Find out more about Papaya Global Payroll Ad Banner ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer specifically dedicated to managing payments. This supplies us with a safe and trusted technique of paying to our 10,000 workers worldwide.}
The cutting-edge global payroll management app enhances my payroll process, saving me a considerable amount of time each month. With its user-friendly user interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and contractors.
Worker Website
Workers have access to a Worker Portal where they can see their pay slips, wage and tax statements and work documents. The portal is readily available in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business offer competitive advantages bundles to international workers no matter the number of workers in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source local benefits suppliers in every country, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force diversity, total employment costs dispersed per place, total employment costs per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise clients and solutions as well as acting as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
business to make the time 100 list for a lot of prominent business on the planet we supply payroll payments and workforce management to all staff member key ins over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon excellent night depending upon where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually remained in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was amazed by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I have actually sort of had a variety of different functions on the provider side and also on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everyone okay thanks Johnny uh we'll simply offer everyone another couple of uh well among 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 interesting and I can see it going on currently simply to hear where everyone is um it's nice to to sort of like see where everybody comes from and I actually do hope it's much sunnier than it remains 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 okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies maintain separate
Virtual payroll accounts are an option to conventional bank accounts for handling payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it simplifies the intricate procedure of cross-border payments. Instead of keeping separate savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined option. In this webinar, we will check out the advantages of using virtual payroll accounts and talk about why they are ending up being a tactical property for payroll executives. We will also provide a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently firmly and on time during this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how companies properly anticipate their payroll expenses to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in enough in one country however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of factors most importantly policies compliance data security and banking rules then there are the large numbers they include more intricacy the international Workforce is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people that number is currently 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 globe in the standard payroll model there's typically a frustrating variety of different systems leading to lengthy manual procedures and silos the number of Combinations could be non-existent in big amounts and or very very fundamental there's no real consistency structure we're residing in an age of tech but payroll has been sluggish 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 whenever I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of organizations state they have Labor force information in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of a picture they see an absence of exposure likewise extends to payroll payments and failure to accurately track these payments can result in compliance accidents in the last mile of the deal nearly half of international organizations have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry errors poorly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the information is shipped to the wrong place the average expense 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 efficiently if they count on the needed multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're making payments to workers or otherwise that's a good concern I constantly toss this back and state what is it what doesn't require to be included ideal and what does
it require to be considered there's differing Bank information 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 need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy any place you look right eventually constructing a knowledge base is definitely crucial but all over you look with payroll payment they are like incredibly payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the kind 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 fundamental and innovation is allowing us to kind of move on with that it also too to contribute to that payroll and finance require to work closer together um with differing Checking account Details varying banking requirements and setup procedures is absolutely crucial that payroll and financing groups work more detailed together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't work in the payroll profession would they divide the payroll payment from computation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals anywhere 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 important to add to sort of the level of intricacy there's a growing number of advantages being organ or being provided by companies across the world so once again you're simply looking to include increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of real obstacles or real tough kind of pay uses to play to pay individuals I think yeah I suggest over the last well yeah a number of decades I would certainly say that the bigger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the task there are teams feeding info 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 does not necessarily require to be the case you know long gone are the times where we need to create additional handoffs while doing sos that we run in they just make them more prompt they make them less effective and they don't make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason that we are still making this as tough as it needs to be concurred and rightly as you said payroll is the single most significant liability that any business has from a cost perspective from an impact point of view on staff members it is absolutely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the most significant damaging result on individuals's well-being and many other aspects if individuals aren't paid uh I've constantly been surprised coming into this Market type of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll throughout a webinar. If anybody has actually been thanked, it would be great to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and people only discover when things go wrong. However, when things go right, it's viewed as simply a routine task. This is how it's perceived externally too. Therefore, it is important to ensure that tasks like Wi-Fi Worldwide and other important matters are done properly. Using the first Worldwide Payments first payroll payment solution is a great preliminary step towards supplying a detailed payroll solution for employees worldwide. Standardization, worldwide procedures, and minimizing the number of tools, platforms, and savings account essential for worldwide payroll are key consider attaining organization success. While we do not expect a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few problems when things don't go as planned. Eventually, we don't do it for the gratitude.
anyway we know 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 simple as possible for everybody that's involved in those procedures and also so think of sorry I'm simply I was simply gon na say picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I'm sure we're discussing numerous thousands possibly Millions envision getting that lots of thank you notes um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and in fact see what was going on and kind of shot to return to everyone so moving on appearance why do companies choose to primary different savings account there are services out there doing precisely this for specific nations and I've operated in a company or lots of businesses doing exactly that I can state it doesn't always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anybody where we do not have to and any person that's managing 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 amount that we are I think lots of reasons one is it's the requirement I believe individuals have actually got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll functions however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard individuals have adopted and continue to do over years and years passed by to add to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I think this is a process that needs taking a look at it needs altering however eventually people are really stuck to what they're familiar
with ideal um change is a difficult thing we all don't like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the advantages of having preserving several savings account but there's a huge quantity of complexity opts for setting up a savings account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for private individuals so the complexity is substantial however I believe the sincere answer is modification um people have not had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a savings account I believe you have actually hit the nail on the head I think it is understanding you understand and there is a component of resistance to change but we have actually constantly done it that way is no real reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what could almost be figured out to be the next Century or so there is a lot to track and this approach does pose a number of challenges um so Johnny could you inform us about those challenges yeah of course so there's a variety right there is so
I just did you changed 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 Worldwide employees you are worthy of a corner workplace with a closer parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global