay uses to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely state that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we require to develop extra handoffs at the same times that we operate 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 age of tech and a period that you understand that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and rightly as you said payroll is the single biggest liability that any company has from a cost point of view from an impact perspective on staff members it is absolutely critical 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 destructive result on individuals's well-being and many other aspects if people aren't paid uh I've constantly been astonished coming into this Market kind of the last 5 to 10 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 actually been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is a crucial cycle, and individuals only observe when things go wrong. Nevertheless, when things go right, it's seen as simply a regular job. This is how it's perceived externally also. For that reason, it is necessary to make sure that jobs like Wi-Fi Global and other important matters are done properly. Using the first Worldwide Payments very first payroll payment solution is a terrific preliminary action towards supplying a comprehensive payroll service for employees worldwide. Standardization, international processes, and lowering the number of tools, platforms, and savings account necessary for international payroll are crucial factors in attaining business success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of problems when things do not go as prepared. Eventually, we do not do it for the gratitude.
anyhow we understand how how important a role it is which'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 just I was just gon na state think of the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions picture getting that many thank you keeps in mind um I suggest it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to look through them and in fact see what was going on and kind of shot to return to everyone so carrying on look why do business pick to main separate bank accounts there are businesses out there doing precisely this for specific nations and I've operated in a business or numerous services doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for anybody where we don't have to and any person that's dealing with that procedure I 'd be interested to hear your ideas Johnny why do you think 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 brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have adopted and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to type of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs altering but eventually people are very stuck with what they're familiar
with right um modification is a difficult thing we all don't like modification um so I believe it's just kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having keeping multiple checking account but there's a substantial quantity of complexity goes with setting up a savings account keeping it guaranteeing it can send out International transfers ensuring it's set up with the ideal user accesses for specific individuals so the complexity is substantial but I think the honest answer is change um individuals haven't had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a checking account I believe you've struck the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might nearly be identified to be the next Century or two there is a lot to monitor and this technique does present numerous challenges um so Johnny could you tell us about those difficulties yeah obviously so there's a range 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's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide staff members you deserve a corner workplace with a better parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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