Find out more about Papaya Global Stock Price ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer particularly committed to managing payments. This offers us with a protected and trusted approach of paying to our 10,000 employees worldwide.}
the BEST global payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and professionals
The Worker Portal offers workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and employment records. This website is accessible on both desktop and mobile phones and is provided in numerous languages.
Benefits Administration
Papaya Global helps business use competitive advantages packages to worldwide staff members regardless of the number of workers in the company. The business can establish medical insurance, short-term and long-term impairment, vision, oral and maternity leave while getting rid of the requirement to source local advantages suppliers in every nation, develop local accounts and have a minimum variety of employees.
Worldwide HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, workforce diversity, total employment expenses dispersed per location, total employment costs per cycle and far more.
Worldwide, I have actually demonstrated leadership and tactical competence in assisting massive populations of over 100,000 workers throughout 170 nations. Presently, I am responsible for overseeing payroll techniques, as pointed out by Mark. My function involves handling and establishing external collaborations, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments services company.
business to make the time 100 list for most prominent business in the world we supply payroll payments and workforce management to all worker enters over 160 nations I am pleased to state that we also have as Mark stated Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon good night depending on where you remain in the world it's lovely to satisfy 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 have actually been in the payments industry for over 10 years and specifically working on the payroll and payment sector for over seven years um I was amazed by the intricacy the trouble in all of the above of
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've sort of had a range of various roles on the company side and also on the vendor side from a payroll perspective so truly anticipating this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just give everybody another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be rather interesting and I can see it going on currently simply 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 remains in the UK today certainly not the peak of the sunshine is it it's not no it's it's drizzling here it's extremely extremely dreary and I wish I was elsewhere at this moment in time all right so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing International payroll why companies keep separate
savings account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts enhancing papaya International payroll payments as a strategic property uh we'll also review a recap which needs to leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces end up being increasingly more typical and handling them ends up being increasingly more complex Global companies are wanting to find Solutions and brand-new methods to simplify processes particularly from a payroll and cross-border payment perspective many companies preserve different bank account just for payroll while some have several accounts in various countries does it make sense for business to preserve separate savings account in some cases in various nations it does however just for payroll is there a better method what role do virtual accounts and digital wallets likewise referred to as virtual wallets play in helping multinational companies improve the episode complex procedures of
Guaranteeing precise, effective, and timely payroll payments is a complex difficulty for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll bank accounts, find out how companies anticipate payroll costs to optimize working capital, and find how simplifying international payroll payments can change them from a troublesome job into a strategic property.
Managing payroll worldwide is a difficult job due to various policies, compliance requirements, data security issues, and banking guidelines. The large number of workers and companies contributes to the intricacy, with an estimated 3.5 billion people in the international workforce, 500 countless whom remain in Africa, and 230 million services worldwide.
Traditional payroll systems often lead to manual processes, information silos, and a lack of integration, causing inconsistencies and inadequacies. In spite of living in an era of technological improvements, payroll management has been slow to adapt, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to provide insights and solutions to simplify and enhance worldwide payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of businesses say they have Workforce information in real time that's another number that gives me sleep deprived nights and rather frankly the more a service invests in global payroll the less of an image they see an absence of exposure also extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of global services have actually expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the incorrect location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the money worldwide payroll and payments do not run smoothly if they count on the essential multiple 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 difficulties company face when they're making payments to staff members or otherwise that's a good concern I always toss this back and state what is it what does not need to be included ideal and what does
it need to be considered there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment amount of time there's payment abilities 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 consumer's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely crucial but everywhere 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 kind of link in between fintech and payroll it's closer than ever I think there's now a bit more acknowledgment that payroll payments are definitely essential and technology is allowing us to kind of progress with that it likewise as well to contribute to that payroll and financing require to work closer together um with differing Bank Account Details varying banking requirements and setup processes is absolutely crucial that payroll and financing teams work more detailed together than ever um I'm always impressed when people say I have actually divided payroll and payment um if you stroll down the street and asked anyone what is payroll who does not 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 frequently split and cut up um eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being a growing number of important to contribute to kind of the level of complexity there's a growing number of advantages being organ or being used by companies across the world so once again you're simply seeking to include a growing number of payments to this currently complicated landscape so if you type of got any experience well I'm from your vast experience here and I make certain but have you got any experience in kind of real obstacles or genuine challenging kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of decades I would definitely say that the larger a service gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding details into the next function as it were that's actually managing the payment side of things however you know in in my viewpoint and my experience that does not necessarily require to be the case you know long gone are the times where we require to produce additional handoffs in the processes that we run in they simply make them more prompt they make them less efficient and they don't make them what they need to be in in an era of tech and an era that you know that we are operating in today there is no reason we are still making this as difficult as it needs to be concurred and appropriately as you said payroll is the single biggest liability that any business has from a cost point of view from an impact viewpoint on workers it is absolutely important that it's done properly and on time so what we imply 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 detrimental result on people's well-being and lots of other factors if people aren't paid uh I've constantly been surprised entering into this Market sort 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 anybody has been thanked, it would be fantastic to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals just discover when things fail. Nevertheless, when things go right, it's viewed as simply a regular task. This is how it's perceived externally also. For that reason, it is essential to make sure that jobs like Wi-Fi Global and other important matters are done correctly. Using the very first Worldwide Payments first payroll payment option is an excellent preliminary step towards offering a comprehensive payroll service for workers worldwide. Standardization, worldwide procedures, and reducing the variety of tools, platforms, and checking account essential for worldwide payroll are essential consider achieving service success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things don't go as planned. Eventually, we do not do it for the appreciation.
anyhow 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 everyone that's associated with those procedures and also so think of sorry I'm just I was simply gon na state envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're speaking about hundreds of thousands possibly Millions picture 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 trying to clean all those up for sure oh definitely I can't picture 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 in fact see what was going on and sort of shot to get back to everybody so moving on look why do companies select to primary different bank accounts there are companies out there doing precisely this for particular countries and I've worked in a company or many companies doing precisely that I can say it does not always feel efficient and it does create more work I understand we're not purposely doing that we're not creating additional work for anybody where we don't need to and anyone that's dealing with 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 lots of reasons one is it's the requirement I believe people have got so utilized to we need a brand-new bank account we open an entity and appropriately so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have actually embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and numerous other ways um to to type of do it so I think there's a variety I think this is a process that requires looking at it requires altering however ultimately individuals are extremely stuck to what they recognize
with ideal um change is a hard thing we all do not like change um so I think it's simply type of moving far from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend obviously the benefits of having maintaining multiple checking account however there's a substantial quantity of complexity opts for establishing a savings account maintaining it guaranteeing it can send out International transfers ensuring it's established with the ideal user accesses for individual individuals so the complexity is substantial but I think the honest response is modification um individuals haven't been able to change or haven't had necessarily the understanding to actually make that change into alternate Solutions besides opening a bank account I think you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to change but we've always done it that way is no genuine reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could practically be figured out to be the next Century approximately there is a lot to keep track of and this method does present several difficulties um so Johnny could you tell us about those difficulties yeah of course so there's a range right there is so
I simply did you switched 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 Global staff members you should have a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
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