Find out more about Papaya Global Payroll Vs Papaya Global Payroll ... 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 different Chief Financial Officer particularly devoted to managing payments. This supplies us with a secure and trusted approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app improves my payroll process, saving me a substantial amount of time every month. With its easy to use user interface, I have access to a single control panel that efficiently handles my payroll, EOR, and contractors.
Employee Website
Workers have access to a Worker Website where they can view their pay slips, wage and tax declarations and work documents. The website is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to global staff members regardless of the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while eliminating the need to source regional benefits service providers in every nation, develop local accounts and have a minimum variety of workers.
Global HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs distributed per area, total work expenses per cycle and a lot more.
environments across the globe I supplied leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and services 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
As an international business, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have focused on payroll and payment solutions for the past 7 years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and chose to kind of make a real go at that over the last five or six years where I have actually type of had a variety of various functions on the service provider side and likewise on the vendor side from a payroll perspective so truly anticipating 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 among the 30 seconds approximately to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really 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 really extremely dreary and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Global payroll payments as a strategic possession uh we'll likewise go over a wrap-up which needs to leave his time at the really 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 become increasingly more typical and managing them ends up being a growing number of intricate Worldwide companies are aiming to discover Solutions and new ways to simplify processes especially from a payroll and cross-border payment viewpoint numerous companies maintain separate savings account just for payroll while some have several accounts in different countries does it make sense for companies to maintain separate checking account in some cases in various nations it does but just for payroll exists a much better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies simplify the episode complex procedures of
making payroll payments properly effectively safely and on time during this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll savings account how business accurately forecast their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one country but when you're doing it globally it's next level and Beyond it ends up being complex for a variety of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they include further complexity the international Labor force 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 individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing all over the world in the standard payroll design there's typically an overwhelming variety of various systems causing lengthy manual procedures and silos the number of Combinations could be non-existent in big quantities and or extremely extremely fundamental there's no real 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 typically 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 organizations state they have Labor force information in real time that's another number that provides me sleepless nights and rather honestly the more a business invests in international payroll the less of a photo they see an absence of visibility also encompasses payroll payments and inability to properly track these payments can lead to compliance accidents in the last mile of the deal almost half of international organizations have expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are due to time reporting bad HCM data data entry mistakes badly communicated hires and terminations along with lack management and system setups and after that when you round everything off and the data is delivered to the wrong location the typical cost of an international information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money worldwide payroll and payments don't run efficiently 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 obstacles company face when they're paying to staff members or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't need to be included ideal and what does
it require to be considered there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's complexity any place you look ideal eventually building a knowledge base is absolutely crucial however all over you look with payroll payment they resemble very payments no if however some infants 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 think there's now a bit more recognition that payroll payments are absolutely basic and innovation is allowing us to kind of move forward with that it also also to contribute to that payroll and financing need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely essential that payroll and finance teams work more detailed together than ever um I'm always surprised when individuals say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't 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 typically 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 people anywhere they are however also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to contribute to sort of the level of complexity there's more and more advantages being organ or being provided by services throughout the world so again you're just wanting to add increasingly more payments to this already complicated landscape so if you kind of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or genuine challenging type of pay utilizes to play to pay people I believe yeah I suggest over the last well yeah a number of decades I would definitely state that the bigger a company gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding details into the next function as it were that's actually managing the payment side of things however you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we require to produce extra handoffs in the processes that we operate in they just make them more timely they make them less effective and they don't make them what they require to be in in an era of tech and an age that you understand that we are operating in today there is no reason why we are still making this as hard as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from a cost viewpoint from an impact viewpoint on workers it is absolutely critical that it's done properly 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 harmful impact on individuals's well-being and lots of other aspects if people aren't paid uh I have actually always been astonished coming into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anyone on this type of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us become aware of it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely essential that all of this stuff is done properly so leveraging the first Worldwide Payments first payroll payment service is an excellent primary step um providing an end-to-end payroll service for your workers internationally again I believe is another huge um procedure again aligning and guaranteeing you have standardization International procedures all of those things are definitely key to success success of businesses and lowering the variety of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle do not expect to you do get the odd five or 10 or whatever it might be with the with the the complaints where things haven't gone quite where they're meant to be um I don't think any of us are in fact doing that for for the thanks
anyway we understand how how crucial a function 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 everybody that's associated with those procedures and likewise so think of sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands potentially Millions think of getting that lots of thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be a fascinating job trying to clean up 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 attempt to check out them and actually see what was going on and type of shot to get back to everyone so proceeding appearance why do companies pick to primary separate checking account there are companies out there doing precisely this for specific countries and I've operated in a business or many organizations doing precisely that I can state it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not creating additional work for anyone where we do not have to and any person that's managing 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 quantity that we are I think numerous reasons one is it's the standard I think people have got so utilized to we require a brand-new savings account we open an entity and rightly so you need it for payroll functions however there are a number 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 individuals have taken a look at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I think this is a procedure that requires looking at it requires altering but ultimately people are very stuck to what they recognize
with right um modification is a tough thing we all do not like modification um so I think it's simply type 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 understand undoubtedly the advantages of having maintaining multiple checking account however there's a big quantity of complexity opts for setting up a savings account preserving it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the intricacy is big however I believe the honest response is modification um individuals have not been able to alter or haven't had always the understanding 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 believe it is understanding you know and there is an element of resistance to change but we have actually constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be identified to be the next Century approximately there is a lot to keep an eye on and this method does posture numerous challenges um so Johnny might you tell us about those challenges yeah obviously so there's a range right there is so
I just did you switched 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 staff members you are worthy of a corner office with a more detailed parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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