Find out more about Papaya Global Closing After Trying To Update Programme ... We now have the capability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This provides us with a secure and trusted method of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time each month, one single dashboard for my payroll, EOR and contractors
Worker Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax statements and employment files. The website is readily available in multiple languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps business provide competitive benefits plans to global employees no matter the number of workers in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while eliminating the requirement to source local benefits service providers in every country, produce local accounts and have a minimum variety of workers.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, workforce variety, total work costs distributed per place, overall work expenses per cycle and far more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and structure external relationships supporting Business customers and services in addition to serving as a consultant for those of you that don't understand who papaya Global is papaya is the very first payroll and payments
company to make the time 100 list for most influential business worldwide we supply payroll payments and workforce management to all worker types in over 160 nations I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning great afternoon great night depending on where you are in the world it's beautiful to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and specifically dealing with the payroll and payment sector for over 7 years um I was amazed by the intricacy the problem in all of the above of
payroll payments and decided to type of make a genuine go at that over the last five or six years where I have actually type of had a range of various roles on the supplier side and likewise on the vendor side from a payroll viewpoint so actually looking forward to this conversation today um and yeah thank you quite for your time everybody okay thanks Johnny uh we'll simply provide everyone another couple of uh well among the 30 seconds approximately to join all of us 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 just to hear where everybody 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 certainly not the peak of the sunshine is it it's not no it's it's raining here it's very really uninspiring and I wish I was somewhere else at this moment in time fine so let's get going our agenda for today is as follows um we are going to be taking a look at the obstacle years of managing Global payroll why companies preserve different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for international companies with dispersed and remote labor forces, as it simplifies the complicated process of cross-border payments. Instead of keeping separate checking account for payroll in different countries, virtual accounts and digital wallets offer a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are ending up being a tactical property for payroll executives. We will likewise offer a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments accurately efficiently firmly and on time during this webinar we'll stroll you through the international benefits and drawbacks of a payroll wallet versus a payroll checking account how companies accurately anticipate their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a strategic property so payroll can be difficult in sufficient in one nation however when you're doing it worldwide it's next level and Beyond it becomes complex for a range of reasons most notably guidelines compliance information security and banking rules then there are the large numbers they add further complexity the international Workforce is presently three and a half billion people by 2030 it's approximated that in Africa alone they will contribute and additional 1.1 billion individuals that number is presently 500 million just for for a scale then consider that there are some 230 million companies and growing all doing their own thing around the world in the conventional payroll design there's typically a frustrating number of different systems causing time-consuming manual processes and silos the number of Integrations could be non-existent in big quantities and or very really basic there's no genuine consistency framework we're living in a period of tech but 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 believe
about it to provide you a concept of how far there still is to come according to Deloitte only 11 of businesses say they have Labor force data in real time that's another number that provides me sleepless nights and quite frankly the more a company spends on global payroll the less of a photo they see a lack of exposure also reaches payroll payments and failure to precisely track these payments can result in compliance mishaps in the last mile of the deal almost half of international services have expressed that they don't have the level of standardization they need in their processes or desire and as a result eighty percent of mistakes are because of time reporting bad HCM data data entry mistakes inadequately interacted hires and terminations in addition to lack management and system configurations and then when you round it all off and the information is shipped to the wrong location the average expense of a worldwide information breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money around the globe payroll and payments don't run efficiently if they count on the required multiple procedures systems and partners it is just not possible so Johnny from a payments viewpoint 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 question I constantly throw this back and state what is it what does not require to be included right and what does
it require to be thought about there's differing 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 abilities 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 ideal ultimately developing a knowledge base is absolutely critical however everywhere you look with payroll payment they are like very payments no if however some infants about it you are all superheroes processing payments for payroll if you look at the kind of link 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 technology is allowing us to sort of move forward with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup procedures is definitely crucial that payroll and financing groups work more detailed together than ever um I'm constantly impressed when people state I have actually split payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't 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 wherever they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being more and more essential to contribute to sort of the level of intricacy there's a growing number of advantages being organ or being offered by companies throughout the world so again you're simply aiming to include increasingly more payments to this already complex landscape so if you sort of got any experience well I'm from your huge experience here and I make certain however have you got any experience in kind of genuine difficulties or real difficult sort of pay uses to play to pay people I believe yeah I suggest over the last well yeah a couple of decades I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are teams doing one part of the job there are groups feeding info into the next function as it were that's actually handling the payment side of things however you know in in my opinion and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce extra handoffs in the processes that we operate in they simply make them more timely they make them less effective and they don't make them what they need to be in in an era of tech and a period that you know that we are working in today there is no reason we are still making this as tough as it requires to be agreed and appropriately as you said payroll is the single greatest liability that any business has from an expense perspective from an effect viewpoint on employees it is definitely critical that it's done properly and on time so what we imply by that is not a day before not a day after on pay day and payments need to be done right it has the greatest damaging effect on people's well-being and many other factors if individuals aren't paid uh I have actually constantly been surprised entering this Market sort of the last five to 10 years is how little thanks the
payroll group get um so I'm unsure anybody on this kind of webinar has actually been informed thank you for processing my payroll correctly if you have it 'd be fantastic to hear your success story and whether that's been from all workers or not um however eventually payroll is such an essential cycle we all become aware of it when it fails everyone 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 deem well um so yeah it's also like why WI-Fi Global why all of this things is absolutely vital that all of this things is done correctly so leveraging the very first Worldwide Payments first payroll payment service is a great primary step um providing an end-to-end payroll option for your employees internationally again I believe is another huge um procedure again lining up and guaranteeing you have standardization Global procedures all of those things are definitely essential to success success of services and decreasing the number of tools platforms and bank accounts they need for their Global payroll too could not agree with you more and on the the front in regards to of the thank yous for getting payroll done I've never had a hundred thousand of them within a payroll cycle don't expect to you do get the odd five or 10 or whatever it might be with the with the the grievances where things have not gone rather where they're indicated to be um I do not believe any of us are in fact doing that for for the thanks
anyhow we understand how how important a role 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 easy as possible for everybody that's involved in those procedures and likewise so think of sorry I'm simply I was simply gon na say picture the amount of thanks you got if you could cover the quantity of people that we cover within this webinar I make sure we're discussing numerous thousands possibly Millions imagine getting that many thank you notes um I imply it 'd be interesting to see how many Post-it notes you got but it would absolutely be a fascinating task attempting to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and really see what was going on and sort of try to get back to everyone so moving on appearance why do business choose to main separate savings account there are companies out there doing precisely this for particular nations and I've operated in a service or lots of companies doing exactly that I can say it does not always feel efficient and it does develop more work I understand we're not intentionally doing that we're not producing extra work for anybody where we don't have to and anybody that's dealing with that procedure 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 many factors one is it's the standard I believe individuals have actually got so used to we need a new checking 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 just been the requirement and the standard the people have adopted and continue to do over years and years passed by to contribute to that people have actually taken a look at things like trust accounts and numerous other methods um to to sort of do it so I think there's a range I believe this is a process that needs looking at it needs altering but eventually people are very stuck with what they're familiar
with best um modification is a difficult thing we all do not like modification um so I believe it's simply type of moving away from the norm as we've said so yeah so it keeps a great deal of track of stuff um I understand obviously the benefits of having preserving several bank accounts however there's a substantial amount of intricacy chooses establishing a checking account maintaining it ensuring it can send out International transfers ensuring it's established with the ideal user accesses for individual people so the intricacy is huge however I think the sincere response is change um individuals have not been able to change or have not had always the understanding to truly make that change into alternate Solutions aside from opening a savings account I believe you've struck the nail on the head I believe it is understanding you know and there is an element of resistance to change but we've constantly done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you understand what might practically be determined to be the next Century approximately there is a lot to keep track of and this approach does pose numerous challenges um so Johnny might you tell us about those obstacles 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 resembles our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 Global employees you are worthy of a corner workplace with a better parking space since I mastered International payroll and payments with Papaya payroll OS did you
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