Find out more about Papaya Global כתובת ... We now have the ability to manage both our payroll and payments processes on one unified platform. It's as if our Chief Financial Officer has obtained a separate Chief Financial Officer specifically committed to handling payments. This provides us with a protected and reliable method of making payments to our 10,000 employees worldwide.}
the very best global payroll managment app, saves me hours of time on a monthly basis, one single dashboard for my payroll, EOR and specialists
Staff member Website
Workers have access to an Employee Portal where they can see their pay slips, wage and tax declarations and employment files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global assists companies offer competitive advantages bundles to international staff members no matter the number of employees in the business. The business can establish medical insurance, short-term and long-lasting disability, vision, oral and maternity leave while getting rid of the requirement to source local benefits service providers in every country, create regional accounts and have a minimum variety of staff members.
The HR capabilities supplied by International HR encompass different functions such as monitoring vacation time, making sure compliance, assisting in the process of welcoming new workers and bidding goodbye to leaving ones, using a safe online platform for keeping employees' files, and providing support for work allow treatments in case your staff members require assistance in that location.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce spending, workforce diversity, total work costs dispersed per area, total work expenses per cycle and far more.
environments around the world 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 handling and building external relationships supporting Enterprise customers and solutions along with acting as an advisor for those of you that don't 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 prominent business worldwide. We concentrate on offering payroll and workforce management services to staff members in more than 160 nations. I am delighted to introduce Johnny Nash, as pointed out by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a satisfaction to fulfill 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 focused on payroll and payment solutions for the past seven years. The complexities and challenges of this field have constantly mesmerized me.
payroll payments and decided to sort of make a real go at that over the last five or six years where I've type of had a variety of different roles on the company side and also on the vendor side from a payroll perspective so really looking forward to this conversation today um and yeah thank you very much for your time everybody okay thanks Johnny uh we'll just offer everyone another couple of uh well one of the 30 seconds or two to join we all work back to back these days so we'll type of let them do that so it 'd be rather intriguing and I can see it going on currently just to hear where everyone is um it's nice to to type of like see where everyone originates 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 really bleak and I want 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 looking at the obstacle years of handling International payroll why companies maintain separate
checking account payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll expenses using virtual payroll accounts improving papaya International payroll payments as a tactical asset uh we'll likewise discuss a recap and that should leave his time at the extremely extremely end for a q a session so as the title of the webinar recommends payroll execs on relocating to Virtual payroll accounts and here is why as dispersed to remote and Worldwide workforces become a growing number of typical and managing them becomes increasingly more complicated Global companies are looking to discover Solutions and brand-new methods to streamline procedures particularly from a payroll and cross-border payment standpoint lots of companies preserve different checking account just for payroll while some have multiple accounts in various nations does it make sense for business to maintain different savings account often in different countries it does however just for payroll is there a much better method what role do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies streamline the episode complex procedures of
making payroll payments properly effectively firmly and on time during this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll checking account how companies properly forecast their payroll costs to increase working capital and how streamlining Worldwide payroll payments can turn them from a siled pane into a tactical asset so payroll can be challenging in enough in one nation but when you're doing it internationally it's next level and Beyond it becomes complicated for a variety of reasons most notably policies compliance information security and banking guidelines then there are the sheer numbers they add further complexity the worldwide Labor force is currently 3 and a half billion people by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion people that number is presently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing worldwide in the conventional payroll model there's often an overwhelming number of various systems causing time-consuming manual procedures and silos the number of Integrations could be non-existent in large quantities and or really extremely 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 frequently with pen and paper and that simply blows my mind every time I I believe
about it to offer you an idea of how far there still is to come according to Deloitte only 11 of services say they have Labor force information in real time that's another number that offers me sleepless nights and rather frankly the more a company spends on global payroll the less of a photo they see an absence of exposure likewise extends to payroll payments and failure to properly track these payments can cause compliance incidents in the last mile of the deal almost half of international services have actually revealed that they do not have the level of standardization they require in their procedures or desire and as a result eighty percent of errors are due to time reporting poor HCM information information entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and after that when you round everything off and the data is shipped to the incorrect location the average expense of an international data breach at this moment is 3.9 billion dollars once payrolls are done we still need to move the cash around the globe payroll and payments don't run efficiently if they rely on the required several procedures systems and partners it is just not possible so Johnny from a payments point of view and in your experience what else needs to be factored into the difficulties service face when they're making payments to workers or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be consisted of best and what does
it need to be thought about there's differing Bank information 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 need to pay from the client's own in-country account so there's complexity any place you look ideal ultimately constructing a knowledge base is absolutely vital however all over you look with payroll payment they are like extremely payments no if but some infants about it you are all superheroes processing payments for payroll if you take a look at the type of link between fintech and payroll it's closer than ever I believe there's now a bit more recognition that payroll payments are definitely fundamental and technology is allowing us to kind of progress with that it likewise also to contribute to that payroll and financing require to work closer together um with differing Savings account Details differing banking requirements and setup procedures is definitely crucial that payroll and finance teams work better together than ever um I'm constantly amazed when individuals say I've split payroll and payment um if you stroll down the street and asked anyone what is payroll who does not work in the payroll occupation would they divide 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 data collection all the way through to paying individuals anywhere they are however likewise paying statutory authorities and on statutory third parties so with the
world we live in and well-being being increasingly more important to add to kind of the level of intricacy there's more and more advantages being organ or being offered by companies across the world so again you're just aiming to include a growing number of payments to this already complex landscape so if you type of got any experience well I'm from your large experience here and I'm sure but have you got any experience in kind of genuine obstacles or genuine tough sort of pay uses to play to pay people I think yeah I imply over the last well yeah a number of years I would definitely say that the larger 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 in fact handling the payment side of things however you understand in in my viewpoint and my experience that does not always require to be the case you understand 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 efficient and they don't make them what they need to be in in an era of tech and an era that you know that we are working in today there is no reason we are still making this as hard as it requires to be agreed and rightly as you stated payroll is the single greatest liability that any company has from an expense viewpoint from an effect point of view on employees it is definitely critical that it's done correctly and on time so what we indicate by that is not a day before not a day after on pay day and payments have to be done right it has the biggest detrimental impact on individuals's wellness and many other aspects if people aren't paid uh I have actually always been surprised entering into this Market kind of the last 5 to 10 years is how little thanks the
The payroll team might not have been thanked for correctly processing payroll during a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is an essential cycle, and people only observe when things fail. However, when things go right, it's seen as simply a routine task. This is how it's perceived externally also. Therefore, it is necessary to ensure that tasks like Wi-Fi International and other essential matters are done properly. Utilizing the first International Payments first payroll payment option is a great initial action towards offering a comprehensive payroll solution for workers worldwide. Standardization, international processes, and lowering the variety of tools, platforms, and bank accounts needed for worldwide payroll are crucial consider accomplishing business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a couple of complaints when things don't go as prepared. Ultimately, we do not do it for the gratitude.
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 simple as possible for everybody that's involved in those processes and also so picture sorry I'm simply I was just gon na say envision the quantity of thanks you got if you might cover the quantity of individuals that we cover within this webinar I'm sure we're speaking about hundreds of thousands potentially Millions think of getting that many 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 a fascinating task attempting to clean 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 try to browse them and really see what was going on and kind of try to get back to everybody so carrying on look why do companies select to primary separate savings account there are companies out there doing precisely this for specific nations and I've worked in a business or numerous organizations doing exactly that I can say it doesn't constantly feel effective and it does develop more work I know we're not purposely doing that we're not developing extra work for anyone where we do not have to and anybody that's dealing with that process I 'd be interested to hear your thoughts Johnny why do you believe that we're doing that in in the in the quantity that we are I believe numerous factors one is it's the requirement I think individuals have actually got so used to we require a brand-new bank account we open an entity and rightly so you need it for payroll purposes but there are a variety of markets where it's not a requirement so I think it's simply been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that individuals have looked at things like trust accounts and numerous other methods um to to type of do it so I think there's a variety I think this is a process that requires looking at it needs altering however eventually individuals are extremely stuck to what they recognize
with ideal um modification is a tough thing we all don't like modification um so I think it's just kind of moving far from the standard as we've said so yeah so it keeps a great deal of track of stuff um I comprehend certainly the benefits of having keeping numerous savings account however there's a big amount of intricacy opts for establishing a bank account keeping it guaranteeing it can send International transfers guaranteeing it's set up with the best user accesses for individual individuals so the intricacy is big however I believe the truthful response is change um individuals haven't had the ability to alter or have not had necessarily the understanding to truly make that change into alternate Solutions aside from opening a savings account I think you have actually hit the nail on the head I believe it is knowledge you understand and there is a component of resistance to alter however we have actually always done it that way is no real excuse for not taking a look at the the benefits and the possibilities of carrying on and moving into you know what might nearly be identified to be the next Century or two there is a lot to keep track of and this method does position a number of obstacles um so Johnny might you inform us about those obstacles yeah naturally so there's a variety right there is so
I simply did you changed our Enterprise 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 staff members you deserve a corner office with a more detailed parking space since I mastered Worldwide payroll and payments with Papaya payroll OS did you
Papaya Global Bhutan