Find out more about Papaya Global Vs Papaya Global Payroll ... 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 gotten a different Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and dependable approach of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Staff member Website provides workers with the capability to access and view crucial files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is provided in numerous languages.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to global employees no matter the number of staff members in the company. The company can set up medical insurance, short-term and long-term special needs, vision, dental and maternity leave while getting rid of the requirement to source local benefits suppliers in every country, develop local accounts and have a minimum number of employees.
The HR abilities offered by Global HR encompass various functions such as keeping track of trip time, guaranteeing compliance, facilitating the process of welcoming brand-new staff members and bidding farewell to departing ones, providing a safe and secure online platform for storing employees' documents, and supplying support for work permit procedures in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, overall work expenses distributed per area, overall employment expenses per cycle and much more.
Globally, I have demonstrated leadership and strategic proficiency in assisting massive populations of over 100,000 employees across 170 nations. Currently, I am responsible for supervising payroll strategies, as discussed by Mark. My function includes managing and developing external collaborations, supporting Enterprise customers, and supplying advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services service provider.
company to make the time 100 list for many prominent business worldwide we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to state that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to present yourself obviously thank you good morning good afternoon good night depending on where you remain in the world it's lovely to fulfill 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 have actually been in the payments market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the difficulty in all of the above of
payroll payments and decided to sort of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different roles on the company side and likewise on the vendor side from a payroll viewpoint so really anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everyone comes from and I actually do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was somewhere else at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies preserve separate
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya Worldwide payroll payments as a strategic property uh we'll likewise go over a recap which must leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and managing them becomes a growing number of complex International organizations are aiming to find Solutions and new ways to simplify processes specifically from a payroll and cross-border payment standpoint many companies maintain different checking account just for payroll while some have multiple accounts in various nations does it make good sense for companies to maintain different savings account often in various nations it does but just for payroll is there a better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex procedures of
making payroll payments properly efficiently safely and on time throughout this webinar we'll walk you through the global pros and cons of a payroll wallet versus a payroll savings account how companies properly forecast their payroll expenses to increase working capital and how improving International payroll payments can turn them from a siled pane into a tactical property so payroll can be challenging in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes complicated for a range of factors most importantly regulations compliance information security and banking guidelines then there are the large numbers they include additional intricacy the worldwide Workforce is currently three and a half billion people by 2030 it's approximated 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 companies and growing all doing their own thing around the world in the standard payroll model there's typically a frustrating variety of different systems leading to lengthy manual processes and silos the number of Combinations could be non-existent in big quantities and or really very fundamental there's no genuine consistency framework we're residing 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 and that 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 businesses state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more an organization invests in international payroll the less of a photo they see a lack of exposure also encompasses payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of global services have actually expressed that they don't have the level of standardization they require in their processes or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations in addition to lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the average expense of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash worldwide payroll and payments don't run smoothly if they rely on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges organization face when they're making payments to employees or otherwise that's an excellent question I always toss this back and state what is it what does not require to be included best and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 consumer's own in-country account so there's complexity anywhere you look right eventually building a knowledge base is absolutely crucial however everywhere you look with payroll payment they are like extremely payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 innovation is allowing us to type of move forward with that it also as well to contribute to that payroll and financing need to work closer together um with differing Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work closer together than ever um I'm always amazed when individuals say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll profession would they split 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 procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of advantages being organ or being used by companies throughout the world so once again you're just looking to include more and more payments to this currently intricate landscape so if you kind of got any experience well I'm from your huge experience here and I make sure but have you got any experience in kind of genuine obstacles or real challenging sort of pay uses to play to pay people I think yeah I suggest over the last well yeah a couple of years I would certainly state that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are teams feeding information into the next function as it were that's actually handling the payment side of things but you know in in my viewpoint and my experience that does not always need to be the case you understand long gone are the times where we require to produce extra handoffs in the processes that we run in they simply make them more timely 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 we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from a cost perspective from an impact viewpoint on workers it is definitely crucial that it's done correctly and on time so what we mean 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 destructive effect on people's wellness and lots of other factors if individuals aren't paid uh I have actually always been impressed coming into this Market sort of the last 5 to ten years is how little thanks the
The payroll team may not have 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 employees or not. Payroll is a crucial cycle, and people only observe when things go wrong. Nevertheless, when things go right, it's seen as just a routine job. This is how it's perceived externally as well. For that reason, it is vital to ensure that jobs like Wi-Fi International and other important matters are done properly. Using the very first Worldwide Payments first payroll payment option is a fantastic initial step towards providing an extensive payroll option for staff members worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and savings account needed for international payroll are essential consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally get a few complaints when things don't go as planned. Ultimately, we do not do it for the appreciation.
anyway we understand how how crucial a role 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 imagine sorry I'm just I was just gon na say picture the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions think of 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 however it would certainly be an interesting job attempting to clean all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and in fact see what was going on and type of try to return to everybody so moving on appearance why do business choose to main separate bank accounts there are companies out there doing precisely this for particular nations and I've worked in an organization or many businesses doing exactly that I can say it does not always feel effective and it does create more work I know we're not deliberately doing that we're not producing extra work for any person where we do not have to and any person that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the standard I believe individuals have actually got so used to we need a brand-new checking account we open an entity and appropriately so you require it for payroll functions but there are a number of markets where it's not a requirement so I think it's simply been the standard and the norm the people have actually embraced 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 many other methods um to to sort of do it so I think there's a range I think this is a procedure that needs looking at it requires altering however ultimately individuals are really stuck to what they're familiar
with best um change is a difficult thing all of us don't like modification um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the benefits of having keeping several bank accounts however there's a big amount of intricacy goes with setting up a bank account maintaining it ensuring it can send out International transfers guaranteeing it's set up with the ideal user accesses for private individuals so the complexity is big however I think the honest answer is modification um individuals have not been able to alter or haven't had always the understanding to actually make that change into alternate Solutions aside from opening a bank account I think you've struck the nail on the head I think it is understanding you know and there is a component of resistance to change however we have actually always done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what could almost be identified to be the next Century or so there is a lot to monitor and this method does posture numerous challenges um so Johnny might you inform us about those difficulties yeah of course so there's a range right there is so
I just did you changed 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 workers you deserve a corner workplace with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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