Find out more about Papaya Global Clients ... We now have the ability to handle 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 particularly devoted to managing payments. This supplies us with a secure and dependable method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time every month, one single control panel for my payroll, EOR and professionals
Staff member Portal
Staff members have access to an Employee Portal where they can view their pay slips, wage and tax statements and work documents. The website is available in numerous languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps companies provide competitive advantages plans to international staff members despite the number of workers in the company. The business can set up health insurance, short-term and long-lasting special needs, vision, dental and maternity leave while eliminating the requirement to source local benefits suppliers in every nation, develop local accounts and have a minimum number of employees.
Worldwide HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' documents and immigration services if your employees need work license assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into labor force costs, workforce diversity, total work expenses dispersed per place, overall work costs per cycle and much more.
environments around the world I provided management and strategy to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark stated I work throughout business managing and building external relationships supporting Business customers and options in addition to serving as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
company to make the time 100 list for many prominent companies worldwide we offer payroll payments and workforce management to all staff member key ins over 160 nations I am pleased to state that we likewise have as Mark said Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon great night depending on where you are in the world it's lovely to meet you and thank you quite for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over 10 years and particularly working on the payroll and payment sector for over seven years um I was captivated by the complexity the difficulty 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've type of had a range of different roles on the supplier side and also on the supplier side from a payroll viewpoint so truly looking forward to this discussion today um and yeah thank you very much for your time everyone fine 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 kind of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everybody is um it's nice to to kind of like see where everybody comes from and I truly do hope it's much sunnier than it remains 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 very gloomy and I want I was elsewhere at this moment in time alright so let's get started our program for today is as follows um we are going to be taking a look at the obstacle years of managing International payroll why companies keep different
Virtual payroll accounts are an alternative to traditional checking account for managing payroll payments. This is especially useful for global organizations with dispersed and remote workforces, as it simplifies the intricate process of cross-border payments. Instead of preserving separate checking account for payroll in various nations, virtual accounts and digital wallets use a more structured service. In this webinar, we will check out the benefits of using virtual payroll accounts and discuss why they are ending up being a tactical asset for payroll executives. We will also supply a wrap-up of the bottom lines covered and leave time for a Q&A session at the end.
making payroll payments properly efficiently securely and on time throughout this webinar we'll stroll you through the global pros and cons of a payroll wallet versus a payroll bank account how business accurately anticipate their payroll costs to increase working capital and how improving Worldwide payroll payments can turn them from a siled pane into a strategic asset so payroll can be challenging in adequate in one nation however when you're doing it internationally it's next level and Beyond it ends up being complex for a range of reasons most notably regulations compliance data security and banking rules then there are the sheer numbers they add further intricacy the global Labor force is currently three 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 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 traditional payroll model there's often a frustrating number of various systems causing lengthy manual processes and silos the number of Combinations could be non-existent in large amounts and or very really fundamental there's no genuine consistency structure 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 often with pen and paper and that just blows my mind each 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 businesses say they have Labor force data in real time that's another number that gives me sleep deprived nights and quite frankly the more a company invests in worldwide payroll the less of an image they see an absence of visibility likewise reaches payroll payments and failure to properly track these payments can lead to compliance accidents in the last mile of the deal nearly half of global companies have actually expressed that they do not have the level of standardization they require in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM data data entry mistakes improperly interacted hires and terminations in addition to absence management and system configurations and then when you round all of it off and the information is delivered to the incorrect location the average expense of a global data breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the cash all over the world payroll and payments do not run smoothly if they rely on the required numerous processes 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 difficulties company face when they're making payments to workers or otherwise that's an excellent question I constantly toss this back and say what is it what doesn't require to be consisted of best 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 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 need to pay from the client's own in-country account so there's complexity any place you look right ultimately constructing a knowledge base is definitely crucial but all over you look with payroll payment they resemble super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the kind 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 permitting us to kind of move forward with that it also too to add to that payroll and finance need to work closer together um with differing Checking account Particulars differing banking requirements and setup processes is absolutely important that payroll and financing teams work closer together than ever um I'm always impressed when individuals state I've 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 divide the payroll payment from computation I would say no so why do we as a market 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 also paying statutory authorities and on statutory 3rd parties so with the
world we reside in and wellness being a growing number of important to add to type of the level of complexity there's more and more benefits being organ or being used by companies throughout the world so again you're just seeking to add increasingly more payments to this already complex landscape so if you kind 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 real difficulties or real tough kind of pay utilizes to play to pay people I think yeah I suggest over the last well yeah a number of decades I would absolutely say that the larger a business gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the job there are teams feeding info into the next function as it were that's in fact managing the payment side of things but you understand in in my viewpoint and my experience that does not necessarily need to be the case you know long gone are the times where we need to produce additional handoffs in the processes that we run in they just make them more timely they make them less efficient and they do not make them what they require to be in in a period of tech and an age that you know that we are operating in today there is no reason that we are still making this as difficult as it requires to be concurred and appropriately as you said payroll is the single most significant liability that any business has from a cost viewpoint from an effect perspective on employees it is absolutely crucial that it's done correctly and on time so what we mean by that is not a day before not a day after on pay day and payments have to be done right it has the greatest destructive effect on people's wellness and many other factors if individuals aren't paid uh I have actually always been impressed entering this Market kind of the last five to 10 years is how little thanks the
The payroll group may not have been thanked for properly processing payroll throughout a webinar. If anybody has 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 only discover when things fail. However, when things go right, it's seen as just a routine task. This is how it's perceived externally also. Therefore, it is necessary to make sure that jobs like Wi-Fi International and other important matters are done properly. Utilizing the first International Payments very first payroll payment service is a terrific initial step towards supplying a thorough payroll service for staff members worldwide. Standardization, global procedures, and reducing the variety of tools, platforms, and bank accounts necessary for worldwide payroll are key factors in attaining service success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do periodically receive a couple of grievances when things don't go as prepared. Ultimately, we don't do it for the gratitude.
anyhow we understand how how essential 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 procedures and also so envision sorry I'm simply I was just gon na say imagine the amount of thanks you got if you could cover the quantity of individuals that we cover within this webinar I'm sure we're discussing hundreds of thousands potentially Millions think of getting that many thank you keeps in mind um I indicate it 'd be interesting to see the number of Post-it notes you got however it would certainly be an interesting job attempting to clean up 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 in fact see what was going on and kind of try to get back to everyone so moving on look why do business choose to main separate checking account there are services out there doing precisely this for specific countries and I've worked in a service or many companies doing exactly that I can say it does not constantly feel effective and it does develop more work I understand we're not deliberately doing that we're not developing additional work for anyone where we do not have to and any person that's managing 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 amount that we are I think many factors one is it's the standard I believe individuals have actually got so used to we require 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 requirement and the standard individuals have actually embraced and continue to do over years and years gone past to add to that people have actually looked at things like trust accounts and numerous other ways um to to kind of do it so I believe there's a variety I think this is a process that requires looking at it needs changing but eventually people are very stuck with what they recognize
with right um change is a challenging thing all of us do not like change um so I believe it's just type of moving away from the standard as we have actually said so yeah so it keeps a great deal of track of stuff um I understand undoubtedly the benefits of having maintaining multiple bank accounts but there's a huge quantity of intricacy chooses establishing a checking account keeping it guaranteeing it can send International transfers guaranteeing it's established with the ideal user accesses for specific individuals so the complexity is substantial however I believe the sincere response is modification um individuals have not had the ability to change or haven't had always the knowledge to actually make that change into alternate Solutions other than opening a checking account I believe you have actually struck the nail on the head I think it is knowledge you understand and there is an aspect of resistance to change however we've constantly done it that way is no real excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you know what might practically be identified to be the next Century or two there is a lot to track and this method does position several difficulties um so Johnny might you tell us about those obstacles yeah naturally so there's a range right there is so
I just did you changed our Enterprise to OS so now we can do our payroll and payments operation on a single platform yes it's like our CFO got a CFO for their CFO and now that I bulletproof payments to our 10 000 International workers you should have a corner office with a better parking space due to the fact that I mastered Global payroll and payments with Papaya payroll OS did you
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