Find out more about Papaya Global Cancellation ... We now have the capability to manage both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to handling payments. This offers us with a safe and dependable approach of making payments to our 10,000 staff members worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Worker Portal supplies staff members with the capability to gain access to and view important files such as pay slips, wage and tax statements, and employment records. This portal is accessible on both desktop and mobile devices and is used in various languages.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to international employees regardless of the number of staff members in the business. The company can establish medical insurance, short-term and long-term special needs, vision, oral and maternity leave while eliminating the need to source regional benefits suppliers in every country, develop regional accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and migration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, workforce variety, total employment expenses distributed per area, total employment costs per cycle and much more.
environments across the globe I supplied leadership and strategy to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll strategies for as Mark stated I work throughout business managing and structure external relationships supporting Enterprise clients and options in addition to acting as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for a lot of prominent business worldwide we supply payroll payments and workforce management to all staff member types in over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning good afternoon good evening depending on where you are in the world it's charming to meet you and thank you quite for your time as Ian stated 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 dealing with the payroll and payment sector for over 7 years um I was fascinated by the complexity the problem in all of the above of
payroll payments and chose to type of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of different functions on the supplier side and likewise on the supplier side from a payroll point of view so actually looking forward to this discussion today um and yeah thank you very much for your time everybody alright thanks Johnny uh we'll just provide everyone another number of uh well one of the 30 seconds or two 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 interesting and I can see it going on already just to hear where everyone is um it's nice to to sort of like see where everyone originates from and I really 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 drizzling here it's extremely extremely bleak and I want I was elsewhere at this moment in time fine so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why business preserve separate
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Global payroll payments as a strategic property uh we'll likewise discuss a wrap-up and that should leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll execs on transferring to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more common and managing them becomes increasingly more complex International companies are wanting to find Solutions and brand-new ways to simplify processes particularly from a payroll and cross-border payment perspective many companies keep separate bank account just for payroll while some have numerous accounts in different nations does it make good sense for business to maintain different bank accounts often in various countries it does but just for payroll exists a much better way what role do virtual accounts and digital wallets also called virtual wallets play in assisting multinational companies simplify the episode complex processes of
Guaranteeing precise, efficient, and prompt payroll payments is a complex challenge for companies running internationally. Join us for a webinar to check out the advantages and drawbacks of payroll wallets versus payroll savings account, find out how companies anticipate payroll costs to optimize working capital, and find how streamlining international payroll payments can transform them from a challenging job into a tactical possession.
Managing payroll internationally is a daunting job due to various regulations, compliance requirements, data security concerns, and banking rules. The large variety of staff members and services adds to the intricacy, with an estimated 3.5 billion people in the international labor force, 500 million of whom are in Africa, and 230 million businesses worldwide.
Standard payroll systems often lead to manual procedures, data silos, and an absence of integration, leading to inconsistencies and ineffectiveness. Regardless of residing in a period of technological advancements, payroll management has been slow to adapt, with as much as 25% of payroll still processed manually, often utilizing pen and paper. This webinar objectives to provide insights and options to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and quite frankly the more a business invests in worldwide payroll the less of a picture they see a lack of visibility likewise encompasses payroll payments and failure to properly track these payments can result in compliance accidents in the last mile of the transaction nearly half of international organizations have actually expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of mistakes are due to time reporting bad HCM information data entry mistakes inadequately interacted hires and terminations as well as absence management and system setups and then when you round all of it off and the data is shipped to the incorrect location the average expense of an international information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash all over the world payroll and payments don't run smoothly if they count on the essential several procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the difficulties service face when they're making payments to workers or otherwise that's a great concern I constantly toss this back and state what is it what does not require to be included best and what does
it need to be thought about there's varying Bank details 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 have to pay from the client's own in-country account so there's intricacy any place you look ideal ultimately developing a knowledge base is definitely important but everywhere you look with payroll payment they resemble very payments no if however some babies about it you are all superheroes processing payments for payroll if you look at the sort of link 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 enabling us to sort of move on with that it also also to contribute to that payroll and finance need to work closer together um with differing Checking account Details varying banking requirements and setup processes is absolutely crucial that payroll and finance teams work more detailed together than ever um I'm always astonished when individuals state I have actually divided payroll and payment um if you walk down the street and asked anybody what is payroll who does not operate 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 often 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 individuals any place they are however likewise paying statutory authorities and on statutory 3rd parties so with the
The contemporary world positions a high value on wellness and the compensation landscape is becoming increasingly elaborate. Services are constantly presenting brand-new benefits and payment alternatives, which adds to the general intricacy. Large corporations typically divide their payroll and payment processing into different teams, which can result in inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's highly advanced age, there's no justification for preserving troublesome treatments. Payroll, the business's greatest cost, need to be processed correctly and on time. Even slight hold-ups can adversely affect staff members' well-being and have significant consequences. For that reason, it's vital to focus on accurate and timely payments.
payroll team get um so I'm unsure anybody on this kind of webinar has been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such a crucial cycle all of us find out about it when it goes wrong everyone jumps up and down when it fails but when it goes right it's simply a tick box workout and I think that's how it's seen from the external deem well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely important that all of this stuff is done properly so leveraging the very first Worldwide Payments first payroll payment solution is a terrific initial step um providing an end-to-end payroll solution for your employees globally once again I think is another huge um process again aligning and ensuring you have standardization International procedures all of those things are definitely key to success success of companies and minimizing the variety of tools platforms and savings account they require for their Worldwide payroll too couldn't agree with you more and on the the front in regards to of the thank yous for getting payroll done I have actually never ever 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 meant to be um I do not think any of us are actually doing that for for the thanks
anyway 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 involved in those processes and likewise so picture sorry I'm simply I was just gon na say envision the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I'm sure we're discussing hundreds of thousands possibly Millions imagine getting that lots of thank you keeps in mind um I imply it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean up all those up for sure oh absolutely I can't envision the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and really see what was going on and sort of try to get back to everybody so proceeding appearance why do companies pick to primary separate checking account there are businesses out there doing exactly this for specific countries and I've operated in a business or numerous organizations doing precisely that I can say it doesn't always feel effective and it does develop more work I understand we're not purposely doing that we're not creating additional work for anyone where we do not need to and any person 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 amount that we are I believe many factors one is it's the requirement I believe people have actually got so utilized to we need a new checking account we open an entity and appropriately so you require it for payroll functions however there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard the people have actually adopted and continue to do over years and years gone past 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 think there's a variety I think this is a process that requires looking at it needs altering however ultimately individuals are very stuck to what they're familiar
with right um modification is a hard thing all of us do not like change um so I believe 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 things um I understand certainly the advantages of having preserving multiple savings account however there's a substantial amount of complexity opts for establishing a checking account preserving it ensuring it can send International transfers ensuring it's set up with the right user accesses for specific individuals so the intricacy is big but I believe the truthful response is change um individuals haven't been able to change or have not had always the knowledge to actually make that change into alternate Solutions aside from opening a bank account I think you've hit the nail on the head I think it is understanding you know and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not looking at the the advantages and the possibilities of carrying on and moving into you know what could nearly be identified to be the next Century approximately there is a lot to keep track of and this technique does pose a number of difficulties um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I just did you changed our Business to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you deserve a corner workplace with a better parking space because I mastered International payroll and payments with Papaya payroll OS did you
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