Find out more about Papaya Global Romania ... We now have the ability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually gotten a different Chief Financial Officer particularly dedicated to managing payments. This offers us with a protected and dependable approach of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax statements and employment files. The portal is readily available in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global assists business offer competitive advantages bundles to global workers despite the number of workers in the business. The business can establish medical insurance, short-term and long-term disability, vision, dental and maternity leave while getting rid of the need to source local benefits providers in every country, create local accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees need work license support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall work costs dispersed per place, total employment expenses per cycle and much more.
environments across the globe I offered leadership and technique to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and structure external relationships supporting Business customers and options as well as acting as an advisor for those of you that do not know who papaya International is papaya is the very first payroll and payments
company to make the time 100 list for most influential business on the planet we offer payroll payments and labor force management to all employee key ins over 160 countries I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself naturally thank you good morning good afternoon good evening depending on where you are in the world it's charming to fulfill you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I've been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was interested by the intricacy the problem in all of the above of
payroll payments and chose to type of make a genuine go at that over the last five or 6 years where I've sort of had a range of various roles on the company side and also on the supplier side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or so to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everyone 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 drizzling here it's very very gloomy and I wish I was elsewhere at this moment in time okay so let's get going our agenda for today is as follows um we are going to be taking a look at the difficulty years of managing International payroll why business maintain different
Virtual payroll accounts are an alternative to traditional savings account for managing payroll payments. This is especially useful for international organizations with dispersed and remote labor forces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate bank accounts for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will also provide a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments accurately effectively securely and on time throughout this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how companies properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it ends up being complicated for a range of reasons most importantly regulations compliance data security and banking rules then there are the sheer numbers they add additional intricacy the international Labor force is presently 3 and a half billion people by 2030 it's approximated that in Africa alone they will contribute and further 1.1 billion individuals that number is currently 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 conventional payroll design there's typically a frustrating number of different systems causing lengthy manual processes and silos the variety of Integrations could be non-existent in big quantities and or really very fundamental there's no genuine consistency structure we're residing 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 typically with pen and paper which just blows my mind whenever I I think
about it to give you an idea of how far there still is to come according to Deloitte just 11 of services say they have Workforce data in real time that's another number that provides me sleep deprived nights and quite honestly the more an organization spends on international payroll the less of a picture they see an absence of exposure likewise encompasses payroll payments and failure to precisely track these payments can cause compliance mishaps in the last mile of the transaction nearly half of international companies have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry errors poorly interacted hires and terminations as well as lack management and system configurations and then when you round it all off and the data is shipped to the incorrect place the average cost of a worldwide information 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 essential 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 organization face when they're paying to workers or otherwise that's a great question I always throw this back and state what is it what does not need to be included right and what does
it require to be thought about 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 abilities 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 consumer's own in-country account so there's intricacy wherever you look right eventually building a knowledge base is absolutely important but all over you look with payroll payment they are like extremely payments no if however some infants 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 recognition that payroll payments are definitely basic and innovation is allowing us to kind of move on with that it also as well to add to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely imperative that payroll and financing teams work closer together than ever um I'm always amazed when people say I have actually split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't operate in the payroll profession would they split the payroll payment from estimation 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 data collection all the way through to paying people anywhere they are but also paying statutory authorities and on statutory third parties so with the
The modern world puts a high value on wellness and the payment landscape is becoming significantly elaborate. Services are continuously introducing new advantages and payment options, which contributes to the total intricacy. Big corporations often divide their payroll and payment processing into different teams, which can result in ineffectiveness and bottlenecks. In my opinion, this does not need to be the case. In today's highly innovative age, there's no justification for keeping troublesome treatments. Payroll, the business's biggest expense, need to be processed correctly and on time. Even slight hold-ups can negatively affect employees' wellness and have significant repercussions. For that reason, it's vital to focus on precise and timely payments.
payroll team get um so I'm not sure anyone on this kind of webinar has been informed 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 goes wrong everyone jumps up and down when it fails but when it goes right it's just a tick box exercise and I believe 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 correctly so leveraging the first International Payments first payroll payment service is a fantastic first step um offering an end-to-end payroll option for your employees globally again I think is another substantial um process again aligning and ensuring you have standardization Global processes all of those things are absolutely key to success success of services and reducing the number of tools platforms and checking account they require 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 ever had a hundred countless them within a payroll cycle do not anticipate to you do get the odd 5 or ten or whatever it might be with the with the the grievances where things have not gone quite where they're meant to be um I do not think any of us are really doing that for for the thanks
anyway we know how how essential a function 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 everybody that's involved in those procedures and also so picture sorry I'm simply I was just gon na say imagine the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions think of 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 absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to attempt to browse them and in fact see what was going on and kind of try to return to everybody so proceeding look why do companies pick to main separate checking account there are organizations out there doing precisely this for particular nations and I have actually operated in a company or lots of organizations doing precisely that I can say it doesn't always feel efficient and it does develop more work I understand we're not deliberately doing that we're not producing additional work for any person where we do not need to and anyone that's managing that process I 'd be interested to hear your ideas Johnny why do you think that we're doing that in in the in the quantity that we are I think lots of reasons one is it's the requirement I think people have actually got so utilized to we need a new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and numerous other ways um to to type of do it so I believe there's a range I think this is a process that needs taking a look at it requires altering but ultimately people are very stuck with what they recognize
with ideal um change is a hard thing we all don't like modification um so I think it's just type of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having keeping several checking account however there's a huge quantity of complexity opts for setting up a bank account preserving it ensuring it can send out International transfers ensuring it's set up with the ideal user accesses for specific people so the intricacy is huge but I believe the sincere answer is modification um people have not been able to change or haven't had necessarily the knowledge to really make that change into alternate Solutions besides opening a savings account I think you've hit the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we've 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 could nearly be identified to be the next Century or two there is a lot to keep track of and this approach does pose a number of difficulties um so Johnny might you inform us about those difficulties yeah naturally so there's a range right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It feels like our CFO has gained another CFO, and with this improved capability, I have actually successfully protected payments for our 10,000 employees worldwide. Your commitment to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner workplace with a parking space that is more detailed, considering your accomplishments.
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