Find out more about Papaya Global Create New Company From Backup ... We now have the capability to manage both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer specifically dedicated to managing payments. This offers us with a safe and dependable approach of paying to our 10,000 employees worldwide.}
the BEST international payroll managment app, conserves me hours of time on a monthly basis, one single control panel for my payroll, EOR and contractors
Employee Website
Workers have access to a Staff member Portal where they can view their pay slips, wage and tax declarations and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile phone.
Benefits Administration
Papaya Global helps companies offer competitive advantages plans to worldwide workers despite the number of workers in the company. The business can establish health insurance, short-term and long-term impairment, vision, oral and maternity leave while removing the need to source regional benefits service providers in every nation, produce regional accounts and have a minimum number of workers.
International HR Performances
's HR functionalities include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your staff members require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force variety, total work expenses dispersed per location, total work costs per cycle and a lot more.
environments across the globe I offered leadership and method to populations of over a hundred thousand staff members in more than 170 countries today I'm the payroll techniques for as Mark said I work across the business managing and structure external relationships supporting Business customers and solutions along with acting as a consultant for those of you that do not know who papaya Global is papaya is the first payroll and payments
As a global business, we are honored to be included on the prestigious Time 100 list of the most influential companies worldwide. We specialize in supplying payroll and workforce management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's a satisfaction to fulfill you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and obstacles of this field have constantly captivated me.
payroll payments and decided to type of make a real go at that over the last 5 or six years where I've kind of had a variety of different functions on the provider side and also on the vendor side from a payroll perspective so truly eagerly anticipating this discussion today um and yeah thank you very much for your time everybody all right thanks Johnny uh we'll just provide everybody another couple of uh well one of the 30 seconds approximately to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on already just to hear where everyone is um it's nice to to kind of like see where everyone comes from and I truly do hope it's much sunnier than it remains in the UK today definitely not the peak of the sunlight is it it's not no it's it's raining here it's really extremely gloomy and I want I was elsewhere at this moment in time okay so let's get started our program for today is as follows um we are going to be looking at the challenge years of managing Global payroll why business keep different
Virtual payroll accounts are an alternative to standard checking account for managing payroll payments. This is especially useful for worldwide organizations with dispersed and remote workforces, as it streamlines the complex process of cross-border payments. Instead of keeping different savings account for payroll in various countries, virtual accounts and digital wallets use a more structured solution. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a tactical possession for payroll executives. We will likewise supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments precisely effectively firmly and on time throughout this webinar we'll walk you through the worldwide pros and cons of a payroll wallet versus a payroll savings account how business precisely forecast their payroll costs to increase working capital and how simplifying Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be difficult in sufficient in one nation but when you're doing it worldwide it's next level and Beyond it becomes intricate for a variety of factors most significantly policies compliance data security and banking rules then there are the large numbers they add more complexity the global Workforce is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and further 1.1 billion people that number is currently 500 million just for for a scale then consider that there are some 230 million services and growing all doing their own thing all over the world in the standard payroll model there's often a frustrating number of different systems leading to time-consuming manual processes and silos the number of Integrations could be non-existent in large amounts and or extremely very fundamental there's no genuine consistency framework we're living in an age 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 just blows my mind every time I I believe
about it to provide you a concept of how far there still is to come according to Deloitte just 11 of companies say they have Workforce information in real time that's another number that offers me sleepless nights and quite honestly the more a company invests in international payroll the less of a picture they see an absence of visibility likewise reaches payroll payments and failure to precisely track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide companies have expressed that they do not 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 improperly interacted hires and terminations along with absence management and system configurations and then when you round everything off and the information is shipped to the incorrect place the average cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the money worldwide payroll and payments don't run smoothly if they count on the required several procedures systems and partners it is simply not possible so Johnny from a payments point of view and in your experience what else requires to be factored into the challenges organization face when they're paying to workers or otherwise that's a good question I constantly toss this back and say what is it what doesn't 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 timespan 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 consumer's own in-country account so there's intricacy any place you look best eventually developing a knowledge base is absolutely vital however everywhere you look with payroll payment they resemble very payments no if however some children about it you are all superheroes processing payments for payroll if you take a look at the kind of link between fintech and payroll it's closer than ever I think there's now a bit more recognition that payroll payments are absolutely essential and technology is enabling us to type of progress with that it also as well to contribute to that payroll and financing need to work closer together um with differing Checking account Details varying banking requirements and setup processes is definitely imperative that payroll and financing teams work more detailed together than ever um I'm always impressed when people say I've divided payroll and payment um if you walk down the street and asked anyone what is payroll who does not operate in the payroll occupation would they split the payroll payment from estimation 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 ultimately it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people wherever they are however likewise paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high value on wellness and the compensation landscape is becoming increasingly intricate. Businesses are constantly introducing new benefits and payment options, which adds to the total intricacy. Big corporations often divide their payroll and payment processing into separate groups, which can result in inefficiencies and traffic jams. In my opinion, this does not have to be the case. In today's technologically advanced age, there's no justification for maintaining troublesome procedures. Payroll, the company's biggest cost, should be processed correctly and on time. Even small hold-ups can adversely impact employees' well-being and have far-reaching effects. Therefore, it's critical to prioritize precise and prompt payments.
payroll group get um so I'm not sure anybody on this type of webinar has been informed 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 important cycle all of us become aware of it when it goes wrong everybody jumps up and down when it fails however when it goes right it's just a tick box exercise and I believe that's how it's seen from the external consider as well um so yeah it's likewise 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 Worldwide Payments very first payroll payment option is a fantastic initial step um supplying an end-to-end payroll option for your employees internationally again I think is another big um process again lining up and ensuring you have standardization International procedures all of those things are absolutely key to success success of companies and lowering the variety of tools platforms and checking account they need 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've never had a hundred countless 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 grievances where things have not gone quite where they're suggested to be um I do not believe any of us are really doing that for for the thanks
anyhow we understand how how essential a role 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 procedures and likewise so imagine sorry I'm simply I was just gon na state envision the amount of thanks you got if you might cover the amount of people that we cover within this webinar I make sure we're talking about hundreds of thousands possibly Millions think of getting that lots of thank you notes um I suggest it 'd be interesting to see the number of Post-it notes you got but it would definitely be an intriguing task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that held true um you 'd require days of the week to try to browse them and actually see what was going on and type of try to get back to everyone so proceeding appearance why do business select to main different savings account there are companies out there doing exactly this for particular nations and I have actually worked in an organization or numerous companies doing precisely that I can say it does not constantly feel efficient and it does produce more work I know we're not deliberately doing that we're not creating extra work for anybody where we do not have to and anyone 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 quantity that we are I think many reasons one is it's the requirement I think people have got so used to we need a brand-new savings account we open an entity and rightly so you need it for payroll functions but there are a variety of markets where it's not a requirement so I believe it's just been the standard and the norm individuals have embraced and continue to do over years and years gone past to contribute to that people have taken a look at things like trust accounts and many other methods um to to sort of do it so I think there's a variety I believe this is a procedure that needs looking at it requires altering but ultimately people are really stuck with what they're familiar
with ideal um change is a difficult thing we all don't like modification um so I believe 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 understand clearly the benefits of having preserving several savings account however there's a huge quantity of complexity chooses setting up a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for private people so the intricacy is substantial however I believe the truthful response is modification um individuals have not been able to alter or haven't had necessarily the understanding to really make that change into alternate Solutions besides opening a checking account I believe you have actually hit the nail on the head I believe it is understanding you know and there is an aspect of resistance to alter however we've always done it that way is no genuine excuse for not looking at the the advantages and the possibilities of moving on and moving into you know what might practically be determined to be the next Century approximately there is a lot to track and this approach does pose numerous challenges um so Johnny might you tell us about those difficulties yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gained another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 workers worldwide. Your dedication to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner office with a parking space that is closer, considering your achievements.
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