Find out more about Papaya Global Payroll Can I Have Negative Reimbursement ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a protected and dependable approach of paying to our 10,000 workers worldwide.}
The advanced international payroll management app simplifies my payroll process, saving me a considerable amount of time each month. With its easy to use interface, I have access to a single dashboard that effectively handles my payroll, EOR, and professionals.
The Staff member Portal supplies staff members with the ability to gain access to and view essential files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is offered in various languages.
Benefits Administration
Papaya Global helps companies use competitive advantages bundles to international staff members despite the number of employees in the company. The company can set up health 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 nation, create regional accounts and have a minimum number of employees.
The HR abilities supplied by Global HR include numerous functions such as monitoring getaway time, guaranteeing compliance, assisting in the procedure of inviting new staff members and bidding farewell to departing ones, using a secure online platform for saving workers' files, and offering assistance for work allow treatments in case your employees require help because location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force variety, overall work costs distributed per location, overall work expenses per cycle and far more.
Internationally, I have shown management and tactical knowledge in directing massive populations of over 100,000 staff members throughout 170 countries. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function involves handling and developing external partnerships, supporting Business clients, and supplying advisory services. Furthermore, I am proud to be a part of Papaya Global, a pioneering payroll and payments options service provider.
business to make the time 100 list for most prominent companies worldwide we offer payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon excellent evening depending on where you are in the world it's charming 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 have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was fascinated by the complexity the difficulty in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I've kind of had a range of various functions on the provider side and also on the vendor side from a payroll viewpoint so really looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply offer everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays 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 sort of like see where everyone originates 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 very very dreary and I want I was somewhere else at this moment in time alright so let's begin our program for today is as follows um we are going to be looking at the difficulty years of managing Global payroll why business preserve separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll also go over a wrap-up and that needs to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of common and handling them ends up being increasingly more complex International companies are looking to discover Solutions and brand-new methods to streamline procedures specifically from a payroll and cross-border payment standpoint numerous companies preserve different bank account just for payroll while some have numerous accounts in various nations does it make good sense for business to maintain different bank accounts in some cases in different nations it does but just for payroll is there a much better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies streamline the episode complex processes of
making payroll payments precisely efficiently firmly and on time throughout this webinar we'll walk you through the international advantages and disadvantages of a payroll wallet versus a payroll savings account how business properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be hard in enough in one nation but when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add additional complexity the global Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion people 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 all over the world in the conventional payroll design there's often a frustrating variety of different systems causing lengthy manual procedures and silos the variety of Integrations could be non-existent in large amounts and or extremely really 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 just blows my mind each time I I believe
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 information in real time that's another number that offers me sleep deprived nights and rather honestly the more a service invests in international payroll the less of a picture they see an absence of exposure also encompasses payroll payments and failure to accurately track these payments can lead to compliance accidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry errors inadequately interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect place the average cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they rely on the essential several processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's a good concern I constantly throw this back and state what is it what does not require to be consisted of right and what does
it need to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per country there's payment amount of time 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 client's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely vital however everywhere you look with payroll payment they are like extremely payments no if however some infants about it you are all superheroes processing payments for payroll if you take a 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 essential and innovation is enabling us to sort of move on with that it also too to contribute to that payroll and financing need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and finance groups work better together than ever um I'm constantly impressed when people 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 occupation would they split the payroll payment from computation I would say no so why do we as an industry 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 but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being increasingly more crucial to add to sort of the level of intricacy there's more and more advantages being organ or being provided by businesses throughout the world so again you're just aiming to add more and more payments to this currently complex 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 difficulties or genuine difficult sort of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of years I would certainly say that the larger an organization 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 groups feeding information into the next function as it were that's really managing the payment side of things but you know in in my opinion and my experience that does not always need to be the case you know long gone are the times where we need to produce additional handoffs at the same times that we operate in they just make them more timely they make them less efficient 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 challenging as it requires to be agreed and rightly as you said payroll is the single greatest liability that any service has from a cost perspective from an impact viewpoint on employees it is definitely important that it's done correctly 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 greatest detrimental effect on people's wellness and lots of other elements if people aren't paid uh I've constantly been astonished entering into this Market type of the last five to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has been told 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 workers or not um but eventually payroll is such a crucial cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external deem well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this stuff is done properly so leveraging the first Global Payments first payroll payment option is a great first step um supplying an end-to-end payroll option for your staff members internationally once again I think is another huge um process again aligning and ensuring you have standardization International procedures all of those things are absolutely essential to success success of businesses and lowering the variety of tools platforms and bank accounts they require for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never ever had a hundred countless them within a payroll cycle do not expect to you do get the odd five or ten or whatever it might be with the with the the problems where things haven't gone quite where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how essential a function 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 involved in those processes and also so think of sorry I'm simply I was simply gon na state picture the quantity of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're discussing hundreds of thousands possibly Millions picture getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would definitely be a fascinating job attempting 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 require days of the week to try to check out them and actually see what was going on and kind of shot to get back to everybody so carrying on look why do business choose to main separate savings account there are businesses out there doing exactly this for specific nations and I have actually operated in a company or lots of companies doing precisely that I can say it doesn't always feel effective and it does develop more work I know we're not deliberately doing that we're not developing extra work for anybody where we do not need to and anybody that's dealing with that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think many factors one is it's the standard I think individuals have got so utilized to we need a brand-new savings 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 simply been the standard and the norm individuals have actually adopted and continue to do over years and years gone past to contribute to that individuals have taken a look at things like trust accounts and lots of other methods um to to type of do it so I believe there's a range I think this is a procedure that needs looking at it needs altering however eventually individuals are very stuck to what they recognize
with right um change is a difficult thing we all don't like change um so I believe it's simply sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the benefits of having preserving multiple savings account however there's a huge quantity of intricacy goes with setting up a savings account preserving it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific people so the complexity is substantial however I believe the truthful answer is modification um individuals have not been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to change however we have actually always done it that way is no genuine reason for not looking at the the advantages and the possibilities of carrying on and moving into you know what might practically be figured out to be the next Century approximately there is a lot to monitor and this method does pose a number of challenges um so Johnny could you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this boosted capability, I have effectively secured payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is closer, considering your accomplishments.
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