Find out more about Papaya Global Payroll Liabilities ... We now have the ability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer particularly dedicated to handling payments. This supplies us with a protected and reliable method of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and work files. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business offer competitive advantages bundles to worldwide employees no matter the variety of workers in the company. The company can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the requirement to source regional benefits suppliers in every country, produce regional accounts and have a minimum number of employees.
The HR abilities provided by Global HR incorporate different functions such as keeping an eye on getaway time, ensuring compliance, assisting in the process of welcoming brand-new workers and bidding farewell to departing ones, using a safe online platform for storing employees' files, and offering assistance for work permit procedures in case your workers require support because area.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, workforce variety, overall work expenses dispersed per area, total work costs per cycle and far more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business managing and structure external relationships supporting Enterprise clients 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 the majority of prominent business in the world we offer payroll payments and labor force management to all staff member types in over 160 nations I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself naturally thank you good morning great afternoon good night depending on 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 industry for over ten years and specifically working on 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 real go at that over the last five or six years where I've type of had a variety of different roles on the company side and also on the supplier side from a payroll point of view so truly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everyone another couple of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to sort of like see where everybody comes from and I really 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 very extremely uninspiring and I want I was elsewhere at this moment in time all right so let's begin our program for today is as follows um we are going to be looking at the obstacle years of handling International payroll why companies maintain separate
bank accounts payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments forecasting payroll expenses using virtual payroll accounts streamlining papaya Worldwide payroll payments as a tactical property uh we'll likewise discuss a recap and that must leave his time at the really really end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of typical and handling them ends up being increasingly more intricate Global organizations are wanting to discover Solutions and new ways to streamline procedures especially from a payroll and cross-border payment standpoint numerous companies preserve separate savings account just for payroll while some have several accounts in different countries does it make sense for business to maintain separate savings account sometimes in various nations it does however just for payroll exists a better method what function do virtual accounts and digital wallets likewise referred to as virtual wallets play in assisting multinational companies simplify the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to enhance working capital, and discover how streamlining international payroll payments can transform them from a challenging task into a strategic possession.
Managing payroll internationally is a difficult task due to various policies, compliance requirements, information security concerns, and banking guidelines. The sheer number of employees and businesses contributes to the complexity, with an approximated 3.5 billion individuals in the international workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems typically lead to manual procedures, information silos, and a lack of combination, leading to disparities and inefficiencies. Despite residing in an age of technological advancements, payroll management has been slow to adjust, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar goals to provide insights and services to streamline and enhance international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of businesses 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 business invests in international payroll the less of an image they see an absence of visibility likewise extends to payroll payments and inability to properly track these payments can cause compliance accidents in the last mile of the transaction nearly half of global businesses have actually revealed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM information information entry mistakes improperly communicated hires and terminations as well as absence management and system configurations and after that when you round it all off and the information is shipped to the incorrect location the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the cash around the globe payroll and payments don't run smoothly if they depend on the essential multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges organization 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 does not need to be included best and what does
it need to be thought of there's varying Bank information 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 need to pay from the client's own in-country account so there's intricacy any place you look ideal ultimately building a knowledge base is absolutely vital but everywhere you look with payroll payment they are like incredibly payments no if but some babies 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 acknowledgment that payroll payments are definitely essential and technology is allowing us to sort of progress with that it also too to add to that payroll and finance require to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is definitely important that payroll and finance teams work better together than ever um I'm constantly amazed when people state I have actually split payroll and payment um if you walk down the street and asked anybody what is payroll who does not 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 frequently 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 people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more important to contribute to type of the level of complexity there's increasingly more benefits being organ or being used by companies throughout the world so once again you're simply aiming to add 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 make certain however have you got any experience in kind of genuine difficulties or real tough sort of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of years I would absolutely say that the larger an organization gets the more it tends to segregate the payroll and the payments works 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 however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create additional handoffs at the same times that we operate in they simply make them more timely they make them less efficient and they do not make them what they need to be in in a period of tech and an age that you know that we are working in today there is no reason we are still making this as challenging as it requires to be agreed and appropriately as you stated payroll is the single greatest liability that any service has from a cost perspective from an effect viewpoint on staff members it is absolutely crucial 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 greatest damaging impact on individuals's well-being and many other aspects if people aren't paid uh I've constantly been astonished entering into this Market type of the last five to 10 years is how little thanks the
payroll team get um so I'm uncertain anybody on this type of webinar has been told thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all employees or not um but ultimately payroll is such a crucial cycle we all become aware of it when it fails everyone jumps up and down when it goes wrong 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 likewise like why WI-Fi Global why all of this things is absolutely important that all of this stuff is done properly so leveraging the very first Global Payments very first payroll payment option is a terrific initial step um offering an end-to-end payroll service for your staff members globally again I believe is another substantial um procedure once again lining up and ensuring you have standardization Worldwide processes all of those things are absolutely crucial to success success of services and minimizing the variety of tools platforms and bank accounts they need for their International payroll too could not agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the problems where things have not gone rather where they're suggested to be um I don't believe any of us are actually doing that for for the thanks
anyhow we know how how important a role 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 think of sorry I'm simply I was simply gon na say think of 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 discussing hundreds of thousands possibly Millions picture getting that numerous thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would definitely be an intriguing task attempting to clean all those up for sure oh definitely I can't imagine 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 in fact see what was going on and sort of try to return to everybody so carrying on look why do companies pick to main different checking account there are organizations out there doing exactly this for specific countries and I've operated in an organization or lots of companies doing precisely that I can say it doesn't constantly feel efficient and it does produce more work I know we're not purposely doing that we're not producing extra work for anybody where we don't need to and anybody 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 factors one is it's the requirement I think people have got so used to we require 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 standard and the standard the people have actually embraced 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 lots of other methods um to to type of do it so I think there's a variety I believe this is a process that requires taking a look at it needs altering however eventually individuals are very stuck with what they're familiar
with right um modification is a difficult thing all of us don't like modification um so I believe it's just kind of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand certainly the advantages of having keeping multiple checking account however there's a huge amount of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big however I think the truthful response is modification um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you have actually hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might nearly be determined to be the next Century or so there is a lot to keep an eye on and this technique does posture a number of difficulties um so Johnny could you tell us about those obstacles yeah naturally so there's a range right there is so
I simply 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 office with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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