Find out more about Papaya Global Process ... 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 acquired a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and dependable approach of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and contractors
Employee Portal
Staff members have access to a Staff member Website where they can view their pay slips, wage and tax declarations and employment documents. The portal is offered in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business use competitive advantages bundles to worldwide employees despite the variety of workers in the business. The company can set up medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional advantages providers in every nation, create regional accounts and have a minimum number of employees.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, labor force variety, total work costs distributed per place, overall work expenses per cycle and far more.
environments around the world I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work across business handling and building external relationships supporting Business customers and solutions along with acting as a consultant for those of you that don't understand who papaya Worldwide is papaya is the very first payroll and payments
As a worldwide business, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We concentrate on supplying payroll and workforce management services to staff members in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny present himself. Good day to all, no matter your location. It's a pleasure to meet you and thank you for your valuable time. As Ian mentioned, 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 intricacies and challenges of this field have actually always mesmerized me.
payroll payments and decided to type of make a real go at that over the last five or 6 years where I have actually type of had a range of different functions on the service provider side and also on the vendor side from a payroll point of view so truly looking forward to this conversation today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll just offer everyone another couple of uh well among the 30 seconds or two to join we all work back to back nowadays so we'll sort of let them do that so it 'd be rather fascinating and I can see it going on already simply to hear where everybody is um it's nice to to sort of like see where everybody originates 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 extremely really bleak and I want I was elsewhere at this moment in time fine so let's start 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 maintain separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a strategic possession uh we'll also go over a recap which ought to leave his time at the very very end for a q a session so as the title of the webinar recommends payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being more and more typical and handling them becomes more and more intricate Worldwide organizations are wanting to discover Solutions and new ways to simplify procedures specifically from a payroll and cross-border payment perspective numerous organizations keep different checking account just for payroll while some have several accounts in different nations does it make sense for companies to preserve different savings account sometimes in different nations it does however just for payroll exists a better method what role do virtual accounts and digital wallets also referred to as virtual wallets play in assisting multinational business enhance the episode complex procedures of
Making sure accurate, effective, and prompt payroll payments is a complex challenge for organizations running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll bank accounts, learn how business forecast payroll costs to optimize working capital, and discover how streamlining global payroll payments can transform them from a troublesome job into a strategic possession.
Managing payroll internationally is a difficult job due to various policies, compliance requirements, information security issues, and banking guidelines. The large variety of workers and organizations contributes to the complexity, with an estimated 3.5 billion people in the worldwide labor force, 500 countless whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems often result in manual processes, information silos, and a lack of integration, causing inconsistencies and inefficiencies. In spite of residing in an age of technological advancements, payroll management has actually been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar objectives to offer insights and solutions to simplify and optimize worldwide payroll payments.
about it to provide you an idea of how far there still is to come according to Deloitte only 11 of organizations say they have Workforce data in real time that's another number that gives me sleep deprived nights and quite frankly the more a service invests in global payroll the less of a picture they see an absence of visibility likewise extends to payroll payments and inability to precisely track these payments can result in compliance incidents in the last mile of the deal nearly half of worldwide services have revealed 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 due to time reporting bad HCM data data entry errors badly communicated hires and terminations as well as lack management and system setups and then when you round everything off and the information is shipped to the incorrect location the average cost of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still require to move the cash around the globe payroll and payments don't run efficiently if they depend on the needed 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 obstacles service face when they're making payments to employees or otherwise that's a great question I constantly throw this back and say what is it what doesn't require to be included ideal 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 nation there's payment timespan there's payment capabilities 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 intricacy any place you look ideal ultimately developing a knowledge base is absolutely vital however all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 innovation is allowing us to sort of progress with that it also also to contribute to that payroll and financing require to work closer together um with differing Bank Account Particulars differing banking requirements and setup procedures is definitely crucial that payroll and finance groups work better together than ever um I'm always impressed when individuals state I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not work in the payroll occupation would they split 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals any place they are however also paying statutory authorities and on statutory 3rd parties so with the
The modern world positions a high worth on well-being and the compensation landscape is becoming significantly complex. Organizations are continually presenting new benefits and payment alternatives, which adds to the total intricacy. Large corporations often divide their payroll and payment processing into separate teams, which can lead to inadequacies and bottlenecks. In my viewpoint, this doesn't need to hold true. In today's technically sophisticated age, there's no justification for preserving troublesome treatments. Payroll, the business's most significant expense, need to be processed properly and on time. Even slight delays can negatively impact staff members' wellness and have significant repercussions. For that reason, it's important to focus on accurate and prompt payments.
payroll team get um so I'm not exactly sure anybody on this sort of webinar has actually been informed 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 however eventually payroll is such an important cycle we all find out about it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I think 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 things is definitely vital that all of this stuff is done correctly so leveraging the very first Global Payments first payroll payment option is an excellent primary step um supplying an end-to-end payroll option for your employees internationally again I believe is another big um process once again lining up and guaranteeing you have standardization Worldwide processes all of those things are absolutely crucial to success success of organizations and lowering the number of tools platforms and bank accounts they require for their International 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 have actually never had a hundred countless them within a payroll cycle do not expect to you do get the odd 5 or ten or whatever it might be with the with the the problems where things haven't gone rather where they're suggested to be um I don't believe any of us are in fact doing that for for the thanks
anyway we understand how how crucial 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 processes and likewise so picture sorry I'm simply I was just gon na state think of the amount of thanks you got if you might cover the amount of individuals that we cover within this webinar I'm sure we're talking about numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see how many Post-it notes you got but it would certainly be a fascinating task trying to clean all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that held true um you 'd need days of the week to attempt to check out them and in fact see what was going on and type of shot to get back to everyone so carrying on appearance why do companies choose to main different bank accounts there are businesses out there doing precisely this for particular nations and I have actually operated in a service or many companies doing precisely that I can say it does not constantly feel efficient and it does produce more work I understand we're not purposely doing that we're not developing extra work for any person where we don't need to and anyone that's dealing with 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 believe lots of factors one is it's the standard I think individuals have actually got so used to we require a brand-new checking account we open an entity and appropriately so you require it for payroll purposes but 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 looked at things like trust accounts and many other methods um to to sort of do it so I believe there's a variety I believe this is a procedure that needs looking at it requires changing but eventually people are extremely stuck with what they recognize
with best um change is a hard thing we all don't like modification um so I believe it's just sort of moving far from the standard as we've said so yeah so it keeps a great deal of track of things um I understand obviously the advantages of having preserving several bank accounts but there's a big quantity of complexity chooses setting up a savings account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the ideal user accesses for specific people so the complexity is huge however I think the sincere response is modification um people haven't had the ability to alter or haven't had necessarily the understanding to actually make that change into alternate Solutions other than opening a bank account I believe you've struck the nail on the head I think it is knowledge you know and there is a component 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 proceeding and moving into you know what could practically be determined to be the next Century or two there is a lot to monitor and this approach does posture a number of obstacles um so Johnny could you tell us about those obstacles yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this enhanced capability, I have actually effectively protected payments for our 10,000 employees worldwide. Your dedication to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You deserve a corner office with a parking space that is more detailed, considering your achievements.
Nominal Link Settings Papaya Global