Find out more about Papaya Global Belarus ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually acquired a separate Chief Financial Officer particularly committed to managing payments. This offers us with a safe and trustworthy approach of making payments to our 10,000 staff members worldwide.}
the BEST global payroll managment app, saves me hours of time each month, one single dashboard for my payroll, EOR and professionals
The Employee Portal provides employees with the ability to gain access to and view crucial files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile phones and is used in various languages.
Benefits Administration
Papaya Global assists business use competitive benefits plans to global staff members regardless of the variety of workers in the company. The company can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source regional advantages companies in every country, produce local accounts and have a minimum variety of workers.
International HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment costs dispersed per place, overall employment expenses per cycle and far more.
environments across the globe I supplied management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business handling and structure external relationships supporting Enterprise customers and services in addition to serving as an advisor for those of you that do not know who papaya Global is papaya is the first payroll and payments
company to make the time 100 list for many influential companies on the planet we supply payroll payments and labor force management to all staff member key ins over 160 nations I am pleased to state 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 evening depending upon where you are 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 fascinated by the intricacy the problem in all of the above of
payroll payments and chose to kind of make a genuine go at that over the last 5 or six years where I've kind of had a range of different roles on the service provider side and likewise on the vendor side from a payroll perspective so truly eagerly anticipating this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll simply offer everybody another number 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 already just to hear where everyone is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I want I was elsewhere at this moment in time okay so let's start our agenda for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep different
checking account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts enhancing papaya International payroll payments as a tactical possession uh we'll likewise discuss a recap which ought to leave his time at the extremely very 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 become a growing number of typical and handling them ends up being more and more complex Global companies are looking to find Solutions and new ways to streamline procedures particularly from a payroll and cross-border payment standpoint many companies maintain separate savings account just for payroll while some have multiple accounts in various nations does it make sense for companies to keep separate bank accounts sometimes in different countries it does however just for payroll is there a better way what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping international companies simplify the episode complex procedures of
Making sure precise, effective, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the benefits and drawbacks of payroll wallets versus payroll bank accounts, discover how business anticipate payroll costs to enhance working capital, and discover how enhancing international payroll payments can change them from a troublesome task into a strategic asset.
Managing payroll worldwide is a complicated task due to different regulations, compliance requirements, information security issues, and banking guidelines. The sheer number of employees and businesses contributes to the complexity, with an approximated 3.5 billion people in the worldwide workforce, 500 million of whom are in Africa, and 230 million services worldwide.
Standard payroll systems often result in manual processes, data silos, and a lack of combination, leading to disparities and inadequacies. Regardless of living in a period of technological advancements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar goals to offer insights and solutions to streamline and optimize international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a business invests in global payroll the less of a picture they see a lack of exposure also extends to payroll payments and inability to precisely track these payments can lead to compliance mishaps in the last mile of the deal nearly half of global businesses have actually expressed that they don't have the level of standardization they need in their procedures or want and as a result eighty percent of errors are due to time reporting poor HCM data data entry mistakes poorly communicated hires and terminations as well as lack management and system configurations and after that when you round it all off and the information is shipped to the wrong place the average expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the world payroll and payments don't run smoothly if they count on the essential several processes systems and partners it is just 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 staff members or otherwise that's a good concern I always throw this back and state what is it what doesn't require to be included best and what does
it need to be considered there's differing 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 need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal ultimately developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the kind 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 definitely basic and technology is enabling us to kind of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup procedures is definitely essential that payroll and finance groups work more detailed together than ever um I'm constantly amazed when people state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 eventually 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 but likewise paying statutory authorities and on statutory third parties so with the
The modern-day world puts a high worth on well-being and the payment landscape is ending up being progressively complex. Organizations are continually introducing new advantages and payment options, which contributes to the general intricacy. Big corporations typically divide their payroll and payment processing into different teams, which can result in inefficiencies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's highly innovative era, there's no validation for keeping cumbersome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even minor hold-ups can adversely affect workers' wellness and have significant consequences. Therefore, it's important to focus on precise and timely payments.
payroll team get um so I'm not exactly sure anybody on this kind of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all staff members or not um but eventually payroll is such an essential cycle all of us become aware of it when it fails everyone jumps up and down when it goes wrong however when it goes right it's simply 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 stuff is definitely essential that all of this things is done properly so leveraging the very first International Payments very first payroll payment solution is a fantastic initial step um offering an end-to-end payroll solution for your employees worldwide again I think is another substantial um procedure again lining up and ensuring you have standardization Worldwide processes all of those things are definitely key to success success of organizations and reducing the variety of tools platforms and checking account they need for their International 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 have actually never had a hundred thousand of them within a payroll cycle don't 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 suggested to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 associated with those procedures and likewise so think of sorry I'm simply I was just gon na state picture 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 discussing hundreds of thousands potentially 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 however it would absolutely be an intriguing task attempting to clean 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 require days of the week to attempt to look through them and actually see what was going on and type of shot to get back to everyone so carrying on appearance why do business pick to main different checking account there are organizations out there doing exactly this for particular nations and I have actually worked in a service or lots of services doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not purposely doing that we're not producing extra work for anyone where we do not have to and anyone that's managing that procedure I 'd be interested to hear your ideas Johnny why do you believe 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 believe individuals have actually got so utilized to we need a new checking account we open an entity and rightly so you require 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 standard the people have actually embraced and continue to do over years and years gone past to add to that people have looked at things like trust accounts and lots of other ways um to to sort of do it so I think there's a variety I think this is a process that requires taking a look at it needs changing but ultimately people are very stuck to what they're familiar
with right um modification is a challenging thing we all don't like change um so I believe it's just kind of moving far from the standard as we have actually said so yeah so it keeps a great deal of track of things um I understand undoubtedly the advantages of having keeping several checking account however there's a substantial quantity of complexity opts for setting up a checking account maintaining it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual people so the intricacy is big however I believe the truthful answer is modification um people have not had the ability to change or haven't had always the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually struck the nail on the head I believe it is knowledge you know and there is a component of resistance to change but we have actually constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you understand what might nearly be identified to be the next Century or so there is a lot to monitor and this technique does pose several challenges um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just 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 International staff members you are worthy of a corner office with a closer parking space because I mastered International payroll and payments with Papaya payroll OS did you
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