Find out more about Papaya Global Equatorial Guinea ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically devoted to handling payments. This offers us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single dashboard for my payroll, EOR and professionals
Employee Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and work documents. The website is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies provide competitive benefits packages to global workers despite the variety of workers in the company. The business can set up health insurance, short-term and long-term special needs, vision, dental and maternity leave while removing the need to source regional advantages companies in every nation, develop local accounts and have a minimum number of employees.
Global HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force variety, total work expenses distributed per location, overall employment expenses per cycle and far more.
environments around the world I offered management and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll strategies for as Mark said I work across the business handling and building external relationships supporting Enterprise customers and options as well as serving as an advisor for those of you that don't understand who papaya Global is papaya is the first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most prominent companies worldwide. We concentrate on offering payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to satisfy you and thank you for your valuable time. As Ian mentioned, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually concentrated on payroll and payment options for the past seven years. The intricacies and obstacles of this field have constantly mesmerized me.
payroll payments and decided 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 company side and also on the supplier side from a payroll point of view so truly looking forward to this discussion today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply give 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 kind of let them do that so it 'd be rather fascinating and I can see it going on already 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 certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely uninspiring and I want I was elsewhere at this moment in time all right so let's start our agenda for today is as follows um we are going to be looking at the obstacle years of handling International payroll why business preserve separate
savings account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical asset uh we'll also review 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 suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become increasingly more common and handling them becomes a growing number of complicated Worldwide companies are wanting to discover Solutions and new methods to improve procedures particularly from a payroll and cross-border payment viewpoint lots of organizations keep separate bank account just for payroll while some have several accounts in different countries does it make sense for companies to preserve separate bank accounts in some cases in various nations it does but just for payroll is there a much better way what function do virtual accounts and digital wallets also known as virtual wallets play in assisting multinational companies streamline the episode complex processes of
making payroll payments properly effectively firmly and on time throughout this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll savings account how business precisely anticipate their payroll costs to increase working capital and how improving Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one country but when you're doing it globally it's next level and Beyond it ends up being intricate for a range of factors most importantly policies compliance information security and banking rules then there are the sheer numbers they add further intricacy the worldwide Labor force is currently 3 and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the globe in the traditional payroll design there's frequently a frustrating number of different systems causing time-consuming manual processes and silos the variety of Integrations could be non-existent in large amounts and or really really fundamental there's no real consistency structure we're living in a period of tech but payroll has actually been slow to get on board in fact as much as 25 of payroll is still done by hand frequently with pen and paper and that just blows my mind each time I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of businesses state they have Workforce information in real time that's another number that gives me sleepless nights and rather frankly the more a service spends on global payroll the less of a photo they see a lack of presence also encompasses payroll payments and failure to properly track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide services have actually expressed that they don't have the level of standardization they require in their processes or want and as a result eighty percent of errors are due to time reporting bad HCM information information entry errors badly communicated hires and terminations as well as absence management and system setups and after that when you round all of it off and the data is delivered to the wrong place the average cost of a worldwide data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money around the globe payroll and payments do not run efficiently if they rely on the needed numerous processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the obstacles organization face when they're making payments to employees or otherwise that's a good concern I always throw this back and say what is it what does not require to be consisted of ideal 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 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 need to pay from the client's own in-country account so there's complexity anywhere you look best eventually constructing a knowledge base is definitely vital but all over you look with payroll payment they are like super payments no if however some babies about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is permitting us to type of move on with that it likewise also to contribute to that payroll and finance require to work closer together um with varying Savings account Details differing banking requirements and setup procedures is absolutely imperative that payroll and financing groups work more detailed together than ever um I'm always astonished when people say I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate in the payroll profession would they split the payroll payment from computation 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 information 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 reside in and wellness being more and more important to contribute to type of the level of complexity there's more and more advantages being organ or being provided by companies across the world so again you're just seeking to add more and more payments to this already intricate landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of genuine challenges or real tough kind of pay uses to play to pay individuals I believe yeah I mean over the last well yeah a number of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's in fact handling the payment side of things however you know in in my opinion and my experience that doesn't necessarily require to be the case you know long gone are the times where we need to develop additional handoffs at the same times that we operate in they just make them more prompt they make them less effective and they do not make them what they require to be in in a period of tech and a period that you know that we are operating in today there is no reason why we are still making this as hard as it needs to be concurred and rightly as you said payroll is the single greatest liability that any service has from a cost viewpoint from an effect viewpoint on staff members it is definitely vital 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 need to be done right it has the biggest detrimental result on individuals's wellness and numerous other aspects if people aren't paid uh I've always been astonished entering this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may 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 employees or not. Payroll is a crucial cycle, and individuals only discover when things go wrong. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. Therefore, it is vital to make sure that tasks like Wi-Fi Global and other important matters are done correctly. Utilizing the first Worldwide Payments very first payroll payment option is an excellent initial action towards providing a thorough payroll option for workers worldwide. Standardization, international processes, and decreasing the variety of tools, platforms, and bank accounts essential for worldwide payroll are key factors in accomplishing organization success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of problems when things don't go as planned. Ultimately, we don't do it for the appreciation.
anyhow we know 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 everyone that's involved in those procedures and likewise so envision sorry I'm simply I was simply gon na state picture the amount of thanks you got if you could cover the amount of individuals that we cover within this webinar I make certain we're speaking about hundreds of thousands possibly Millions think of getting that many thank you notes um I imply it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting task attempting to clean all those up for sure oh definitely I can't think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to look through them and actually see what was going on and kind of shot to return to everyone so moving on look why do companies choose to main different bank accounts there are organizations out there doing exactly this for specific nations and I've operated in an organization or numerous companies doing precisely that I can say it doesn't always feel efficient and it does produce more work I know we're not deliberately doing that we're not producing extra work for any person where we do not have to and anybody that's handling that procedure 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 many reasons one is it's the standard I believe people have actually got so utilized to we require a brand-new bank 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 believe it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a range I believe this is a process that needs taking a look at it requires changing however eventually people are really stuck to what they're familiar
with ideal um modification is a challenging thing we all don't like modification um so I think it's just sort 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 clearly the benefits of having maintaining numerous checking account but there's a huge quantity of intricacy goes with setting up a checking account keeping it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for individual individuals so the complexity is substantial but I think the sincere response is change um individuals haven't had the ability to alter or haven't had always the understanding to really make that change into alternate Solutions other than opening a checking account I believe you've hit the nail on the head I believe it is understanding you understand and there is a component of resistance to change but we've always done it that way is no real reason for not looking at the the advantages and the possibilities of moving on and moving into you understand what could practically be determined to be the next Century approximately there is a lot to track and this method does present numerous obstacles um so Johnny could you tell us about those challenges yeah obviously so there's a range right there is so
I just did you switched our Business to OS so now we can do our payroll and payments operation on a single platform yes it resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you are worthy of a corner office with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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