Find out more about Papaya Global Series Scale 45M ... We now have the capability to manage both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has actually obtained a different Chief Financial Officer specifically devoted to managing payments. This provides us with a safe and dependable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time every month, one single dashboard for my payroll, EOR and specialists
The Worker Portal supplies workers with the ability to gain access to and view essential documents such as pay slips, wage and tax statements, and work records. This portal is accessible on both desktop and mobile devices and is offered in different languages.
Advantages Administration
Papaya Global assists business use competitive benefits bundles to worldwide staff members regardless of the number of staff members in the business. The business can establish medical insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the need to source local advantages suppliers in every nation, create local accounts and have a minimum variety of staff members.
Worldwide HR Performances
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' files and immigration services if your workers need work authorization help.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce costs, labor force diversity, total work expenses dispersed per location, total employment expenses per cycle and a lot more.
environments around the world I offered leadership and technique 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 throughout the business handling and structure external relationships supporting Business clients and services in addition to serving as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As an international company, we are honored to be included on the prestigious Time 100 list of the most prominent business worldwide. We focus on providing payroll and workforce management services to workers in more than 160 nations. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your place. It's an enjoyment to meet you and thank you for your valuable time. As Ian discussed, I am Johnny Nash, the director of payments at our company. With over a decade of experience in the payments market, I have actually concentrated on payroll and payment services for the past seven years. The intricacies and difficulties of this field have actually always captivated me.
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 various functions on the service provider side and also on the supplier side from a payroll viewpoint so actually anticipating this discussion today um and yeah thank you quite for your time everyone alright thanks Johnny uh we'll simply give 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 sort of let them do that so it 'd be quite intriguing and I can see it going on currently just to hear where everybody is um it's nice to to type of like see where everybody originates from and I truly 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 drizzling here it's very really dreary and I want I was somewhere else at this moment in time okay so let's start our program for today is as follows um we are going to be looking at the challenge years of managing International payroll why business maintain separate
Virtual payroll accounts are an option to traditional bank accounts for handling payroll payments. This is particularly useful for worldwide companies with dispersed and remote labor forces, as it simplifies the complicated procedure of cross-border payments. Instead of keeping different bank accounts for payroll in different nations, virtual accounts and digital wallets provide a more streamlined service. In this webinar, we will check out the advantages of using virtual payroll accounts and go over why they are becoming a strategic property 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 accurately effectively securely and on time during this webinar we'll stroll you through the worldwide advantages and disadvantages of a payroll wallet versus a payroll bank account how business properly forecast their payroll costs to increase working capital and how simplifying International payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in sufficient in one nation however when you're doing it globally it's next level and Beyond it becomes intricate for a variety of reasons most importantly regulations compliance information security and banking guidelines then there are the sheer numbers they include more complexity the worldwide Workforce is presently three and a half billion individuals by 2030 it's approximated that in Africa alone they will contribute and more 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million businesses and growing all doing their own thing around the world in the conventional payroll model there's frequently a frustrating variety of different systems leading to lengthy manual processes and silos the number of Integrations could be non-existent in big quantities and or extremely extremely standard there's no genuine consistency framework we're residing 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 typically with pen and paper which simply blows my mind every time I I believe
about it to give you a concept of how far there still is to come according to Deloitte just 11 of organizations say they have Workforce information in real time that's another number that offers me sleepless nights and rather frankly the more a service spends on international payroll the less of a picture they see a lack of presence also extends to payroll payments and failure to precisely track these payments can lead to compliance incidents in the last mile of the deal almost half of global organizations have actually revealed 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 because of time reporting poor HCM information data entry errors improperly interacted hires and terminations in addition to absence management and system setups and then when you round all of it off and the information is shipped to the incorrect place the average cost of a global information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still require to move the money around the world payroll and payments do not run smoothly if they depend on the needed multiple procedures 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 obstacles company face when they're paying to employees or otherwise that's an excellent question I always throw this back and state what is it what does not need to be consisted of best and what does
it need to be thought about there's differing Bank details so the length of an eye band a swift an account number routing code per country there's payment time frames 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 intricacy wherever you look ideal ultimately developing a knowledge base is definitely important however all over you look with payroll payment they are like super payments no if but some babies about it you are all superheroes processing payments for payroll if you take a 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 essential and technology is permitting us to type of move forward with that it likewise also to contribute to that payroll and finance need to work closer together um with differing Bank Account Particulars varying banking requirements and setup procedures is absolutely imperative that payroll and finance groups work closer together than ever um I'm always astonished when individuals say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll profession would they divide 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 eventually it's payroll is an end-to-end procedure it's the point of information collection all the way through to paying people anywhere they are however also paying statutory authorities and on statutory third parties so with the
world we reside in and well-being being increasingly more crucial to add to sort of the level of complexity there's a growing number of benefits being organ or being provided by companies across the world so once again you're simply seeking to add increasingly more payments to this already intricate landscape so if you type of got any experience well I'm from your huge experience here and I'm sure however have you got any experience in kind of genuine obstacles or real difficult type of pay utilizes to play to pay individuals I think yeah I imply over the last well yeah a number of years I would absolutely state that the bigger an organization gets the more it tends to segregate the payroll and the payments functions um there are teams doing one part of the task there are teams feeding information into the next function as it were that's really handling the payment side of things however you know in in my viewpoint and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to create additional handoffs at the same times that we run in they simply make them more timely they make them less efficient and they do not make them what they need to be in in an age of tech and an era that you understand that we are operating in today there is no reason why we are still making this as hard as it needs to be agreed and appropriately as you said payroll is the single greatest liability that any organization has from an expense viewpoint from an effect perspective on workers it is absolutely important 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 need to be done right it has the most significant damaging impact on people's wellness and many other aspects if people aren't paid uh I have actually always been impressed entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team may not have been thanked for correctly processing payroll during a webinar. If anyone has actually been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is a crucial cycle, and people just see when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally too. For that reason, it is necessary to guarantee that jobs like Wi-Fi Worldwide and other important matters are done correctly. Using the first Global Payments very first payroll payment solution is a fantastic preliminary action towards offering a detailed payroll service for workers worldwide. Standardization, global procedures, and decreasing the variety of tools, platforms, and savings account essential for global payroll are key factors in achieving business success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a few grievances when things do not go as prepared. Eventually, we do not do it for the appreciation.
anyway we understand 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 simple as possible for everyone that's involved in those procedures and likewise so picture sorry I'm simply I was just gon na state imagine 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 picture getting that numerous thank you notes um I indicate it 'd be interesting to see how many Post-it notes you got however it would absolutely be an interesting job trying 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 need days of the week to try to check out them and really see what was going on and sort of shot to return to everyone so proceeding look why do business select to main separate savings account there are businesses out there doing exactly this for specific countries and I've operated in a company or numerous companies doing precisely that I can say it does not always feel efficient and it does produce more work I understand we're not deliberately doing that we're not developing extra work for anyone where we do not have to and anyone that's managing that process 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 believe lots of factors one is it's the requirement I believe individuals have actually got so used to we need a brand-new bank account we open an entity and appropriately so you require it for payroll functions but there are a variety of markets where it's not a requirement so I think it's just been the standard and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have looked at things like trust accounts and many other methods um to to type of do it so I believe there's a range I think this is a process that requires looking at it requires changing however eventually individuals are very stuck to what they're familiar
with ideal um modification is a difficult thing we all do not like change um so I believe it's simply kind of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I understand undoubtedly the advantages of having maintaining numerous bank accounts however there's a huge quantity of intricacy goes with setting up a checking account keeping it ensuring it can send International transfers guaranteeing it's set up with the ideal user accesses for individual individuals so the complexity is substantial however I believe the truthful answer is change um people have not had the ability to change or haven't had always the knowledge to truly make that change into alternate Solutions aside from opening a checking account I believe you have actually hit the nail on the head I believe it is knowledge you understand and there is an element of resistance to alter however we've constantly done it that way is no real reason for not taking a look at the the benefits and the possibilities of proceeding and moving into you understand what might almost be identified to be the next Century or two there is a lot to track and this technique does position a number of difficulties um so Johnny could you tell us about those obstacles yeah obviously so there's a range right there is so
I just recently made a modification to our Enterprise system by transitioning to OS. As a result, we can now handle our payroll and payment tasks on one platform. It seems like our CFO has acquired another CFO, and with this boosted ability, I have successfully secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is more detailed, considering your accomplishments.
Papaya Global Bhutan