Find out more about Papaya Global Azimo ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly committed to handling payments. This provides us with a safe and secure and trusted method of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time each 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 statements and work files. The website is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global assists companies provide competitive advantages packages to international workers no matter the number of staff members in the company. The business can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the requirement to source regional advantages service providers in every nation, produce regional accounts and have a minimum variety of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and immigration services if your staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force variety, overall employment expenses dispersed per location, total employment costs per cycle and a lot more.
environments across the globe I supplied management and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business handling and structure external relationships supporting Business customers and solutions in addition to acting as a consultant for those of you that don't know who papaya Worldwide is papaya is the very first payroll and payments
company to make the time 100 list for many prominent business in the world we offer payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon great night depending upon where you are in the world it's beautiful to meet 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 market for over 10 years and specifically dealing with the payroll and payment sector for over 7 years um I was captivated by the complexity the trouble in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last five or six years where I have actually kind of had a range of different roles on the company side and likewise on the vendor side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply offer 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 sort of let them do that so it 'd be quite fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to kind of like see where everybody comes from and I really do hope it's much sunnier than it is in the UK today definitely not the peak of the sunlight is it it's not no it's it's drizzling here it's very very bleak and I want I was elsewhere at this moment in time alright so let's get started our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies keep different
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it simplifies the complicated process of cross-border payments. Instead of preserving different bank accounts for payroll in different countries, virtual accounts and digital wallets offer a more structured option. In this webinar, we will explore the advantages of using virtual payroll accounts and go over why they are becoming a tactical property for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Making sure accurate, efficient, and timely payroll payments is a complex challenge for businesses running globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, find out how business anticipate payroll costs to optimize working capital, and discover how improving international payroll payments can change them from a troublesome task into a tactical asset.
Managing payroll globally is a difficult task due to numerous regulations, compliance requirements, data security issues, and banking guidelines. The large number of workers and organizations contributes to the complexity, with an estimated 3.5 billion people in the international labor force, 500 million of whom remain in Africa, and 230 million organizations worldwide.
Traditional payroll systems often lead to manual processes, information silos, and an absence of integration, resulting in disparities and inadequacies. Regardless of residing in an age of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to supply insights and solutions to streamline and enhance global payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more an organization spends on worldwide payroll the less of a picture they see an absence of presence also encompasses payroll payments and failure to precisely track these payments can lead to compliance accidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes poorly communicated hires and terminations along with lack management and system setups and after that when you round all of it off and the data is delivered to the incorrect location the typical expense of a worldwide data 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 do not run efficiently if they depend on the essential numerous processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to employees or otherwise that's a great concern I always throw 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 information so the length of an eye band a swift an account number routing code per country there's payment time frames 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 customer's own in-country account so there's intricacy wherever you look right ultimately constructing a knowledge base is absolutely critical but everywhere you look with payroll payment they resemble very payments no if however some infants about it you are all superheroes processing payments for payroll if you take a look at the sort of link in 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 move on with that it also as well to add to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely necessary that payroll and financing groups work more detailed together than ever um I'm constantly surprised when people state I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work 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 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 any place they are but also paying statutory authorities and on statutory 3rd parties so with the
The modern world places a high value on well-being and the settlement landscape is ending up being progressively detailed. Businesses are constantly introducing new advantages and payment choices, which contributes to the general complexity. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inefficiencies and bottlenecks. In my opinion, this doesn't need to be the case. In today's highly advanced period, there's no validation for preserving cumbersome treatments. Payroll, the business's most significant cost, need to be processed properly and on time. Even slight delays can negatively affect staff members' well-being and have significant consequences. Therefore, it's crucial to focus on precise and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and individuals only see when things go wrong. However, when things go right, it's seen as just a regular task. This is how it's perceived externally also. For that reason, it is essential to guarantee that tasks like Wi-Fi Global and other vital matters are done properly. Using the very first Worldwide Payments first payroll payment solution is a fantastic initial step towards offering a detailed payroll option for staff members worldwide. Standardization, international processes, and lowering the number of tools, platforms, and checking account needed for worldwide payroll are key consider attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically get a couple of problems when things do not go as planned. Eventually, we don't do it for the gratitude.
anyway we understand 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 everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na state envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make certain we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would absolutely be an interesting job trying to clean all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and type of shot to return to everyone so moving on look why do companies select to primary different savings account there are companies out there doing precisely this for particular nations and I've worked in a company or numerous businesses doing precisely that I can say it does not always feel efficient and it does create more work I know we're not purposely doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with 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 quantity that we are I think lots of factors one is it's the standard I think individuals have got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually embraced and continue to do over years and years passed by to add to that individuals have 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 range I think this is a process that needs taking a look at it needs changing but eventually individuals are extremely stuck with what they recognize
with ideal um modification is a challenging thing we all do not like change um so I believe it's simply sort of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of things um I comprehend undoubtedly the advantages of having maintaining numerous bank accounts but there's a huge quantity of intricacy chooses setting up a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for specific individuals so the complexity is substantial but I believe the truthful response is modification um people have not had the ability to change or haven't had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I think it is understanding you know and there is a component of resistance to change however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of carrying on and moving into you understand what might almost be identified to be the next Century or so there is a lot to keep an eye on and this method does posture several challenges um so Johnny could you tell us about those obstacles yeah naturally so there's a variety 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 Global workers you deserve a corner office with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bangalore Office Location