Find out more about Papaya Global Can I Make Monday Through Saturday Payroll ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly devoted to managing payments. This offers us with a safe and trustworthy technique of paying to our 10,000 workers worldwide.}
The advanced global payroll management app streamlines my payroll process, saving me a substantial amount of time monthly. With its user-friendly user interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and specialists.
The Employee Website provides workers with the capability to access and view important files such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile devices and is offered in various languages.
Advantages Administration
Papaya Global assists companies provide competitive advantages bundles to international workers no matter the number of workers in the company. The company can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while eliminating the need to source regional advantages providers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities offered by Global HR include numerous functions such as monitoring trip time, ensuring compliance, facilitating the process of welcoming brand-new staff members and bidding goodbye to leaving ones, offering a protected online platform for keeping employees' documents, and supplying support for work allow procedures in case your staff members require assistance because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall work costs dispersed per location, total employment expenses per cycle and a lot more.
Worldwide, I have shown leadership and tactical proficiency in directing large-scale populations of over 100,000 workers throughout 170 countries. Presently, I am responsible for managing payroll techniques, as discussed by Mark. My role involves managing and establishing 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.
business to make the time 100 list for many prominent business on the planet we provide payroll payments and labor force management to all employee enters over 160 countries I am pleased to state 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 excellent afternoon excellent evening depending on where you remain in the world it's charming 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 been in the payments industry for over 10 years and specifically 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 kind of had a variety of different functions on the service provider side and likewise on the vendor side from a payroll viewpoint so really eagerly anticipating this conversation today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be quite interesting and I can see it going on already just to hear where everyone is um it's nice to to type of like see where everybody originates 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 really very uninspiring and I wish 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 handling International payroll why business maintain separate
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll also discuss a wrap-up which needs to leave his time at the really very end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and managing them ends up being increasingly more complex Worldwide companies are looking to find Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment perspective lots of companies preserve different bank account just for payroll while some have several accounts in various countries does it make good sense for companies to maintain different bank accounts in some cases in different countries it does but just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting international business streamline the episode complex procedures of
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in sufficient in one country but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of reasons most significantly policies compliance data security and banking guidelines 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 more 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the conventional payroll model there's typically a frustrating variety of various systems resulting in time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really really basic there's no real consistency framework we're residing in a period 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 frequently with pen and paper which just blows my mind each time I I believe
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of a picture they see a lack of exposure likewise encompasses payroll payments and failure to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of global 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 errors are because of time reporting bad HCM information information entry mistakes badly interacted hires and terminations in addition to absence management and system configurations and after that when you round it all off and the information is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments do not run smoothly if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a great question I always throw 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 differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you need to pay from the consumer's own in-country account so there's complexity any place you look ideal eventually constructing a knowledge base is definitely crucial however all over you look with payroll payment they resemble incredibly payments no if but some babies about it you are all superheroes processing payments for payroll if you look at the sort of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are absolutely essential and technology is enabling us to kind of move on with that it also as well to contribute to that payroll and finance require to work closer together um with differing Savings account Details varying banking requirements and setup processes is absolutely necessary that payroll and financing groups work better together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 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 individuals wherever they are but also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more essential to add to kind of the level of complexity there's a growing number of advantages being organ or being offered by services throughout the world so again you're just aiming to add a growing number of payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or genuine tough sort of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would definitely say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that doesn't necessarily need to be the case you know long gone are the times where we require to develop additional handoffs in the processes that we operate in they simply make them more prompt they make them less effective and they don't make them what they need to be in in an era of tech and an age that you know that we are operating in today there is no reason we are still making this as difficult as it requires to be agreed and appropriately as you stated payroll is the single most significant liability that any service has from an expense perspective from an effect perspective on workers it is absolutely vital 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 most significant destructive effect on people's wellness 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 ten years is how little thanks the
The payroll team might not have actually been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all employees or not. Payroll is an important cycle, and individuals only notice when things fail. Nevertheless, when things go right, it's viewed as simply a routine job. This is how it's perceived externally too. Therefore, it is important to guarantee that jobs like Wi-Fi Global and other vital matters are done properly. Using the very first International Payments first payroll payment solution is an excellent initial step towards offering a thorough payroll service for employees worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and checking account necessary for worldwide payroll are key consider achieving company success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a few grievances when things do not go as planned. Eventually, we don't do it for the thankfulness.
anyway we understand how how essential 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 easy as possible for everybody that's associated with those processes and likewise so imagine sorry I'm just I was just gon na state imagine the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that numerous thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be an interesting 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 try to check out them and in fact see what was going on and type of shot to return to everybody so proceeding appearance why do business choose to main different savings account there are businesses out there doing precisely this for specific nations and I have actually worked in a company or many businesses doing exactly that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not producing additional work for anyone where we do not need to and any person that's dealing with that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I think individuals have actually got so utilized to we need a new savings account we open an entity and rightly so you need 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 norm individuals have embraced and continue to do over years and years gone past to add to that individuals have actually taken a look at things like trust accounts and many other ways um to to kind of do it so I believe there's a range I believe this is a procedure that requires looking at it requires changing but ultimately people are very stuck with what they recognize
with ideal um modification is a hard thing we all don't like modification um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the benefits of having keeping several checking account but there's a huge amount of complexity opts for establishing a bank account keeping it guaranteeing it can send out International transfers ensuring it's established with the best user accesses for individual people so the complexity is big but I think the honest response is modification um people have not had the ability to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you know and there is an element of resistance to alter but we've constantly done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what might almost be figured out to be the next Century or so there is a lot to keep track of and this technique does pose numerous obstacles um so Johnny could you inform us about those difficulties yeah naturally so there's a variety right there is so
I just did you switched our Business 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 International workers you are worthy of a corner office with a more detailed parking space since I mastered International payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global