Find out more about חברת Papaya Global ... We now have the ability to manage both our payroll and payments processes on one combined platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer particularly devoted to handling payments. This supplies us with a safe and secure and trustworthy method of paying to our 10,000 staff members worldwide.}
The advanced worldwide payroll management app simplifies my payroll process, saving me a substantial amount of time every month. With its easy to use interface, I have access to a single dashboard that efficiently manages my payroll, EOR, and contractors.
Employee Portal
Staff members have access to a Worker Portal where they can view their pay slips, wage and tax statements and work documents. The website is offered in several languages and can be accessed on a desktop or mobile phone.
Advantages Administration
Papaya Global helps companies offer competitive advantages packages to global employees regardless of the variety of workers in the company. The company can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while removing the need to source local benefits providers in every country, produce local accounts and have a minimum variety of staff members.
Global HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your employees require work permit support.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into labor force spending, labor force variety, overall work expenses dispersed per area, overall work expenses per cycle and far more.
environments across the globe I provided leadership and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll strategies for as Mark stated I work across business managing and building external relationships supporting Business customers and services as well as serving as an advisor for those of you that don't understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be included on the distinguished Time 100 list of the most prominent business worldwide. We focus on offering payroll and workforce management services to workers in more than 160 countries. I am delighted to present Johnny Nash, as discussed by Mark. Now, I'll let Johnny introduce himself. Good day to all, no matter your area. It's a pleasure to satisfy you and thank you for your important time. As Ian pointed out, I am Johnny Nash, the director of payments at our company. With over a years of experience in the payments industry, I have actually focused on payroll and payment options for the past 7 years. The intricacies and difficulties of this field have constantly mesmerized me.
payroll payments and decided to kind of make a genuine go at that over the last five or six years where I've type of had a range of various functions on the supplier side and likewise on the supplier 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 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 sort of let them do that so it 'd be quite fascinating and I can see it going on currently just to hear where everybody is um it's nice to to sort 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 extremely extremely dreary and I want I was elsewhere at this moment in time okay so let's begin our agenda for today is as follows um we are going to be taking a look at the challenge years of managing Worldwide payroll why business keep different
Virtual payroll accounts are an alternative to traditional bank accounts for handling payroll payments. This is particularly beneficial for global organizations with dispersed and remote labor forces, as it streamlines the complex procedure of cross-border payments. Instead of keeping separate checking account for payroll in different nations, virtual accounts and digital wallets use a more structured solution. In this webinar, we will explore the benefits of using virtual payroll accounts and discuss why they are becoming a tactical property for payroll executives. We will likewise provide a recap of the main points covered and leave time for a Q&A session at the end.
making payroll payments precisely efficiently safely and on time throughout this webinar we'll walk you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll savings account how companies accurately forecast their payroll expenses to increase working capital and how streamlining Global payroll payments can turn them from a siled pane into a strategic possession so payroll can be difficult in adequate in one country but when you're doing it internationally it's next level and Beyond it ends up being complicated for a variety of factors most notably regulations compliance information security and banking guidelines then there are the sheer numbers they include additional intricacy the global Workforce is currently 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 consider that there are some 230 million businesses and growing all doing their own thing worldwide in the traditional payroll design there's frequently an overwhelming number of different systems leading to time-consuming manual processes and silos the variety of Combinations could be non-existent in big amounts and or extremely very fundamental there's no genuine consistency structure we're living in an era of tech but payroll has actually been slow 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 whenever I I think
about it to provide 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 provides me sleep deprived nights and rather frankly the more a business spends on international payroll the less of an image they see a lack of exposure also reaches payroll payments and inability to properly track these payments can result in compliance accidents in the last mile of the deal almost half of global services have actually expressed that they do not have the level of standardization they require in their processes or want and as a result eighty percent of mistakes are because of time reporting bad HCM data information entry mistakes inadequately interacted hires and terminations along with lack management and system configurations and then when you round it all off and the data is delivered to the wrong place the typical 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 all over the world payroll and payments do not run smoothly if they rely on the required several processes systems and partners it is just not possible so Johnny from a payments perspective and in your experience what else requires to be factored into the obstacles organization face when they're making payments to workers or otherwise that's a great concern I always throw this back and say what is it what doesn't need to be included right and what does
it need to be considered 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 have to pay from the client's own in-country account so there's complexity any place you look best ultimately developing a knowledge base is absolutely crucial but all over you look with payroll payment they resemble incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you take a look at the type 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 absolutely basic and innovation is allowing us to kind of move forward with that it also as well to contribute to that payroll and finance need to work closer together um with varying Bank Account Details varying banking requirements and setup processes is definitely crucial that payroll and finance teams work more detailed together than ever um I'm always astonished when people say I have actually split payroll and payment um if you stroll down the street and asked anyone 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 an industry accept that why our payroll and payments so frequently 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 important to add to sort of the level of intricacy there's a growing number of benefits being organ or being used by companies throughout the world so again you're simply seeking to add a growing number of payments to this currently complicated landscape so if you sort of got any experience well I'm from your large experience here and I make sure but have you got any experience in kind of genuine obstacles or genuine challenging kind of pay uses to play to pay individuals I think yeah I indicate over the last well yeah a number of years I would absolutely state that the larger a service 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 in fact managing the payment side of things but you know in in my viewpoint and my experience that doesn't necessarily need to be the case you know long gone are the times where we need to create extra handoffs while doing sos that we operate in they simply make them more timely they make them less effective and they don't make them what they require to be in in a period of tech and a period that you understand that we are working in today there is no reason why we are still making this as tough as it requires to be agreed and rightly as you said payroll is the single most significant liability that any company has from a cost perspective from an effect viewpoint on employees it is definitely important that it's done properly 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 detrimental result on individuals's well-being and lots of other elements if individuals aren't paid uh I've constantly been astonished coming into this Market type of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for correctly processing payroll during a webinar. If anybody has actually been thanked, it would be fantastic to hear their success story, whether it's from all employees or not. Payroll is a crucial cycle, and people just discover when things go wrong. However, when things go right, it's viewed as just a regular task. This is how it's perceived externally as well. For that reason, it is vital to ensure that jobs like Wi-Fi International and other vital matters are done correctly. Utilizing the very first International Payments very first payroll payment option is an excellent initial action towards supplying a detailed payroll option for staff members worldwide. Standardization, international procedures, and decreasing the number of tools, platforms, and savings account required for worldwide payroll are key consider achieving service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes get a couple of complaints when things do not go as prepared. Ultimately, we do not do it for the gratitude.
anyhow we know 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 everyone that's associated with those processes and also so think of sorry I'm just I was simply gon na state imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I make sure we're speaking about hundreds of thousands potentially Millions envision getting that numerous thank you keeps in mind um I indicate it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing job attempting to clean up all those up for sure oh definitely 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 check out them and actually see what was going on and sort of try to get back to everybody so carrying on appearance why do companies choose to main different savings account there are companies out there doing exactly this for specific countries and I've operated in a company or numerous businesses doing precisely that I can state it does not always feel efficient and it does produce more work I understand we're not intentionally doing that we're not producing extra work for any person where we don't have to and any person that's managing 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 think numerous factors one is it's the standard I think individuals have got so utilized to we need a brand-new checking account we open an entity and appropriately so you need it for payroll purposes however there are a variety of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have taken a look at things like trust accounts and lots of other ways um to to kind of do it so I think there's a range I believe this is a process that requires taking a look at it requires changing but ultimately individuals are really stuck to what they're familiar
with ideal um modification is a tough thing we all don't like change um so I think it's simply type of moving away from the standard as we've said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having preserving numerous savings account however there's a big quantity of complexity opts for setting up a savings account preserving it ensuring it can send out International transfers ensuring it's established with the right user accesses for specific individuals so the complexity is huge but I think the truthful response is change um people have not had the ability to alter or haven't had always the knowledge to truly make that change into alternate Solutions other than opening a bank account I think you've struck the nail on the head I believe it is knowledge you know and there is an aspect of resistance to alter but we've constantly done it that way is no real reason for not taking a look at the the advantages and the possibilities of moving on and moving into you understand what might almost be figured out to be the next Century or so there is a lot to keep track of and this approach does present numerous challenges um so Johnny might you tell us about those challenges yeah of course so there's a variety right there is so
I recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment tasks on one platform. It seems like our CFO has actually gained another CFO, and with this boosted capability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering global payroll and payments utilizing Papaya payroll OS is good. You should have a corner workplace with a parking space that is more detailed, considering your achievements.
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