Find out more about Papaya Global Historical Reports Include Leavers ... 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 acquired a separate Chief Financial Officer specifically committed to handling payments. This supplies us with a safe and trustworthy method of making payments to our 10,000 staff members worldwide.}
The advanced international payroll management app streamlines my payroll procedure, conserving me a considerable amount of time every month. With its user-friendly interface, I have access to a single control panel that effectively manages my payroll, EOR, and professionals.
Employee Portal
Employees have access to a Staff member Website where they can see their pay slips, wage and tax statements and employment documents. The portal is available in several languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies use competitive benefits packages to global staff members regardless of the variety of staff members in the company. The company can establish health insurance, short-term and long-lasting impairment, vision, dental and maternity leave while eliminating the need to source local benefits companies in every nation, create local accounts and have a minimum variety of staff members.
International HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, labor force diversity, overall employment expenses distributed per place, overall employment expenses per cycle and much more.
environments across the globe I offered leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll methods for as Mark said I work across business managing and structure external relationships supporting Enterprise customers and options along with acting as an advisor for those of you that do not know who papaya International is papaya is the first payroll and payments
As a global business, we are honored to be consisted of on the prominent Time 100 list of the most influential business worldwide. We focus on supplying payroll and workforce management services to workers in more than 160 countries. I am delighted to introduce Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to meet you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments market, I have concentrated on payroll and payment options for the past 7 years. The complexities and difficulties of this field have actually constantly captivated me.
payroll payments and chose to sort of make a genuine go at that over the last five or six years where I have actually sort of had a range of various roles on the provider side and also on the supplier side from a payroll viewpoint 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 simply 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 sort of let them do that so it 'd be rather fascinating and I can see it going on currently simply to hear where everyone is um it's nice to to type of like see where everyone comes from and I actually 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 really very gloomy and I want I was somewhere else at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the challenge years of handling International payroll why companies keep separate
savings account payroll virtual wallets versus payroll bank accounts payroll payroll uh sorry papaya payroll payments anticipating payroll expenses utilizing virtual payroll accounts enhancing papaya Worldwide payroll payments as a tactical asset uh we'll likewise discuss a wrap-up and that ought to leave his time at the really really end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Global workforces end up being a growing number of common and managing them becomes a growing number of complicated Global companies are seeking to find Solutions and new methods to improve procedures particularly from a payroll and cross-border payment perspective numerous organizations preserve separate bank account just for payroll while some have several accounts in different nations does it make sense for business to maintain separate savings account sometimes in various countries it does but just for payroll is there a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting international business enhance the episode complex procedures of
Making sure accurate, efficient, and timely payroll payments is a complex obstacle for organizations operating worldwide. Join us for a webinar to explore the benefits and drawbacks of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to optimize working capital, and discover how simplifying worldwide payroll payments can transform them from a troublesome task into a tactical property.
Handling payroll worldwide is an overwhelming job due to numerous guidelines, compliance requirements, data security issues, and banking rules. The large number of staff members and organizations contributes to the complexity, with an approximated 3.5 billion people in the global labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems frequently result in manual processes, information silos, and a lack of combination, causing disparities and ineffectiveness. In spite of living in a period of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed manually, typically utilizing pen and paper. This webinar objectives to offer insights and services to streamline and enhance international payroll payments.
about it to give you a concept of how far there still is to come according to Deloitte just 11 of services state they have Workforce data in real time that's another number that provides me sleepless nights and rather honestly the more an organization spends on worldwide payroll the less of a photo they see a lack of exposure also reaches payroll payments and inability to accurately track these payments can cause compliance incidents in the last mile of the deal nearly half of international businesses have actually revealed that they do not have the level of standardization they require in their procedures or want and as a result eighty percent of errors are due to time reporting bad HCM data information entry errors improperly interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the information is delivered to the wrong place the average 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 around the world payroll and payments do not run smoothly if they rely on the needed multiple 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 obstacles organization face when they're making payments to staff members or otherwise that's a great concern I constantly toss this back and state what is it what doesn't need to be included ideal and what does
it need 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 time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the client's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is definitely crucial but everywhere you look with payroll payment they are like incredibly payments no if but some infants 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 acknowledgment that payroll payments are definitely essential and technology is allowing us to sort of progress with that it likewise too to contribute to that payroll and finance need to work closer together um with differing Savings account Particulars varying banking requirements and setup processes is definitely necessary that payroll and finance groups work closer together than ever um I'm constantly surprised when individuals 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 occupation would they divide the payroll payment from estimation I would say no so why do we as a market accept that why our payroll and payments so typically split and cut up um eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people wherever they are but also paying statutory authorities and on statutory third parties so with the
world we live in and well-being being a growing number of important to add to kind of the level of intricacy there's increasingly more advantages being organ or being used by companies throughout the world so again you're simply looking to add a growing number of payments to this currently intricate landscape so if you type of got any experience well I'm from your huge experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine tough type of pay utilizes to play to pay individuals I think yeah I indicate over the last well yeah a couple of decades I would absolutely say that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the job there are groups feeding information into the next function as it were that's actually handling the payment side of things but you understand in in my opinion and my experience that does not always require to be the case you understand long gone are the times where we require to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you stated payroll is the single greatest liability that any organization has from a cost perspective from an effect perspective on staff members it is definitely crucial that it's done correctly and on time so what we suggest by that is not a day before not a day after on pay day and payments have to be done right it has the most significant harmful impact on people's well-being and numerous other factors if people aren't paid uh I have actually always been astonished entering into this Market type of the last five to ten years is how little thanks the
The payroll team may not have been thanked for properly processing payroll throughout a webinar. If anybody has actually been thanked, it would be terrific to hear their success story, whether it's from all workers or not. Payroll is an essential cycle, and individuals only discover when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally also. For that reason, it is important to guarantee that tasks like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the very first Worldwide Payments very first payroll payment solution is an excellent initial step towards offering a thorough payroll service for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and savings account required for worldwide payroll are essential factors in attaining organization success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few complaints when things do not go as planned. Ultimately, we don't do it for the gratitude.
anyway we understand how how essential 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 involved in those processes and also so envision sorry I'm simply I was just gon na say envision the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make sure we're discussing hundreds of thousands potentially Millions envision getting that many thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task trying to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse them and really see what was going on and sort of try to return to everybody so moving on look why do business choose to main different bank accounts there are companies out there doing precisely this for particular nations and I've operated in an organization or many services doing precisely that I can say it does not always feel efficient and it does develop more work I know we're not intentionally doing that we're not developing extra work for anyone where we do not need to and any person that's handling that procedure I 'd be interested to hear your thoughts Johnny why do you think that we're doing that in in the in the quantity that we are I believe many reasons one is it's the requirement I think people have got so utilized to we need a brand-new savings account we open an entity and rightly so you require it for payroll functions 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 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 kind of do it so I believe there's a range I believe this is a procedure that requires looking at it requires altering but eventually people are very stuck with what they're familiar
with ideal um modification is a tough thing we all do not like change um so I believe it's simply kind of moving far from the norm as we've said so yeah so it keeps a great deal of track of things um I comprehend certainly the advantages of having preserving multiple checking account however there's a big amount of complexity goes with setting up a bank account keeping it ensuring it can send out International transfers guaranteeing it's established with the right user accesses for individual people so the intricacy is big but I think the sincere answer is modification um individuals haven't had the ability to change or have not had necessarily the understanding to truly make that change into alternate Solutions besides opening a checking account I believe you've hit the nail on the head I think it is knowledge you understand and there is a component of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could nearly be determined to be the next Century or so there is a lot to keep track of and this approach does position several challenges um so Johnny could you inform 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Worldwide employees you should have a corner office with a more detailed parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
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