Find out more about Papaya Global For Beginners ... We now have the capability to handle both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has actually gotten a separate Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and reputable technique of making payments to our 10,000 employees worldwide.}
the BEST worldwide payroll managment app, saves me hours of time monthly, one single control panel for my payroll, EOR and specialists
Employee Portal
Staff members have access to a Staff member Portal where they can see their pay slips, wage and tax statements and work files. The website is offered in several languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists business provide competitive benefits packages to worldwide employees despite the number of employees in the company. The business can set up medical insurance, short-term and long-lasting special needs, vision, oral and maternity leave while removing the requirement to source regional advantages companies in every nation, develop local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your staff members need work authorization assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce diversity, overall employment costs distributed per place, overall employment costs per cycle and much more.
environments around the world I supplied management and method to populations of over a hundred thousand workers in more than 170 countries today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Enterprise clients and options along with serving as a consultant for those of you that do not understand who papaya International is papaya is the first payroll and payments
As a worldwide company, we are honored to be included on the prominent Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's a pleasure to fulfill you and thank you for your important time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past seven years. The complexities and challenges of this field have constantly captivated me.
payroll payments and chose to type of make a real go at that over the last five or 6 years where I've sort of had a variety of various functions on the company side and also on the supplier side from a payroll point of view so actually anticipating this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather intriguing and I can see it going on already just to hear where everybody is um it's nice to to kind of like see where everybody originates from and I really 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 extremely really bleak and I want I was somewhere else at this moment in time okay so let's begin 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 different
Virtual payroll accounts are an option to traditional bank accounts for managing payroll payments. This is especially beneficial for worldwide companies with dispersed and remote workforces, as it streamlines the intricate procedure of cross-border payments. Instead of maintaining separate checking account for payroll in different countries, virtual accounts and digital wallets provide a more structured solution. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are becoming a strategic possession for payroll executives. We will likewise supply a recap of the bottom lines 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 stroll you through the global benefits and drawbacks of a payroll wallet versus a payroll savings account how companies precisely anticipate their payroll costs to increase working capital and how streamlining International payroll payments can turn them from a siled pane into a strategic property so payroll can be challenging in adequate in one country however when you're doing it internationally it's next level and Beyond it becomes intricate for a range of reasons most notably regulations compliance data security and banking guidelines then there are the sheer numbers they include further intricacy the international Labor force is currently 3 and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million organizations and growing all doing their own thing all over the world in the conventional payroll design there's frequently an overwhelming variety of various systems leading to time-consuming manual procedures and silos the variety of Integrations could be non-existent in big amounts and or really extremely fundamental there's no genuine consistency framework we're residing in an age 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 typically with pen and paper which simply blows my mind every time I I think
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 data in real time that's another number that provides me sleep deprived nights and quite honestly the more a service invests in worldwide payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to accurately track these payments can lead to compliance incidents in the last mile of the deal almost half of international companies have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM information data entry mistakes badly communicated hires and terminations as well as lack management and system configurations and then when you round everything off and the data is shipped to the wrong location the typical cost of a worldwide information breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money all over the world payroll and payments don't run efficiently if they rely on the essential several processes systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent concern I constantly throw this back and state what is it what does not require to be consisted of best and what does
it need to be thought about there's varying Bank information 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 capabilities 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 wherever you look right eventually building a knowledge base is absolutely vital however all over you look with payroll payment they are like 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 in between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are definitely essential and technology is allowing us to sort of move on with that it also as well to add to that payroll and financing require to work closer together um with differing Savings account Details varying banking requirements and setup processes is definitely imperative that payroll and financing teams work better together than ever um I'm always surprised when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll profession 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 people wherever they are but likewise paying statutory authorities and on statutory 3rd parties so with the
world we reside in and well-being being more and more crucial to add to kind of the level of complexity there's more and more benefits being organ or being offered by businesses throughout the world so again you're just looking to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or genuine challenging kind of pay utilizes to play to pay individuals I believe yeah I indicate over the last well yeah a number of years I would absolutely say that the larger a service gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the job there are teams feeding info into the next function as it were that's really handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we require to create additional handoffs while doing sos that we operate in they just make them more prompt they make them less efficient and they do not make them what they require to be in in an age of tech and a period that you know that we are working in today there is no reason why we are still making this as difficult as it needs to be agreed and rightly as you stated payroll is the single greatest liability that any service has from an expense viewpoint from an impact point of view on staff members it is definitely vital that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging impact on people's wellness and lots of other elements if people aren't paid uh I've constantly been astonished coming into this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not exactly sure anyone on this type of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be terrific to hear your success story and whether that's been from all workers or not um however ultimately payroll is such an essential cycle all of us find out about it when it goes wrong everybody jumps up and down when it goes wrong 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 important that all of this stuff is done correctly so leveraging the first Global Payments very first payroll payment service is an excellent initial step um supplying an end-to-end payroll solution for your staff members globally once again I think is another big um procedure again aligning and ensuring you have standardization International processes all of those things are absolutely crucial to success success of services and decreasing the variety of tools platforms and checking account they require for their Worldwide payroll too could not 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 thousand of 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 complaints where things have not gone quite where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how important 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 associated with those procedures and also so imagine sorry I'm just I was simply gon na say envision the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're speaking about numerous thousands possibly Millions envision getting that many thank you keeps in mind um I mean it 'd be interesting to see the number of Post-it notes you got however it would definitely be an interesting task trying to clean up all those up for sure oh absolutely I can't imagine the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to check out them and in fact see what was going on and type of try to get back to everyone so carrying on look why do companies select to primary different checking account there are businesses out there doing precisely this for specific nations and I've worked in an organization or many companies doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not purposely doing that we're not developing additional work for any person where we don't have to and anybody that's handling that procedure 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 think numerous reasons one is it's the requirement I think individuals have actually got so used to we require a new bank account we open an entity and rightly so you need it for payroll purposes however there are a number of markets where it's not a requirement so I think it's simply been the standard and the standard the people have actually embraced and continue to do over years and years gone past to contribute to that individuals have actually taken a look at things like trust accounts and lots of other methods um to to type of do it so I think there's a variety I think this is a process that needs looking at it requires changing but ultimately individuals are really stuck to what they recognize
with ideal um change is a challenging thing all of us do not like change um so I think it's simply type of moving far from the standard as we've said so yeah so it keeps a lot of track of stuff um I comprehend certainly the benefits of having keeping several bank accounts but there's a huge amount of intricacy opts for establishing a savings account preserving it guaranteeing it can send International transfers guaranteeing it's set up with the right user accesses for individual people so the intricacy is big however I think the sincere response is change um individuals have not been able to change or haven't had always the knowledge to really make that change into alternate Solutions aside from opening a savings account I think you've hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter but we have actually constantly 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 identified to be the next Century or two there is a lot to track and this approach does pose numerous challenges um so Johnny might you tell us about those difficulties yeah naturally so there's a range right there is so
I just recently made a change to our Enterprise system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually gained another CFO, and with this enhanced ability, I have effectively secured payments for our 10,000 staff members worldwide. Your dedication to mastering international payroll and payments using Papaya payroll OS is good. You deserve a corner office with a parking space that is better, considering your accomplishments.
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