Find out more about Papaya Global Payroll Pension ... We now have the capability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer specifically committed to handling payments. This provides us with a safe and reputable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Employee Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in numerous languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive advantages plans to worldwide employees no matter the variety of employees in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source regional advantages companies in every nation, create local accounts and have a minimum number of staff members.
Global HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force costs, labor force diversity, total employment expenses dispersed per location, total employment expenses per cycle and a lot more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll strategies for as Mark said I work across the business managing and structure external relationships supporting Enterprise clients and services in addition to acting as a consultant for those of you that don't know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for the majority of influential 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 state that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning excellent afternoon good night depending upon where you remain in the world it's charming to fulfill you and thank you quite 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 dealing with the payroll and payment sector for over seven years um I was interested by the complexity the problem in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I've type of had a range of different functions on the provider side and likewise on the supplier side from a payroll viewpoint so really eagerly anticipating this discussion today um and yeah thank you quite for your time everyone fine thanks Johnny uh we'll just give everybody another couple of uh well one of the 30 seconds or so to join all of us work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everybody is um it's nice to to sort of like see where everybody originates from and I truly 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 extremely dreary and I want I was elsewhere at this moment in time all right so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies preserve separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also discuss a wrap-up and that should leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces end up being increasingly more typical and managing them ends up being increasingly more complicated International organizations are wanting to discover Solutions and brand-new methods to enhance processes especially from a payroll and cross-border payment perspective numerous companies maintain separate savings account just for payroll while some have numerous accounts in various nations does it make sense for companies to maintain separate checking account often in different nations it does but just for payroll exists a better method what role do virtual accounts and digital wallets likewise known as virtual wallets play in helping international companies improve the episode complex procedures of
Ensuring accurate, efficient, and prompt payroll payments is a complex difficulty for services running internationally. Join us for a webinar to check out the advantages and downsides of payroll wallets versus payroll checking account, discover how business anticipate payroll expenses to optimize working capital, and discover how streamlining international payroll payments can transform them from a troublesome job into a tactical possession.
Managing payroll globally is an overwhelming task due to numerous regulations, compliance requirements, data security issues, and banking rules. The large variety of employees and businesses adds to the complexity, with an estimated 3.5 billion individuals in the worldwide workforce, 500 countless whom remain in Africa, and 230 million companies worldwide.
Conventional payroll systems frequently lead to manual procedures, data silos, and a lack of combination, causing inconsistencies and ineffectiveness. Regardless of living in an era of technological advancements, payroll management has actually been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and services to simplify and enhance global payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of organizations state they have Workforce information in real time that's another number that gives me sleepless nights and quite honestly the more a company spends on worldwide payroll the less of an image they see a lack of visibility also encompasses payroll payments and failure to properly track these payments can result in compliance mishaps in the last mile of the transaction almost half of global services have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information data entry mistakes inadequately communicated hires and terminations as well as lack management and system configurations and then when you round it all off and the information is delivered to the wrong location the typical cost of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles business face when they're making payments 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 included best and what does
it require to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation 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 customer's own in-country account so there's complexity anywhere you look right eventually constructing a knowledge base is absolutely crucial however all over you look with payroll payment they are like super 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 between fintech and payroll it's closer than ever I believe there's now a bit more acknowledgment that payroll payments are definitely basic and technology is allowing us to kind of progress with that it also too to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars differing banking requirements and setup procedures is absolutely essential that payroll and finance teams work more detailed together than ever um I'm constantly surprised when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so frequently 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 individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being increasingly more important to add to sort of the level of complexity there's more and more advantages being organ or being used by companies across the world so again you're just aiming to add increasingly more payments to this currently intricate landscape so if you kind of got any experience well I'm from your large experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine tough type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of decades I would definitely say that the larger a business gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the task there are groups feeding info into the next function as it were that's in fact managing the payment side of things however you understand in in my opinion and my experience that doesn't always need to be the case you know long gone are the times where we require to create additional handoffs at the same times that we run in they simply make them more prompt they make them less effective and they don't make them what they require to be in in an era of tech and an era that you know that we are working in today there is no reason that we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any service has from an expense point of view from an impact point of view on staff members it is definitely crucial that it's done correctly and on time so what we indicate 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 detrimental impact on people's well-being and lots of other aspects if people aren't paid uh I've constantly been amazed entering into this Market type of the last 5 to ten years is how little thanks the
payroll group get um so I'm unsure anybody on this sort of webinar has actually been told thank you for processing my payroll properly if you have it 'd be great to hear your success story and whether that's been from all employees or not um but eventually payroll is such a crucial cycle all of us become aware of it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's simply a tick box exercise and I believe that's how it's seen from the external view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely crucial that all of this things is done correctly so leveraging the first Worldwide Payments first payroll payment option is a terrific initial step um providing an end-to-end payroll option for your workers worldwide again I think is another huge um procedure once again lining up and ensuring you have standardization Worldwide procedures all of those things are definitely essential to success success of companies and lowering the variety of tools platforms and bank accounts they require for their Worldwide payroll too couldn't agree with you more and on the the front in terms of of the thank yous for getting payroll done I've never ever had a hundred thousand of them within a payroll cycle don't anticipate 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 quite where they're suggested to be um I don't believe any of us are really doing that for for the thanks
anyway we know how how essential 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 easy as possible for everybody that's involved in those procedures and also so imagine sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an interesting task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to look through them and actually see what was going on and type of try to get back to everyone so moving on appearance why do companies pick to main different savings account there are companies out there doing precisely this for particular nations and I have actually operated in an organization or lots of businesses doing precisely that I can say it does not always feel effective and it does produce more work I know we're not intentionally doing that we're not developing extra work for anybody where we don't need to and anyone that's managing 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 lots of factors one is it's the standard I think individuals have got so utilized to we require a new checking account we open an entity and appropriately so you need it for payroll purposes but there are a number of markets where it's not a requirement so I think it's simply been the requirement and the norm individuals have actually embraced 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 variety I believe this is a process that requires taking a look at it requires altering however eventually individuals are very stuck with what they recognize
with ideal um change is a tough thing all of us do not like change um so I think it's simply kind of moving away from the norm as we've said so yeah so it keeps a lot of track of things um I comprehend clearly the benefits of having keeping several bank accounts but there's a substantial amount of intricacy chooses establishing a bank account keeping it ensuring it can send International transfers ensuring it's established with the best user accesses for individual individuals so the complexity is big but I believe the sincere response is change um individuals haven't had the ability to alter or have not had always the understanding to truly make that change into alternate Solutions besides opening a bank account I believe you've struck the nail on the head I think it is understanding you know and there is an aspect of resistance to change but we've always done it that way is no genuine reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could nearly be identified to be the next Century or two there is a lot to keep track of and this technique does posture numerous difficulties um so Johnny might you inform us about those challenges yeah naturally so there's a range right there is so
I recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has actually gotten another CFO, and with this enhanced capability, I have actually successfully protected payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your accomplishments.
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