Find out more about Papaya Global Youtube ... 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 gotten a separate Chief Financial Officer particularly dedicated to managing payments. This supplies us with a safe and secure and dependable approach of making payments to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and contractors
The Employee Website provides staff members with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile phones and is used in numerous languages.
Benefits Administration
Papaya Global helps companies provide competitive advantages packages to international staff members despite the number of staff members in the business. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional advantages providers in every nation, develop regional accounts and have a minimum variety of employees.
The HR capabilities provided by Global HR include different functions such as monitoring vacation time, guaranteeing compliance, facilitating the process of inviting brand-new employees and bidding farewell to departing ones, using a safe and secure online platform for storing employees' documents, and offering support for work permit treatments in case your workers require support in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force variety, overall work costs dispersed per location, overall employment costs per cycle and a lot more.
environments across the globe I supplied management 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 the business handling and building external relationships supporting Business customers and services as well as serving as an advisor for those of you that don't know who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of prominent business in the world we offer payroll payments and workforce management to all employee enters over 160 nations 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 great afternoon excellent 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 stated 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 dealing with the payroll and payment sector for over 7 years um I was interested by the complexity the problem in all of the above of
payroll payments and decided to kind of make a real go at that over the last five or 6 years where I have actually sort of had a range of various roles on the provider side and also on the vendor side from a payroll perspective so really anticipating this discussion today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well one of the 30 seconds or two to join we all work back to back nowadays so we'll sort 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 kind of like see where everyone 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 extremely really uninspiring and I want I was elsewhere at this moment in time alright so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing Global payroll why companies keep different
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts streamlining papaya International payroll payments as a tactical asset uh we'll also go over a wrap-up and that should leave his time at the very really 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 Worldwide labor forces end up being more and more typical and handling them becomes increasingly more complicated International organizations are aiming to discover Solutions and new methods to enhance procedures especially from a payroll and cross-border payment standpoint numerous organizations keep different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve separate bank accounts sometimes in different countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational business enhance the episode complex processes of
making payroll payments accurately efficiently securely and on time throughout this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how business properly forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in adequate in one nation however when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of factors most importantly regulations compliance data security and banking guidelines then there are the large numbers they include further intricacy the worldwide Workforce is currently three and a half billion individuals 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 businesses and growing all doing their own thing around the globe in the standard payroll design there's frequently a frustrating number of various systems leading to time-consuming manual processes and silos the variety of Integrations could be non-existent in big amounts and or really really standard there's no real consistency structure we're living in an age of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind whenever I I think
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of services state they have Labor force information in real time that's another number that offers me sleepless nights and quite honestly the more an organization spends on worldwide payroll the less of an image they see an absence of exposure also encompasses payroll payments and failure to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of global companies have actually 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 bad HCM information data entry errors improperly communicated hires and terminations in addition to lack management and system setups and then when you round it all off and the information is delivered to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the world payroll and payments do not run efficiently if they rely on the required multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles service face when they're making payments to workers or otherwise that's a good question I constantly toss this back and say what is it what doesn't need to be included ideal 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 country there's payment timespan there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity wherever you look right eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble very payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to sort of move on with that it likewise as well to contribute to that payroll and finance need to work closer together um with varying Bank 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 surprised when people state I've split 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 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 procedure it's the point of information collection all the way through to paying individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and wellness being more and more important to contribute to sort of the level of intricacy there's more and more benefits being organ or being offered by companies across the world so once again you're just seeking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real challenges or real challenging kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a couple of years I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are groups feeding info into the next function as it were that's really managing the payment side of things but you understand in in my opinion and my experience that doesn't always need to be the case you understand long gone are the times where we require to create extra handoffs at the same times that we run in they simply make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and an era that you understand that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any business has from a cost perspective from an impact perspective on staff members it is definitely 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 have to be done right it has the biggest detrimental impact on individuals's wellness and numerous other factors if people aren't paid uh I've always been surprised entering this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm not sure anybody on this sort 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 workers or not um however ultimately payroll is such a crucial cycle we all become aware of 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 deem well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is a fantastic first step um offering an end-to-end payroll option for your staff members globally once again I believe is another big um procedure once again lining up and guaranteeing you have standardization Global processes all of those things are absolutely key to success success of organizations and reducing the number of tools platforms and savings 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 have actually never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd five or 10 or whatever it might be with the with the the grievances where things haven't gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
anyway we know 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 associated with those processes and also so think of sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions think of getting that numerous thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would definitely be a fascinating job trying to clean all those up for sure oh definitely I can't picture the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to browse them and actually see what was going on and kind of shot to get back to everyone so proceeding appearance why do business select to primary different savings account there are organizations out there doing exactly this for specific countries and I have actually worked in an organization or many companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I know we're not intentionally doing that we're not developing additional work for anyone where we do not need to and anyone that's managing that procedure 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 believe lots of reasons one is it's the standard I believe individuals have actually got so utilized to we need a brand-new checking account we open an entity and rightly so you require it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a range I think this is a procedure that requires looking at it needs altering but ultimately individuals are really stuck with what they're familiar
with best um change is a hard 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 great deal of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous savings account but there's a huge amount of complexity opts for establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is big however I think the sincere response is modification um individuals haven't had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I believe you have actually struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we have actually constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or so there is a lot to keep track of and this technique does posture a number of obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply did you switched our Business 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 International workers you should have a corner office with a closer parking space since I mastered International payroll and payments with Papaya payroll OS did you
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