Find out more about Papaya Global Payroll Withholding ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and dependable technique of making payments to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
The Staff member Portal provides workers with the ability to access and view essential files such as pay slips, wage and tax declarations, and work records. This portal is accessible on both desktop and mobile phones and is provided in different languages.
Advantages Administration
Papaya Global helps business offer competitive advantages packages to international staff members regardless of the variety of workers in the business. The business can establish health insurance, short-term and long-term disability, vision, dental and maternity leave while eliminating the requirement to source local benefits companies in every nation, create regional accounts and have a minimum variety of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, overall work costs dispersed per area, overall work expenses per cycle and much more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark said I work across business handling and structure external relationships supporting Business clients and services along with functioning as an advisor for those of you that don't understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for many prominent business on the planet we offer payroll payments and labor force management to all worker enters over 160 countries 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 upon where you are in the world it's lovely to meet 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 remained in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or six years where I have actually sort of had a variety of various roles on the supplier side and likewise on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating 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 comes from and I actually 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 bleak and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies maintain different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic property uh we'll also discuss a recap and that should leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being a growing number of common and managing them becomes more and more complicated Global organizations are wanting to find Solutions and new methods to streamline procedures especially from a payroll and cross-border payment viewpoint many companies preserve different checking account just for payroll while some have numerous accounts in different countries does it make good sense for companies to keep separate checking account often in different nations it does however just for payroll exists a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies simplify the episode complex processes of
making payroll payments accurately effectively firmly and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely anticipate their payroll expenses to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in adequate in one country however when you're doing it internationally it's next level and Beyond it ends up being intricate for a variety of factors most significantly policies compliance data security and banking rules then there are the large numbers they add further complexity the worldwide Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and more 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 worldwide in the traditional payroll model there's often a frustrating number of various systems resulting in time-consuming manual procedures and silos the variety of Combinations could be non-existent in big amounts and or very very standard there's no genuine consistency structure we're living in an age of tech however payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which simply blows my mind each time I I think
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of services say they have Labor force data in real time that's another number that gives me sleepless nights and rather frankly the more a company invests in global payroll the less of an image they see a lack of presence also extends to payroll payments and failure to properly track these payments can lead to compliance incidents in the last mile of the deal almost half of worldwide companies have actually expressed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information information entry errors improperly interacted hires and terminations as well as absence management and system configurations and after that when you round it all off and the data is shipped to the incorrect place the average expense of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments don't run efficiently if they depend on the necessary numerous procedures 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 challenges business face when they're making payments to employees or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be included right and what does
it need to be considered 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 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 complexity anywhere you look best ultimately constructing a knowledge base is absolutely vital but everywhere you look with payroll payment they resemble incredibly payments no if however some children 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 believe there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is allowing us to type of progress with that it likewise also to add to that payroll and financing require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always surprised when individuals state I've split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession would they split the payroll payment from calculation I would say no so why do we as a market accept that why our payroll and payments so often split and cut up um eventually it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals anywhere they are however likewise 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 kind of the level of intricacy there's a growing number of advantages being organ or being provided by organizations throughout the world so once again you're simply looking to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure however have you got any experience in kind of genuine obstacles or genuine difficult type of pay uses to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely state that the larger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are teams feeding info into the next function as it were that's actually handling the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to develop additional handoffs while doing sos that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and a period that you know that we are operating in today there is no reason we are still making this as tough as it needs to be concurred and appropriately as you stated payroll is the single most significant liability that any organization has from a cost viewpoint from an impact point of view on staff members it is definitely crucial that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging effect on individuals's wellness and lots of other elements if people aren't paid uh I have actually constantly been astonished entering this Market type of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um however eventually payroll is such an essential cycle we all hear about it when it goes wrong everyone 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 view as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is absolutely important that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment option is an excellent first step um offering an end-to-end payroll option for your staff members globally once again I believe is another substantial um process again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and decreasing the number of tools platforms and savings account they require 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 have actually never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're meant to be um I don't think any of us are really doing that for for the thanks
anyhow we understand how how important 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 easy as possible for everyone that's associated with those procedures and also so picture sorry I'm just I was just gon na state picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're talking about numerous thousands possibly Millions imagine getting that many thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to browse them and in fact see what was going on and sort of try to get back to everyone so proceeding look why do business pick to primary different bank accounts there are organizations out there doing precisely this for particular countries and I've worked in a service or numerous services doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we don't need to and any person 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 amount that we are I think many factors one is it's the requirement I believe people have got so used to we need a brand-new bank account we open an entity and rightly so you need it for payroll functions however there are a variety of markets where it's not a requirement so I believe it's just been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that individuals have taken a look at things like trust accounts and numerous other methods um to to type of do it so I think there's a range I believe this is a process that needs looking at it needs altering but eventually people are really stuck with what they're familiar
with right um change is a difficult thing we all do not like change um so I think it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having preserving multiple savings account but there's a huge amount of complexity opts for setting up a bank account preserving it ensuring it can send International transfers ensuring it's established with the ideal user accesses for private individuals so the complexity is huge but I think the sincere answer is modification um people haven't had the ability to alter or have not had always the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've hit the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we have actually constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century approximately there is a lot to monitor and this technique does pose a number of challenges um so Johnny might you inform us about those challenges yeah of course so there's a range right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has acquired another CFO, and with this improved ability, I have actually successfully protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
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