Find out more about Papaya Global Landing Page ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has actually obtained a separate Chief Financial Officer particularly committed to managing payments. This provides us with a safe and secure and trusted approach of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, conserves me hours of time each month, one single control panel for my payroll, EOR and specialists
Staff member Portal
Employees have access to an Employee Website where they can see their pay slips, wage and tax declarations and work files. The website is readily available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global helps business provide competitive benefits packages to international employees no matter the number of employees in the company. The business can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, develop local accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, labor force diversity, overall employment costs dispersed per place, overall employment costs per cycle and a lot more.
environments around the world I provided leadership 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 stated I work across the business handling and structure external relationships supporting Enterprise customers and options in addition to functioning 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 company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We focus on providing payroll and labor force management services to employees in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, despite your location. It's an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments market, I have focused on payroll and payment services for the past seven years. The complexities and challenges of this field have actually always captivated me.
payroll payments and decided to sort of make a real go at that over the last five or 6 years where I have actually type of had a range of various functions on the provider side and likewise on the vendor side from a payroll perspective so actually anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll simply give everyone another number of uh well one of the 30 seconds or so to join all of us work back to back nowadays so we'll type of let them do that so it 'd be rather interesting and I can see it going on already simply to hear where everyone is um it's nice to to type 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 sunshine is it it's not no it's it's drizzling here it's really extremely gloomy and I wish 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 difficulty years of handling Global payroll why companies maintain different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical property uh we'll also discuss a recap and that should leave his time at the very really end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces become a growing number of typical and handling them ends up being more and more complex International organizations are wanting to discover Solutions and brand-new methods to streamline processes particularly from a payroll and cross-border payment standpoint numerous companies preserve separate checking account just for payroll while some have numerous accounts in different nations does it make good sense for business to keep separate savings account in some cases in various nations it does but just for payroll exists a better way what function do virtual accounts and digital wallets likewise called virtual wallets play in helping international business improve the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the global advantages and disadvantages of a payroll wallet versus a payroll bank account how companies accurately forecast their payroll costs to increase working capital and how simplifying Global payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in enough in one nation but when you're doing it worldwide it's next level and Beyond it becomes complex for a range of factors most notably regulations compliance data security and banking rules then there are the large numbers they add further intricacy the worldwide Labor force is presently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million services and growing all doing their own thing around the globe in the standard payroll design there's frequently an overwhelming number of various systems resulting in time-consuming manual processes and silos the number of Combinations could be non-existent in big quantities and or really extremely fundamental there's no real consistency structure we're living in an era of tech but payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind every time I I think
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force data in real time that's another number that provides me sleepless nights and rather honestly the more a service invests in worldwide payroll the less of an image they see an absence of presence also encompasses payroll payments and inability to properly track these payments can cause compliance incidents in the last mile of the deal nearly half of worldwide companies have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry mistakes badly interacted hires and terminations along with absence management and system setups and then when you round it all off and the data is delivered to the incorrect location the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash worldwide payroll and payments do not run smoothly if they depend on the needed several processes systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're paying to employees or otherwise that's a good concern I constantly toss this back and say what is it what does not need to be included right and what does
it require to be thought about there's varying Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames there's payment abilities 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 intricacy any place you look right eventually building a knowledge base is definitely critical however all over you look with payroll payment they resemble extremely payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the sort of link 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 technology is permitting us to sort of move on with that it likewise also to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup procedures is absolutely essential that payroll and financing groups work more detailed together than ever um I'm always amazed when individuals state I have actually split 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 a market accept that why our payroll and payments so frequently split and cut up um ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being more and more essential to add to type of the level of complexity there's more and more advantages being organ or being used by businesses across the world so again you're simply aiming to add a growing number of payments to this already intricate landscape so if you sort of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine difficulties or real challenging kind of pay utilizes to play to pay people I think yeah I indicate over the last well yeah a number of decades I would absolutely say that the bigger a service gets the more it tends to segregate the payroll and the payments operates um there are groups doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things but you know in in my opinion and my experience that does not always need to be the case you understand long gone are the times where we need to develop extra handoffs at the same times that we operate in they just make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you know that we are working in today there is no reason why we are still making this as hard as it requires to be concurred and appropriately as you stated payroll is the single most significant liability that any service has from an expense viewpoint from an effect perspective on workers it is definitely important that it's done properly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant detrimental result on individuals's well-being and lots of other aspects if people aren't paid uh I have actually always been astonished entering into this Market kind of the last 5 to 10 years is how little thanks the
payroll group get um so I'm not exactly sure anybody on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be fantastic to hear your success story and whether that's been from all employees 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 but when it goes right it's just a tick box workout and I think that's how it's seen from the external consider as well um so yeah it's also like why WI-Fi Global why all of this stuff is definitely crucial that all of this things is done properly so leveraging the very first Global Payments very first payroll payment service is a fantastic initial step um offering an end-to-end payroll service for your employees globally again I think is another substantial um procedure once again lining up and ensuring you have standardization International processes all of those things are absolutely crucial to success success of businesses and lowering the variety of tools platforms and bank accounts they need for their Global 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 have actually never had a hundred countless 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 problems where things have not gone quite where they're implied to be um I don't believe any of us are actually doing that for for the thanks
anyhow 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 simple as possible for everybody that's associated with those procedures and also so imagine sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions picture 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 definitely be a fascinating task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and in fact see what was going on and sort of try to return to everybody so proceeding look why do business choose to main separate savings account there are companies out there doing precisely this for specific countries and I have actually worked in an organization or lots of services doing exactly that I can state it doesn't always feel effective and it does create more work I know we're not purposely doing that we're not creating additional work for any person where we do not have to and anyone that's handling that process I 'd be interested to hear your ideas Johnny why do you believe that we're doing that in in the in the amount that we are I think lots of factors one is it's the standard I think individuals have got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes 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 gone past to add to that people have actually taken a look at things like trust accounts and many other ways um to to sort of do it so I believe there's a range I think this is a procedure that requires looking at it requires changing however ultimately individuals are very stuck with what they're familiar
with right um modification is a challenging thing we all do not like modification um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I understand undoubtedly the benefits of having preserving several checking account but there's a big quantity of complexity opts for establishing a bank account preserving it guaranteeing it can send International transfers ensuring it's set up with the right user accesses for private individuals so the complexity is big however I believe the truthful response is change um individuals have not been able to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions besides opening a bank account I believe you've hit the nail on the head I think it is knowledge you know and there is an aspect of resistance to alter however we've always done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or two there is a lot to keep track of and this approach does posture a number of challenges um so Johnny might you tell us about those obstacles yeah obviously so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It feels like our CFO has actually gotten another CFO, and with this improved ability, I have actually effectively secured payments for our 10,000 employees worldwide. Your devotion to mastering global payroll and payments using Papaya payroll OS is commendable. You deserve a corner workplace with a parking space that is better, considering your accomplishments.
Papaya Global Bangalore Office Location