Find out more about Papaya Global Slips ... We now have the capability to handle both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically committed to managing payments. This provides us with a safe and secure 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 control panel for my payroll, EOR and professionals
The Employee Website provides employees with the capability to gain access to and view crucial files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile phones and is provided in numerous languages.
Advantages Administration
Papaya Global helps business offer competitive advantages packages to worldwide employees regardless of the variety of staff members in the business. The company can establish medical insurance, short-term and long-lasting disability, vision, dental and maternity leave while removing the requirement to source local advantages suppliers in every country, develop local accounts and have a minimum number of employees.
Global HR Functionalities
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your staff members need work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force diversity, total employment costs distributed per location, total work costs per cycle and much more.
Worldwide, I have shown leadership and strategic expertise in guiding large-scale populations of over 100,000 staff members across 170 countries. Currently, I am responsible for overseeing payroll techniques, as discussed by Mark. My role includes managing and establishing external collaborations, supporting Enterprise clients, and providing advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments solutions service provider.
As a worldwide company, we are honored to be consisted of on the distinguished Time 100 list of the most influential business worldwide. We specialize in offering payroll and workforce management services to staff members 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, regardless of your location. It's a pleasure to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our organization. With over a years of experience in the payments industry, I have actually focused on payroll and payment solutions for the past seven years. The intricacies and challenges of this field have actually constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I have actually type of had a variety of different functions on the supplier side and likewise on the vendor side from a payroll point of view so actually eagerly anticipating this conversation today um and yeah thank you quite for your time everybody alright thanks Johnny uh we'll simply provide everyone another number of uh well among the 30 seconds or two to join all of us work back to back these days so we'll kind of let them do that so it 'd be rather fascinating and I can see it going on currently just 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 is in the UK today definitely not the peak of the sunshine is it it's not no it's it's raining here it's extremely extremely dreary and I wish I was somewhere else at this moment in time all right so let's start our program for today is as follows um we are going to be taking a look at the difficulty years of handling Global payroll why business keep different
bank accounts payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll expenses utilizing virtual payroll accounts enhancing papaya International payroll payments as a tactical property uh we'll likewise review a wrap-up and that should leave his time at the extremely really end for a q a session so as the title of the webinar suggests payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become increasingly more common and handling them becomes a growing number of complex International companies are looking to discover Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment standpoint numerous organizations maintain different savings account just for payroll while some have several accounts in different nations does it make good sense for business to keep separate savings account in some cases in different nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets also referred to as virtual wallets play in helping multinational companies improve the episode complex procedures of
making payroll payments precisely effectively firmly and on time during this webinar we'll walk you through the international benefits and drawbacks of a payroll wallet versus a payroll bank account how business properly anticipate their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical property so payroll can be hard in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it ends up being complicated for a range of factors most notably guidelines compliance information security and banking rules then there are the sheer numbers they add more complexity the global Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing around the globe in the traditional payroll design there's often a frustrating variety of various systems resulting in time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or really extremely standard there's no genuine consistency framework we're residing in a period of tech however payroll has been sluggish to get on board in fact as much as 25 of payroll is still done by hand often with pen and paper and that simply blows my mind whenever I I think
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Labor force information in real time that's another number that provides me sleep deprived nights and quite honestly the more a business invests in worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to accurately track these payments can cause compliance accidents in the last mile of the deal nearly half of international services have revealed that they do not have the level of standardization they need in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM information information entry mistakes improperly interacted hires and terminations as well as lack management and system setups and then when you round all of it off and the data is delivered to the incorrect place the typical cost of a global data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the money around the globe payroll and payments do not run smoothly if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the challenges business face when they're paying to workers or otherwise that's an excellent question I constantly toss this back and say what is it what does not need to be consisted of ideal and what does
it require 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 timespan there's payment capabilities so can you pay it from International or do you have to pay from an in-country account do you have to pay from the customer's own in-country account so there's complexity wherever you look right ultimately building a knowledge base is definitely vital however all over you look with payroll payment they resemble incredibly payments no if but some infants about it you are all superheroes processing payments for payroll if you look at the type 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 innovation is permitting us to type of move on with that it also as well to contribute to that payroll and finance need to work closer together um with varying Checking account Particulars differing banking requirements and setup processes is absolutely essential that payroll and finance teams work closer together than ever um I'm constantly impressed when people state I've divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from calculation 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 process it's the point of data collection all the way through to paying people any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The modern-day world puts a high value on well-being and the compensation landscape is becoming significantly intricate. Organizations are constantly presenting new advantages and payment alternatives, which contributes to the overall complexity. Big corporations often divide their payroll and payment processing into different teams, which can lead to ineffectiveness and bottlenecks. In my viewpoint, this does not have to be the case. In today's technically advanced period, there's no justification for preserving cumbersome treatments. Payroll, the business's biggest expenditure, need to be processed correctly and on time. Even minor hold-ups can negatively impact staff members' well-being and have far-reaching effects. For that reason, it's vital to focus on accurate and prompt payments.
payroll group get um so I'm unsure anyone on this sort of webinar has actually been told thank you for processing my payroll correctly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however eventually payroll is such an essential cycle all of us become aware of it when it fails everybody 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 also like why WI-Fi Global why all of this things is absolutely essential that all of this stuff is done properly so leveraging the very first International Payments first payroll payment solution is a fantastic initial step um offering an end-to-end payroll service for your staff members internationally again I believe is another huge um process again lining up and guaranteeing you have standardization Worldwide procedures all of those things are absolutely crucial to success success of companies and decreasing the variety of tools platforms and savings account they need for their International payroll too couldn't 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 thousand of 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 have not gone rather where they're implied to be um I don't think any of us are actually doing that for for the thanks
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 processes and also so think of sorry I'm simply I was just gon na state envision the quantity of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're talking about numerous thousands possibly Millions picture getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got however it would absolutely be a fascinating task attempting to clean 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 require days of the week to try to check out them and actually see what was going on and kind of try to return to everybody so proceeding look why do business pick to primary different bank accounts there are organizations out there doing precisely this for particular countries and I've operated in a business or numerous services doing precisely that I can state it does not 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 have to and anybody 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 amount that we are I believe many factors one is it's the requirement I believe individuals have got so utilized to we require a brand-new checking account we open an entity and rightly so you need 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 individuals have adopted and continue to do over years and years gone past to contribute to that individuals have actually looked at things like trust accounts and many other methods um to to kind of do it so I believe there's a variety I believe this is a procedure that needs looking at it needs altering but ultimately people are really stuck with what they recognize
with best um modification is a challenging thing we all do not like modification 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 great deal of track of things um I understand clearly the advantages of having maintaining several bank accounts however there's a huge quantity of complexity chooses establishing a savings account maintaining it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is huge but I think the honest answer is modification um individuals have not been able to alter or haven't had necessarily the knowledge to really make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I believe it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no genuine reason for not taking a look at the the benefits and the possibilities of moving on and moving into you understand what could practically be figured out to be the next Century or so there is a lot to keep an eye on and this technique does position numerous difficulties um so Johnny could you inform us about those challenges yeah obviously so there's a range right there is so
I recently made a change to our Enterprise 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 boosted ability, I have successfully secured payments for our 10,000 staff members worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You should have a corner office with a parking space that is more detailed, considering your achievements.
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