Find out more about Papaya Global Nicaragua ... 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 acquired a separate Chief Financial Officer specifically dedicated to managing payments. This provides us with a secure and trusted approach of making payments to our 10,000 staff members worldwide.}
the very best international payroll managment app, conserves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and professionals
Employee Portal
Employees have access to a Staff member Portal where they can see their pay slips, wage and tax declarations and employment documents. The portal is readily available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits bundles to international staff members despite the number of workers in the company. The company can establish medical insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits suppliers in every country, develop regional 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 staff members need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force spending, workforce variety, overall work costs distributed per area, total work costs per cycle and much more.
environments across the globe I provided management and strategy to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll strategies for as Mark said I work throughout the business handling and building external relationships supporting Enterprise customers and options along with serving as an advisor for those of you that don't know who papaya International is papaya is the very first payroll and payments
As an international business, we are honored to be included on the prestigious Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's an enjoyment to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have concentrated on payroll and payment options for the past seven years. The complexities and challenges of this field have actually constantly captivated me.
payroll payments and decided to kind of make a real go at that over the last 5 or 6 years where I've sort of had a variety of different functions on the service provider side and also on the supplier side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just give everyone another number of uh well among the 30 seconds or so to join all of us work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everybody originates from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunlight is it it's not no it's it's raining here it's extremely really uninspiring and I want I was somewhere else at this moment in time okay so let's get going our agenda for today is as follows um we are going to be looking at the challenge years of managing International payroll why business preserve separate
Virtual payroll accounts are an option to standard bank accounts for managing payroll payments. This is especially helpful for global companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping different savings account for payroll in different countries, virtual accounts and digital wallets use a more streamlined solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are ending up being a strategic property for payroll executives. We will also offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
Ensuring precise, efficient, and timely payroll payments is a complex challenge for organizations operating globally. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll savings account, discover how business forecast payroll expenses to optimize working capital, and discover how streamlining international payroll payments can change them from a troublesome task into a tactical asset.
Managing payroll worldwide is a complicated task due to different guidelines, compliance requirements, data security issues, and banking rules. The large variety of workers and companies contributes to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 countless whom are in Africa, and 230 million businesses worldwide.
Conventional payroll systems typically result in manual processes, data silos, and a lack of combination, causing disparities and inefficiencies. Despite residing in a period of technological advancements, payroll management has actually been sluggish to adapt, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar aims to offer insights and services to streamline and optimize international payroll payments.
about it to provide you a concept 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 sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of an image they see a lack of presence likewise reaches payroll payments and failure to accurately track these payments can cause compliance mishaps in the last mile of the transaction nearly half of worldwide services have expressed that they do not have the level of standardization they need in their procedures or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors inadequately communicated hires and terminations along with absence management and system configurations and then when you round all of it off and the data is shipped to the incorrect location the typical cost of a global 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 count on the needed several procedures 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 obstacles business face when they're paying to employees or otherwise that's an excellent concern I always throw this back and state what is it what doesn't need to be consisted of ideal and what does
it require to be thought of there's differing Bank information so the length of an eye band a swift an account number routing code per nation 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 client's own in-country account so there's intricacy any place you look right eventually developing a knowledge base is absolutely critical but all over you look with payroll payment they resemble super payments no if however some babies about it you are all superheroes processing payments for payroll if you take a look at the type of link in 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 innovation is permitting us to kind of move on with that it likewise as well to add to that payroll and financing need to work closer together um with varying Checking account Particulars differing banking requirements and setup procedures is absolutely vital that payroll and financing teams work closer together than ever um I'm constantly astonished 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 split 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 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
world we live in and well-being being more and more essential to add to type of the level of intricacy there's increasingly more advantages being organ or being offered by services throughout the world so once again you're just looking to add a growing number of payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine difficult sort of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of decades I would certainly state that the bigger an organization 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 details into the next function as it were that's actually handling the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you understand 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 efficient and they do not make them what they need to be in in an age of tech and an age that you know that we are operating in today there is no reason we are still making this as tough as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any business has from an expense perspective from an impact point of view on employees it is definitely critical that it's done properly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive impact on people's wellness and many other elements if people aren't paid uh I have actually always been astonished entering this Market sort of the last five to ten years is how little thanks the
payroll team get um so I'm unsure anyone on this kind 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 workers or not um but ultimately payroll is such an essential cycle all of us become aware of 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 view as well um so yeah it's also like why WI-Fi Global why all of this things is definitely essential that all of this stuff is done correctly so leveraging the very first International Payments first payroll payment solution is an excellent initial step um offering an end-to-end payroll solution for your workers internationally once again I think is another huge um process once again lining up and ensuring you have standardization International procedures all of those things are absolutely essential to success success of services and decreasing the number of tools platforms and checking account they need for their Global payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred countless them within a payroll cycle don't expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone quite where they're meant to be um I don't believe any of us are in fact doing that for for the thanks
anyway we know how how crucial a function 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 everyone that's associated with those processes and likewise so envision sorry I'm simply I was simply gon na say think of the quantity of thanks you got if you might cover the amount of individuals that we cover within this webinar I make sure we're talking about numerous thousands possibly Millions imagine getting that numerous thank you keeps in mind um I mean it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting 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 need days of the week to try to browse them and really see what was going on and sort of shot to return to everyone so carrying on appearance why do companies select to primary different savings account there are organizations out there doing exactly this for particular countries and I've operated in an organization or lots of services 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 do not have to and anybody 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 quantity that we are I believe lots of reasons one is it's the requirement I believe individuals have got so utilized to we need a new savings account we open an entity and appropriately so you need it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the requirement and the norm the people have actually embraced and continue to do over years and years gone past to contribute to that people have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I think this is a process that requires taking a look at it needs altering however eventually people are really stuck with what they recognize
with best um modification is a hard thing all of us don't like change um so I think it's simply type 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 understand clearly the advantages of having maintaining several bank accounts but there's a huge amount of intricacy goes with setting up a savings account maintaining it ensuring it can send International transfers ensuring it's set up with the best user accesses for specific people so the intricacy is huge but I think the truthful response is modification um people have not had the ability to alter or have not had always the understanding to really make that change into alternate Solutions other than opening a checking account I think you have actually struck the nail on the head I think 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 excuse for not taking a look at the the advantages and the possibilities of carrying on and moving into you understand what could nearly be figured out to be the next Century or two there is a lot to track and this technique does pose numerous obstacles um so Johnny could you inform us about those challenges yeah naturally so there's a variety right there is so
I recently made a change to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It seems like our CFO has gained another CFO, and with this improved ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is closer, considering your achievements.
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