Find out more about Papaya Global Makes Processing Payroll ... We now have the ability to handle both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to handling payments. This provides us with a safe and reliable approach of making payments to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Staff member Website
Workers have access to an Employee Website where they can see their pay slips, wage and tax statements and work files. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps companies use competitive advantages packages to international employees no matter the variety of workers in the company. The business can set up health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local benefits providers in every country, produce regional accounts and have a minimum number of workers.
Global HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, workforce diversity, total employment costs dispersed per location, overall work expenses per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout business managing and structure external relationships supporting Business clients and services in addition to acting as an advisor for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
business to make the time 100 list for a lot of influential companies worldwide we offer payroll payments and workforce management to all worker types in 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 naturally thank you good morning great afternoon good evening depending on where you are in the world it's charming to meet you and thank you quite 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 ten years and particularly dealing with the payroll and payment sector for over seven years um I was amazed by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a real go at that over the last 5 or six years where I've sort of had a variety of different roles on the provider side and also on the supplier side from a payroll point of view so actually looking forward to this conversation today um and yeah thank you quite for your time everybody fine thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody comes from and I truly 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 drizzling here it's very extremely bleak and I want I was elsewhere at this moment in time fine so let's begin 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 separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts improving papaya Global payroll payments as a tactical property uh we'll also discuss a recap and that needs to leave his time at the very extremely end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being a growing number of common and handling them becomes increasingly more complex International organizations are seeking to find Solutions and brand-new ways to simplify procedures particularly from a payroll and cross-border payment standpoint lots of organizations preserve separate savings account just for payroll while some have multiple accounts in different nations does it make sense for business to maintain different bank accounts often in various countries it does but just for payroll is there a much better method what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies enhance the episode complex procedures of
making payroll payments accurately efficiently safely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll bank account how business accurately forecast their payroll costs to increase working capital and how enhancing Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include further complexity the global Labor force is currently three and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's typically an overwhelming variety of various systems causing time-consuming manual procedures and silos the number of Combinations could be non-existent in big amounts and or really very fundamental there's no real consistency structure we're living in an era 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 just 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 just 11 of businesses state they have Labor force data in real time that's another number that gives me sleep deprived nights and rather frankly the more a company spends on global payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can cause compliance mishaps in the last mile of the transaction almost half of worldwide companies have expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are because of time reporting poor HCM data data entry mistakes poorly interacted hires and terminations along with lack management and system setups and after that when you round it all off and the information is delivered to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they count on the required multiple 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 difficulties business face when they're making payments to staff members or otherwise that's a great concern I always toss this back and say what is it what doesn't need to be consisted of ideal and what does
it require to be thought about there's differing 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 any place you look ideal eventually developing a knowledge base is definitely crucial however all over you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely basic and technology is allowing us to sort of move forward with that it likewise also to add to that payroll and finance require to work closer together um with differing Savings account Particulars differing banking requirements and setup processes is definitely vital that payroll and finance groups work more detailed together than ever um I'm always surprised when individuals say I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they divide the payroll payment from computation 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 eventually it's payroll is an end-to-end process it's the point of information collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of essential to add to type of the level of complexity there's more and more advantages being organ or being provided by organizations throughout the world so again you're just wanting to add increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real challenges or real difficult 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 absolutely say that the bigger a company 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 teams feeding details into the next function as it were that's actually handling the payment side of things however you understand in in my viewpoint and my experience that doesn't always need to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we operate in they just make them more timely they make them less efficient and they do not make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason that we are still making this as hard as it needs to be concurred and appropriately as you said payroll is the single greatest liability that any service has from a cost perspective from an effect perspective on employees it is definitely important 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 greatest damaging result on people's well-being and numerous other aspects if individuals aren't paid uh I have actually constantly been astonished entering into this Market type of the last five to ten years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be terrific to hear your success story and whether that's been from all staff members or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everybody jumps up and down when it fails but when it goes right it's simply a tick box workout and I believe that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is absolutely crucial that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment option is a fantastic primary step um providing an end-to-end payroll service for your staff members internationally again I think is another big um procedure again aligning and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of companies and decreasing the variety of tools platforms and savings account they need for their International payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or ten or whatever it might be with the with the the complaints where things haven't gone rather where they're suggested to be um I do not think any of us are in fact doing that for for the thanks
anyway we understand how how essential a function 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 everybody that's associated with those processes and also so imagine sorry I'm simply I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would absolutely be an intriguing job trying to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and in fact see what was going on and sort of try to return to everybody so proceeding appearance why do business select to primary separate checking account there are companies out there doing exactly this for specific 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 produce more work I know we're not purposely doing that we're not producing extra work for anybody where we do not have to and anyone 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 amount that we are I believe lots of reasons one is it's the standard I believe individuals have got so utilized to we require a brand-new bank account we open an entity and appropriately so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have actually looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a procedure that needs looking at it needs changing however ultimately people are very stuck with what they're familiar
with best um modification is a difficult thing we all do not like modification um so I think it's simply sort of moving far from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having maintaining multiple savings account but there's a substantial quantity of intricacy opts for establishing a bank account preserving it ensuring it can send International transfers ensuring it's established with the best user accesses for specific individuals so the complexity is huge however I believe the honest response is modification um individuals have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is understanding you understand and there is a component of resistance to change however we have actually constantly done it that way is no genuine excuse for not taking a look 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 approximately there is a lot to keep track of and this technique does present a number of obstacles um so Johnny could you inform us about those obstacles yeah naturally so there's a variety 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 International staff members you should have a corner workplace with a closer parking space due to the fact that I mastered Worldwide payroll and payments with Papaya payroll OS did you
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