Find out more about Papaya Global Current Version ... We now have the ability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer particularly dedicated to handling payments. This offers us with a safe and trustworthy method of paying to our 10,000 workers worldwide.}
the very best global payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and professionals
Staff member Portal
Workers have access to a Worker Portal where they can view their pay slips, wage and tax statements and work files. The portal is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to worldwide workers despite the variety of staff members in the business. The company can establish health insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the requirement to source regional benefits providers in every country, produce regional accounts and have a minimum variety of staff members.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force costs, workforce diversity, overall employment expenses distributed per location, overall employment expenses per cycle and a lot more.
environments around the world I supplied leadership and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark stated I work throughout the business managing and building external relationships supporting Enterprise customers and options as well as acting as an advisor for those of you that do not understand who papaya International is papaya is the first payroll and payments
company to make the time 100 list for most influential companies in the world we provide payroll payments and labor force management to all employee key ins over 160 nations I am pleased to say that we likewise have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself obviously thank you good morning good afternoon good night depending upon where you are in the world it's lovely to meet 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 remained in the payments industry for over 10 years and particularly working on the payroll and payment sector for over seven years um I was interested by the complexity the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last 5 or six years where I've kind of had a variety of various roles on the supplier side and also on the vendor side from a payroll perspective so actually eagerly anticipating this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just offer everybody another number of uh well among the 30 seconds or so to join we all work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already just to hear where everyone 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 sunlight is it it's not no it's it's raining here it's very very dreary and I want I was somewhere else at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the difficulty years of handling Global payroll why business maintain separate
Virtual payroll accounts are an alternative to conventional savings account for handling payroll payments. This is particularly helpful for international companies with dispersed and remote workforces, as it streamlines the complicated procedure of cross-border payments. Instead of preserving different savings account for payroll in different countries, virtual accounts and digital wallets use a more structured service. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical property for payroll executives. We will also supply a wrap-up of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively safely and on time during this webinar we'll walk you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll checking account how companies precisely forecast their payroll expenses to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be hard in enough in one country but when you're doing it worldwide it's next level and Beyond it ends up being intricate for a variety of reasons most importantly policies compliance data security and banking guidelines then there are the sheer numbers they add more complexity the global Workforce is presently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the traditional payroll design there's frequently a frustrating number of various systems leading to lengthy manual procedures and silos the number of Integrations could be non-existent in big quantities and or very extremely standard there's no genuine consistency framework we're living in an era of tech however 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 every time I I think
about it to offer you a concept of how far there still is to come according to Deloitte just 11 of services say they have Workforce information in real time that's another number that provides me sleepless nights and quite honestly the more an organization invests in global payroll the less of an image they see an absence of exposure also reaches payroll payments and inability to accurately track these payments can lead to compliance accidents in the last mile of the transaction nearly half of worldwide services have expressed that they do not 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 poor HCM data data entry errors poorly communicated hires and terminations along with lack management and system configurations and after that when you round everything off and the data is delivered to the wrong place the average expense of a global information breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they count on the needed multiple procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the obstacles organization face when they're paying to employees or otherwise that's a good question I constantly throw this back and say what is it what does not require to be included ideal and what does
it require to be thought of there's differing Bank details 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 need to pay from the client's own in-country account so there's complexity wherever you look right ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they are like very 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 in between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are absolutely fundamental and technology is enabling us to sort of progress with that it also as well to add to that payroll and financing need to work closer together um with varying Bank Account Details differing banking requirements and setup procedures is definitely essential that payroll and financing groups work better together than ever um I'm constantly impressed when individuals state I've divided 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 divide the payroll payment from computation 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people anywhere they are but likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world positions a high value on well-being and the settlement landscape is ending up being increasingly elaborate. Organizations are continually presenting new advantages and payment choices, which contributes to the overall complexity. Big corporations typically divide their payroll and payment processing into different teams, which can cause inefficiencies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's highly innovative age, there's no reason for maintaining troublesome treatments. Payroll, the company's biggest cost, must be processed properly and on time. Even minor hold-ups can adversely impact employees' wellness and have significant effects. For that reason, it's important to prioritize precise and prompt payments.
payroll group get um so I'm uncertain anybody on this kind of webinar has been told 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 ultimately payroll is such a crucial cycle we all hear about it when it goes wrong everyone jumps up and down when it goes wrong however when it goes right it's just a tick box exercise and I think that's how it's seen from the external consider as well um so yeah it's likewise like why WI-Fi Global why all of this stuff is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments very first payroll payment option is a great primary step um providing an end-to-end payroll option for your staff members internationally again I think is another huge um procedure again lining up and guaranteeing you have standardization Global processes all of those things are absolutely crucial to success success of businesses and minimizing the number of tools platforms and checking account they need for their Global payroll too could not agree with you more and on the the front in terms of 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 five or ten or whatever it might be with the with the the grievances where things haven't gone quite where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyway we know how how crucial 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 everyone that's involved in those processes and likewise so think of sorry I'm simply I was simply gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make sure we're talking about hundreds of thousands potentially Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would certainly be a fascinating task attempting to clean up all those up for sure oh absolutely I can't imagine 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 really see what was going on and sort of try to return to everyone so carrying on appearance why do companies choose to main different savings account there are businesses out there doing exactly this for particular nations and I've operated in a service or many organizations doing precisely that I can state it doesn't always feel efficient and it does develop more work I know we're not deliberately doing that we're not producing additional work for anyone where we do not need to and anybody that's handling that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the amount that we are I believe many factors one is it's the standard I believe individuals have actually got so used to we require a brand-new savings account we open an entity and rightly so you require it for payroll functions 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 adopted and continue to do over years and years passed by to contribute to that people have taken a look at things like trust accounts and many other ways um to to type of do it so I believe there's a variety I believe this is a procedure that requires taking a look at it requires changing but eventually people are extremely stuck to what they're familiar
with right um change is a tough thing all of us don't like change um so I think it's simply kind of moving away from the norm as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the advantages of having keeping multiple bank accounts but there's a huge quantity of complexity chooses setting up a savings account preserving it guaranteeing it can send International transfers guaranteeing it's established with the best user accesses for private people so the intricacy is big however I believe the honest answer is modification um people haven't had the ability to alter or have not 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 believe it is understanding you understand and there is an aspect of resistance to alter however we've constantly done it that way is no genuine excuse for not looking at the the advantages and the possibilities of carrying on and moving into you understand what might practically be identified to be the next Century or so there is a lot to track and this approach does position several difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just recently made a change to our Business 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 boosted capability, I have successfully secured payments for our 10,000 staff members worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is better, considering your achievements.
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