Find out more about Papaya Global Payroll Corporate Office ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and secure and trusted method of making payments to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to a Worker Portal where they can see their pay slips, wage and tax statements and employment files. The portal is available in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages bundles to worldwide workers despite the variety of workers in the business. The business can establish health insurance, short-term and long-term impairment, vision, dental and maternity leave while removing the requirement to source local advantages service providers in every country, develop local accounts and have a minimum variety of employees.
The HR abilities supplied by International HR include various functions such as monitoring getaway time, making sure compliance, facilitating the process of inviting new employees and bidding goodbye to leaving ones, providing a safe online platform for keeping employees' files, and offering support for work allow treatments in case your employees require help in that area.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce variety, total employment costs distributed per location, overall employment costs per cycle and a lot more.
Internationally, I have actually shown leadership and strategic competence in directing large-scale populations of over 100,000 employees throughout 170 nations. Currently, I are accountable for managing payroll methods, as pointed out by Mark. My function includes managing and developing external partnerships, supporting Business customers, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions supplier.
company to make the time 100 list for the majority of influential companies worldwide we offer payroll payments and workforce management to all worker types in over 160 nations I am pleased to say that we likewise have as Mark said Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good night depending upon where you are in the world it's lovely to fulfill you and thank you very much for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the trouble in all of the above of
payroll payments and decided to kind of make a real go at that over the last 5 or six years where I have actually sort of had a range of various roles on the supplier side and likewise on the supplier side from a payroll perspective so actually anticipating this conversation today um and yeah thank you quite for your time everyone okay thanks Johnny uh we'll just give everybody another number of uh well one of the 30 seconds approximately to join all of us work back to back these days 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 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 drizzling here it's really extremely gloomy and I want I was elsewhere at this moment in time all right so let's get started our agenda for today is as follows um we are going to be looking at the obstacle years of managing Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts improving papaya International payroll payments as a tactical property uh we'll also review a wrap-up and that must leave his time at the extremely very end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more typical and managing them ends up being a growing number of intricate Global companies are looking to find Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment viewpoint numerous companies preserve different savings account just for payroll while some have multiple accounts in various nations does it make good sense for business to maintain separate checking account often in different countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international business simplify the episode complex processes of
making payroll payments precisely efficiently securely and on time throughout this webinar we'll walk you through the global advantages and disadvantages of a payroll wallet versus a payroll savings account how companies properly forecast their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one country however when you're doing it globally it's next level and Beyond it ends up being complex for a range of reasons most importantly guidelines compliance information security and banking guidelines then there are the sheer numbers they include more intricacy the worldwide Labor force is currently three 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 presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the traditional payroll design there's typically a frustrating number of various systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in large quantities and or really really standard there's no real consistency framework we're living in an era of tech however 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 simply blows my mind each time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that offers me sleep deprived nights and quite frankly the more a business invests in global payroll the less of a photo they see an absence of presence likewise encompasses payroll payments and failure to precisely track these payments can result in compliance accidents in the last mile of the deal almost half of global organizations have actually revealed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of mistakes are due to time reporting poor HCM data information entry errors badly communicated hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the incorrect location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run smoothly if they count on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the obstacles service face when they're paying to staff members or otherwise that's a good concern I always throw this back and say what is it what doesn't require to be consisted of ideal and what does
it require to be thought about there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's intricacy wherever you look right ultimately developing a knowledge base is absolutely important however all over you look with payroll payment they are like super 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely fundamental and innovation is permitting us to sort of progress with that it also as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details differing banking requirements and setup procedures is absolutely essential that payroll and financing teams work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who doesn't operate in the payroll occupation 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 often split and cut up um ultimately it's payroll is an end-to-end process it's the point of data collection all the way through to paying individuals wherever they are however likewise paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more crucial to contribute to kind of the level of intricacy there's a growing number of benefits being organ or being used by organizations throughout the world so again you're simply wanting to include more and more payments to this already complicated landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of real challenges or real tough kind of pay utilizes to play to pay people I think yeah I mean over the last well yeah a number of years I would absolutely state that the larger an organization gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding information into the next function as it were that's actually managing the payment side of things however you know 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 create extra handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an era of tech and an age that you understand that we are operating in today there is no reason that we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any service has from an expense point of view from an effect viewpoint on staff members it is definitely critical that it's done correctly and on time so what we suggest 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 destructive result on people's wellness and numerous other aspects if individuals aren't paid uh I've always been astonished coming into this Market kind of the last 5 to ten years is how little thanks the
The payroll team may not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just notice when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally too. For that reason, it is important to ensure that jobs like Wi-Fi International and other crucial matters are done correctly. Using the very first International Payments very first payroll payment option is a fantastic initial action towards offering a thorough payroll service for workers worldwide. Standardization, global processes, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial factors in achieving company success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as planned. Ultimately, we do not do it for the gratitude.
anyhow we understand how how crucial 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 involved in those processes and also so think of 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 certain we're talking about numerous thousands potentially Millions envision getting that lots of thank you notes um I imply 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 up all those up for sure oh absolutely I can't think of the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to look through them and actually see what was going on and kind of shot to return to everybody so moving on look why do companies choose to primary separate checking account there are businesses out there doing precisely this for particular nations and I've worked in a business or lots of businesses doing precisely that I can say it doesn't always feel effective and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we don't need to and any person that's dealing with that process 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 think lots of factors one is it's the requirement I think people have actually got so used to we need a brand-new checking account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I believe it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have 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 looking at it needs changing however eventually people are extremely stuck with what they recognize
with best um change is a challenging thing all of us do not like modification um so I think it's just kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand clearly the benefits of having maintaining numerous savings account however there's a huge quantity of complexity opts for setting up a savings account keeping it ensuring it can send out International transfers guaranteeing it's established with the best user accesses for individual individuals so the intricacy is huge but I believe the honest response is change um people haven't had the ability to alter or have not had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you have actually struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to alter but we've always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of moving on and moving into you know what might practically be determined to be the next Century or two there is a lot to keep track of and this technique does pose several difficulties um so Johnny might you inform us about those challenges yeah of course so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually acquired another CFO, and with this improved capability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is closer, considering your accomplishments.
Sure Payroll Vs Papaya Global