Find out more about Papaya Global Payroll Itunes ... 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 acquired a different Chief Financial Officer particularly devoted to managing payments. This offers us with a protected and trustworthy technique of making payments to our 10,000 employees worldwide.}
The innovative international payroll management app improves my payroll procedure, saving me a substantial quantity of time each month. With its user-friendly user interface, I have access to a single control panel that effectively manages my payroll, EOR, and specialists.
The Employee Website offers employees with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global assists companies offer competitive advantages packages to worldwide staff members regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the need to source regional advantages suppliers in every country, produce regional accounts and have a minimum variety of employees.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce spending, labor force variety, total employment costs distributed per area, total work expenses per cycle and far more.
environments around the world I provided leadership and technique to populations of over a hundred thousand employees in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business handling and building external relationships supporting Enterprise customers and options as well as functioning as a consultant for those of you that do not know who papaya International is papaya is the first payroll and payments
company to make the time 100 list for a lot of influential companies in the world we supply payroll payments and labor force management to all staff member key ins 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 of course thank you good morning good afternoon good night depending upon where you remain in the world it's lovely to fulfill 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 been in the payments industry for over 10 years and particularly dealing with the payroll and payment sector for over seven years um I was fascinated by the intricacy the trouble in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last five or 6 years where I've kind of had a range of different functions on the supplier side and also on the supplier side from a payroll point of view so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another number of uh well one of the 30 seconds or so to join we all work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone comes from and I truly do hope it's much sunnier than it remains 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 extremely really bleak 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 companies keep separate
Virtual payroll accounts are an option to conventional savings account for managing payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of preserving separate savings account for payroll in various countries, virtual accounts and digital wallets use a more streamlined service. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a recap of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll checking account how companies precisely 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 difficult in sufficient in one country but when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most notably policies compliance information security and banking rules then there are the sheer numbers they add more complexity the international Labor force is presently 3 and a half billion people by 2030 it's estimated 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 companies and growing all doing their own thing around the globe in the conventional payroll model there's frequently an overwhelming variety of various systems causing lengthy manual processes and silos the number of Integrations could be non-existent in big amounts and or really extremely basic there's no real consistency framework we're living in an age of tech but payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper which just 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 businesses say they have Labor force information in real time that's another number that provides me sleep deprived nights and quite frankly the more a service invests in worldwide payroll the less of an image they see a lack of presence also extends to payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide businesses have actually revealed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of mistakes are because of time reporting poor HCM information data entry mistakes poorly interacted hires and terminations in addition to absence management and system configurations and then when you round everything off and the information is delivered to the wrong location the typical cost of an international data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run efficiently if they depend on the required multiple processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the challenges business face when they're paying to staff members or otherwise that's a good question I constantly throw this back and say what is it what doesn't need to be included ideal and what does
it require to be thought of there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment timespan there's payment capabilities 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 client's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely essential and innovation is enabling us to kind of progress with that it likewise as well to add to that payroll and finance need to work closer together um with varying Checking account Particulars varying banking requirements and setup processes is definitely crucial that payroll and financing groups work closer together than ever um I'm always impressed when people say I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide 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 process it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The modern-day world places a high value on wellness and the payment landscape is ending up being increasingly elaborate. Services are continuously presenting brand-new advantages and payment options, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into separate teams, which can result in ineffectiveness and traffic jams. In my opinion, this doesn't need to be the case. In today's technically advanced period, there's no validation for keeping cumbersome procedures. Payroll, the company's most significant expenditure, must be processed correctly and on time. Even minor delays can negatively impact employees' well-being and have far-reaching consequences. For that reason, it's critical to prioritize precise and timely payments.
payroll team get um so I'm unsure anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be great to hear your success story and whether that's been from all employees or not um however eventually payroll is such a crucial cycle we all find out about it when it fails everybody jumps up and down when it goes wrong but when it goes right it's just a tick box exercise and I think that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first Global Payments first payroll payment option is an excellent primary step um offering an end-to-end payroll service for your staff members worldwide once again I think is another substantial um procedure once again lining up and ensuring you have standardization International processes all of those things are definitely key to success success of services and decreasing the number of tools platforms and bank accounts they need for their Global 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 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 complaints where things haven't gone rather where they're implied to be um I do not think any of us are in fact doing that for for the thanks
anyhow we know how how crucial 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 everyone that's associated with those processes and likewise so envision sorry I'm simply I was just gon na state imagine the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions think of getting that numerous thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task trying to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd require days of the week to try to browse them and actually see what was going on and sort of try to return to everybody so proceeding appearance why do companies pick to primary separate bank accounts there are organizations out there doing precisely this for specific nations and I have actually operated in a business or lots of companies doing exactly that I can state it doesn't constantly feel efficient and it does develop more work I know we're not intentionally doing that we're not producing additional work for anybody where we do not need to and anyone that's handling 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 lots of reasons one is it's the requirement I think people have got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a number of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted 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 numerous other ways um to to sort of do it so I believe there's a variety I believe this is a procedure that needs taking a look at it requires changing however eventually individuals are really stuck to what they're familiar
with best um change is a challenging thing all of us do not like modification um so I think it's just type of moving away from the norm as we've said so yeah so it keeps a lot of track of stuff um I comprehend undoubtedly the advantages of having keeping numerous savings account but there's a big amount of intricacy opts for establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is substantial but I believe the honest answer is change um people haven't had the ability to alter or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I think you have actually hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've constantly done it that way is no real reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be figured out to be the next Century approximately there is a lot to keep an eye on and this approach does present a number of difficulties um so Johnny could you tell us about those challenges yeah obviously so there's a variety right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced capability, I have successfully protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is better, considering your accomplishments.
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