Find out more about Papaya Global Card ... We now have the ability to manage both our payroll and payments processes on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer specifically devoted to managing payments. This provides us with a protected and dependable method of paying to our 10,000 employees worldwide.}
the very best worldwide payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and specialists
Employee Website
Workers have access to a Worker Portal where they can view their pay slips, wage and tax declarations and employment documents. The website is available in numerous languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business use competitive advantages bundles to global staff members despite the number of employees in the company. The business can set up health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source local advantages companies in every nation, produce regional accounts and have a minimum variety of staff members.
Worldwide HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and migration services if your employees require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, workforce diversity, total work costs distributed per place, overall work expenses per cycle and much more.
environments around the world I offered management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll methods for as Mark said I work across the business handling and building external relationships supporting Enterprise clients and options as well as functioning as an advisor for those of you that do not 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 influential companies worldwide. We focus on providing payroll and workforce management services to employees 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, regardless of your place. It's an enjoyment to satisfy 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 market, I have focused on payroll and payment solutions for the past seven years. The complexities and difficulties 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 type of had a variety of various functions on the supplier side and likewise on the vendor side from a payroll point of view so truly eagerly anticipating this conversation today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply offer everybody 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 kind of let them do that so it 'd be rather interesting 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 everyone comes from and I actually do hope it's much sunnier than it is in the UK today certainly not the peak of the sunshine is it it's not no it's it's raining here it's very extremely bleak and I wish 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 difficulty years of handling Global payroll why business preserve different
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts simplifying papaya Worldwide payroll payments as a tactical possession uh we'll also go over a recap which needs to leave his time at the extremely very end for a q a session so as the title of the webinar suggests payroll officers on moving to Virtual payroll accounts and here is why as dispersed to remote and International labor forces end up being increasingly more typical and managing them ends up being a growing number of complex Worldwide companies are seeking to find Solutions and brand-new methods to simplify procedures especially from a payroll and cross-border payment viewpoint numerous companies preserve different checking account just for payroll while some have multiple accounts in various countries does it make good sense for business to preserve different checking account often in various nations it does however just for payroll exists a better way what role do virtual accounts and digital wallets likewise called virtual wallets play in helping international companies improve the episode complex processes of
making payroll payments accurately effectively safely and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately forecast their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be tough in sufficient in one country however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of factors most importantly policies compliance data security and banking rules then there are the large numbers they add additional intricacy the global Labor force is presently 3 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 currently 500 million just for for a scale then factor in that there are some 230 million companies and growing all doing their own thing worldwide in the standard payroll model there's frequently an overwhelming variety of various systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in large amounts and or extremely really basic there's no genuine consistency framework we're living in an era of tech however payroll has actually 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 just blows my mind whenever I I believe
about it to give you a concept of how far there still is to come according to Deloitte only 11 of organizations say they have Labor force information in real time that's another number that gives me sleepless nights and quite frankly the more a service invests in global payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and inability to precisely track these payments can result in compliance mishaps in the last mile of the deal nearly half of worldwide organizations have revealed that they don't have the level of standardization they need in their processes or want and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors poorly communicated hires and terminations as well as lack management and system setups and after that when you round all of it off and the information is delivered to the wrong location the average cost of a global data breach at this moment is 3.9 billion dollars when payrolls are done we still need to move the cash around the globe payroll and payments do not run smoothly if they rely on the necessary multiple processes systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else needs to be factored into the challenges service face when they're paying to workers or otherwise that's a good question I constantly throw this back and state 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 details so the length of an eye band a swift an account number routing code per country 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 customer's own in-country account so there's complexity wherever you look ideal eventually constructing a knowledge base is definitely important but everywhere you look with payroll payment they resemble extremely payments no if however some infants 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 recognition that payroll payments are definitely basic and technology is enabling us to type of move on with that it also also to contribute to that payroll and finance require to work closer together um with varying Bank Account Particulars varying banking requirements and setup processes is absolutely essential that payroll and finance groups work more detailed together than ever um I'm constantly astonished when individuals state I've divided payroll and payment um if you stroll down the street and asked anyone what is payroll who doesn't work in the payroll profession 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 ultimately it's payroll is an end-to-end process 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 third parties so with the
world we live in and wellness being increasingly more essential to add to kind of the level of intricacy there's a growing number of benefits being organ or being provided by organizations across the world so once again you're just looking to include more and more payments to this currently complex landscape so if you type of got any experience well I'm from your vast experience here and I'm sure but have you got any experience in kind of real difficulties or real tough kind of pay uses to play to pay individuals I think yeah I imply over the last well yeah a couple of decades I would certainly say that the bigger a business gets the more it tends to segregate the payroll and the payments operates um there are teams doing one part of the task there are groups feeding info into the next function as it were that's actually managing the payment side of things however you understand in in my opinion and my experience that doesn't always require to be the case you know long gone are the times where we require to create extra handoffs in the processes that we operate in they simply make them more prompt they make them less efficient and they don't make them what they require to be in in an age of tech and an era that you know that we are working in today there is no reason that we are still making this as challenging as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any business has from a cost viewpoint from an effect perspective on staff members it is absolutely critical 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 destructive impact on individuals's wellness and many other aspects if individuals aren't paid uh I've constantly been impressed entering into this Market sort of the last 5 to ten years is how little thanks the
The payroll team might not have been thanked for properly processing payroll throughout a webinar. If anyone has actually been thanked, it would be great to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals only see when things go wrong. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's viewed externally as well. Therefore, it is vital to ensure that tasks like Wi-Fi Worldwide and other crucial matters are done properly. Utilizing the first International Payments very first payroll payment solution is a great initial action towards offering an extensive payroll option for employees worldwide. Standardization, worldwide processes, and reducing the number of tools, platforms, and savings account needed for global payroll are crucial factors in attaining business success. While we don't expect a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of problems when things don't go as planned. Eventually, we don't do it for the appreciation.
anyway we know 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 everybody that's associated with those procedures and likewise so envision sorry I'm just I was simply gon na state picture the quantity of thanks you got if you could cover the amount of people that we cover within this webinar I make certain we're speaking about numerous thousands potentially Millions imagine getting that many thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would definitely be an intriguing job trying to clean all those up for sure oh definitely I can't picture 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 sort of try to return to everybody so moving on look why do business choose to main separate bank accounts there are services out there doing precisely this for particular nations and I've worked in a service or lots of companies doing exactly that I can state it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not developing extra work for anyone where we do not have to and anyone that's dealing with 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 factors one is it's the standard I believe people have actually got so used to we require a new checking account we open an entity and rightly so you require it for payroll purposes however there are a variety of markets where it's not a requirement so I believe it's just been the requirement and the norm the people have actually embraced and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and lots of other methods um to to type of do it so I think there's a range I believe this is a process that requires looking at it requires changing but ultimately individuals are extremely stuck to what they recognize
with right um change is a challenging thing all of us do not like change um so I think it's just sort of moving far from the norm as we have actually said so yeah so it keeps a great deal of track of things um I comprehend clearly the benefits of having maintaining several savings account however there's a substantial quantity of intricacy goes with establishing a bank account maintaining it guaranteeing it can send International transfers ensuring it's set up with the best user accesses for private individuals so the intricacy is substantial however I believe the honest answer is change um individuals have not had the ability to alter or have not had necessarily the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you've hit the nail on the head I think it is understanding you understand and there is a component 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 proceeding and moving into you understand what might nearly be identified to be the next Century approximately there is a lot to track and this method does pose several challenges um so Johnny could you tell us about those difficulties yeah of course so there's a range 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 Global employees you deserve a corner workplace with a better parking space because I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Aeo