Find out more about Papaya Global Payroll Out Of What State ... 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 gotten a different Chief Financial Officer particularly devoted to managing payments. This provides us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
Worker Portal
Employees have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The portal is available in numerous languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies provide competitive benefits plans to global workers no matter the number of staff members in the company. The business can set up medical insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the need to source regional advantages companies in every nation, create local accounts and have a minimum variety of workers.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, overall employment expenses dispersed per location, overall employment expenses per cycle and far more.
Worldwide, I have shown leadership and tactical competence in directing large-scale populations of over 100,000 workers throughout 170 nations. Presently, I are accountable for overseeing payroll methods, as discussed by Mark. My role includes managing and developing external partnerships, supporting Business clients, and supplying advisory services. Additionally, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for many influential business worldwide we provide payroll payments and labor force management to all staff member enters 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 introduce yourself of course thank you good morning excellent afternoon great night depending upon 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've been in the payments industry for over 10 years and particularly 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 kind of make a genuine go at that over the last five or six years where I've kind of had a variety of different roles on the supplier side and also on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply give everybody another number of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll type of let them do that so it 'd be rather 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 everybody 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 extremely really dreary and I want I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies keep different
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll likewise go over a recap and that needs to leave his time at the extremely 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 Worldwide labor forces become increasingly more typical and managing them becomes a growing number of complex International organizations are wanting to discover Solutions and new ways to improve processes especially from a payroll and cross-border payment viewpoint many companies preserve separate bank account just for payroll while some have numerous accounts in various countries does it make sense for business to preserve separate bank accounts often in various countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational business enhance the episode complex processes of
making payroll payments precisely efficiently securely and on time during this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll expenses to increase working capital and how enhancing Global payroll payments can turn them from a siled pane into a tactical possession so payroll can be hard in adequate in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a range of reasons most importantly guidelines compliance data security and banking guidelines then there are the sheer numbers they include additional intricacy the international Workforce is presently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and more 1.1 billion individuals 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 worldwide in the traditional payroll model there's typically a frustrating variety of various systems causing lengthy manual procedures and silos the variety of Combinations could be non-existent in big amounts and or very extremely fundamental there's no genuine consistency framework we're residing in an era of tech however payroll has actually been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper which just blows my mind every time I I think
about it to give you an idea of how far there still is to come according to Deloitte only 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and rather frankly the more a business invests in worldwide payroll the less of a photo they see a lack of presence also reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the deal nearly half of global services have actually expressed that they do not have the level of standardization they require 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 interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the information is delivered to the wrong place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the world payroll and payments do not run efficiently if they depend on the needed multiple processes systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties organization face when they're paying to staff members or otherwise that's a great question I always 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 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 have to pay from an in-country account do you have to pay from the consumer's own in-country account so there's intricacy wherever you look ideal eventually constructing a knowledge base is definitely critical but everywhere you look with payroll payment they are like super payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely fundamental and innovation is permitting us to kind of move on with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup procedures is definitely necessary that payroll and finance teams work more detailed together than ever um I'm always surprised when people state I have actually divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't work in the payroll occupation would they split the payroll payment from calculation 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 process it's the point of data collection all the way through to paying people any place they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being more and more important to add to type of the level of intricacy there's increasingly more benefits being organ or being offered by businesses throughout the world so again you're just aiming to include increasingly more payments to this already intricate landscape so if you kind of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of real obstacles or genuine challenging sort of pay utilizes to play to pay individuals I think yeah I mean over the last well yeah a couple of decades I would absolutely say that the bigger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are groups feeding details into the next function as it were that's in fact handling the payment side of things but you know in in my viewpoint and my experience that doesn't always need to be the case you know long gone are the times where we need to develop extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you said payroll is the single greatest liability that any company has from an expense viewpoint from an impact point of view on employees it is absolutely vital that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments need to be done right it has the biggest damaging result on people's wellness and numerous other aspects if individuals aren't paid uh I have actually constantly been surprised entering into this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm uncertain anybody on this sort of webinar has actually been informed thank you for processing my payroll correctly 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 an essential cycle all of us find out about it when it fails everybody 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 stuff is definitely crucial that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment option is an excellent initial step um offering an end-to-end payroll solution for your employees worldwide once again I think is another huge um process again lining up and guaranteeing you have standardization Global procedures all of those things are definitely crucial to success success of organizations and decreasing the number of tools platforms and checking account they need for their Worldwide 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 thousand of 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 grievances where things have not gone rather where they're indicated to be um I don't believe any of us are actually doing that for for the thanks
anyhow we understand 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 easy as possible for everybody that's involved in those procedures and likewise so envision sorry I'm just I was simply gon na say think of 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 hundreds of thousands potentially Millions think of getting that many thank you notes um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and really see what was going on and sort of shot to return to everybody so proceeding appearance why do companies pick to primary different checking account there are services out there doing precisely this for specific countries and I've operated in a service or lots of companies doing precisely that I can state it does not always feel efficient and it does create more work I understand we're not deliberately doing that we're not producing extra work for anyone where we do not need to and any person that's managing 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 amount that we are I believe many reasons one is it's the requirement I believe individuals have got so utilized to we require a brand-new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm individuals have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other ways um to to kind of do it so I think there's a variety I think this is a process that needs taking a look at it needs altering but eventually people are very stuck to what they're familiar
with ideal um modification is a challenging thing all of us don't like modification um so I believe it's just kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the benefits of having preserving several checking account but there's a huge amount of complexity opts for establishing a bank account keeping it ensuring it can send out International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is big but I think the truthful answer is modification um individuals haven't been able to change or haven't had necessarily the knowledge to actually make that change into alternate Solutions aside from opening a checking account I think you've struck the nail on the head I think it is understanding you know and there is an element of resistance to alter however 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 could practically be figured out to be the next Century or two there is a lot to monitor and this method does pose several difficulties um so Johnny might you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you changed our Enterprise 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 International staff members you should have a corner office with a better parking space since I mastered Global payroll and payments with Papaya payroll OS did you
Sure Payroll Vs Papaya Global