Find out more about Papaya Global Payroll Information ... We now have the capability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a different Chief Financial Officer specifically devoted to managing payments. This supplies us with a secure and dependable approach of paying to our 10,000 workers worldwide.}
the very best worldwide payroll managment app, conserves me hours of time monthly, one single dashboard for my payroll, EOR and specialists
The Staff member Portal provides staff members with the ability to access and view important files such as pay slips, wage and tax statements, and work records. This website is accessible on both desktop and mobile devices and is provided in various languages.
Benefits Administration
Papaya Global assists business offer competitive benefits packages to worldwide workers despite the number of staff members in the company. The business can set up health insurance, short-term and long-term disability, vision, oral and maternity leave while getting rid of the requirement to source regional advantages companies in every nation, create local accounts and have a minimum number of workers.
International HR Functionalities
's HR performances consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and immigration services if your workers require work permit help.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into workforce costs, labor force diversity, total work expenses distributed per location, overall work expenses per cycle and far more.
Internationally, I have demonstrated leadership and tactical expertise in guiding massive populations of over 100,000 workers across 170 nations. Presently, I am responsible for supervising payroll methods, as discussed by Mark. My function involves managing and establishing external partnerships, supporting Business customers, and offering advisory services. In addition, I am proud to be a part of Papaya Global, a pioneering payroll and payments options company.
company to make the time 100 list for many influential business on the planet we supply payroll payments and labor force management to all employee enters over 160 countries I am pleased to say that we also have as Mark stated Johnny Nash with us today Johnny would you like to introduce yourself of course thank you good morning excellent afternoon good night depending on where you remain in the world it's lovely to fulfill you and thank you very much for your time as Ian stated my name is Johnny Nash and I'm the payments director here at um I've remained in the payments industry 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 problem in all of the above of
payroll payments and decided to sort of make a genuine go at that over the last 5 or six years where I've type of had a variety of various functions on the provider side and also on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you quite for your time everybody all right thanks Johnny uh we'll just give everyone another number of uh well one of the 30 seconds or two to join all of us work back to back nowadays so we'll kind of let them do that so it 'd be quite interesting and I can see it going on already simply to hear where everyone is um it's nice to to kind of like see where everyone 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 really really dreary and I wish I was elsewhere at this moment in time alright so let's begin our program for today is as follows um we are going to be taking a look at the obstacle years of handling Global payroll why business preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments anticipating payroll costs using virtual payroll accounts streamlining papaya International payroll payments as a tactical property uh we'll likewise review a recap and that must leave his time at the really extremely end for a q a session so as the title of the webinar recommends payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and International workforces become increasingly more typical and managing them becomes increasingly more complicated International organizations are seeking to find Solutions and brand-new ways to streamline procedures particularly from a payroll and cross-border payment standpoint numerous organizations preserve separate checking account just for payroll while some have multiple accounts in different nations does it make good sense for business to maintain separate bank accounts often in various nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets also called virtual wallets play in helping multinational companies improve the episode complex processes of
Making sure precise, effective, and timely payroll payments is a complex obstacle for companies running worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, learn how business forecast payroll expenses to optimize working capital, and discover how enhancing global payroll payments can transform them from a burdensome job into a strategic possession.
Handling payroll internationally is a challenging task due to different policies, compliance requirements, information security concerns, and banking rules. The large number of workers and businesses adds to the complexity, with an estimated 3.5 billion people in the international workforce, 500 million of whom are in Africa, and 230 million organizations worldwide.
Traditional payroll systems frequently lead to manual procedures, data silos, and an absence of integration, leading to disparities and inadequacies. Despite living in an age of technological developments, payroll management has been slow to adjust, with as much as 25% of payroll still processed manually, typically using pen and paper. This webinar objectives to supply insights and options to simplify and optimize international payroll payments.
about it to offer you a concept of how far there still is to come according to Deloitte only 11 of companies say they have Labor force information in real time that's another number that gives me sleep deprived nights and quite honestly the more a business spends on worldwide payroll the less of a photo they see a lack of visibility likewise encompasses payroll payments and failure to accurately track these payments can cause compliance incidents in the last mile of the transaction almost half of worldwide organizations have actually expressed that they do not have the level of standardization they need in their processes or desire and as a result eighty percent of errors are because of time reporting bad HCM information data entry errors inadequately interacted hires and terminations as well as absence management and system configurations and then when you round all of it off and the data is delivered to the wrong location the typical expense of a worldwide information breach at this moment is 3.9 billion dollars as soon as payrolls are done we still need to move the money all over the world payroll and payments don't run smoothly if they count on the necessary multiple procedures systems and partners it is simply not possible so Johnny from a payments perspective and in your experience what else needs to be factored into the difficulties service face when they're paying to workers or otherwise that's a great concern I constantly throw this back and state what is it what doesn't need to be consisted of right and what does
it require to be thought about there's varying Bank information so the length of an eye band a swift an account number routing code per nation there's payment time frames there's payment capabilities so can you pay it from International or do you need to pay from an in-country account do you have to pay from the consumer's own in-country account so there's complexity anywhere you look right ultimately developing a knowledge base is absolutely critical but everywhere you look with payroll payment they are like incredibly payments no if but some children about it you are all superheroes processing payments for payroll if you 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 fundamental and technology is allowing us to kind of progress with that it also also to contribute to that payroll and financing need to work closer together um with varying Savings account Particulars differing banking requirements and setup procedures is absolutely important that payroll and finance groups work closer together than ever um I'm always astonished when individuals say I have actually divided payroll and payment um if you stroll down the street and asked anybody what is payroll who doesn't operate in the payroll profession 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 process it's the point of information 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 live in and well-being being increasingly more important to add to kind of the level of intricacy there's a growing number of advantages being organ or being offered by businesses across the world so again you're simply looking to include increasingly more payments to this currently complex landscape so if you sort of got any experience well I'm from your vast experience here and I make sure however have you got any experience in kind of genuine difficulties or real challenging type of pay uses to play to pay people I believe yeah I suggest over the last well yeah a number of years I would definitely say that the bigger a service gets the more it tends to segregate the payroll and the payments functions um there are groups doing one part of the task there are groups feeding information into the next function as it were that's really handling the payment side of things but you understand 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 need to develop extra handoffs in the processes that we run in they simply make them more timely they make them less effective and they do not make them what they require to be in in an age of tech and an era that you understand that we are operating in today there is no reason we are still making this as hard as it requires to be concurred 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 workers it is absolutely critical that it's done properly and on time so what we indicate 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 destructive result on individuals's well-being and many other factors if people aren't paid uh I've constantly been impressed entering this Market sort of the last 5 to ten years is how little thanks the
payroll team get um so I'm not sure anyone on this sort of webinar has actually been informed thank you for processing my payroll properly if you have it 'd be excellent to hear your success story and whether that's been from all employees or not um however ultimately payroll is such an important cycle we all become aware of it when it fails everybody jumps up and down when it fails however when it goes right it's simply a tick box workout and I believe that's how it's seen from the external view as well um so yeah it's likewise like why WI-Fi Global why all of this things is definitely vital that all of this things is done correctly so leveraging the very first Worldwide Payments very first payroll payment option is a fantastic initial step um supplying an end-to-end payroll service for your employees globally again I think is another big um procedure once again aligning and ensuring you have standardization International processes all of those things are absolutely essential to success success of organizations and minimizing the variety of tools platforms and bank accounts they require 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 thousand of them within a payroll cycle don't anticipate to you do get the odd 5 or 10 or whatever it might be with the with the the grievances where things have not gone quite where they're indicated to be um I don't think any of us are actually doing that for for the thanks
anyway we understand how how crucial a function 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 everybody that's associated with those processes and also so envision sorry I'm simply I was just gon na say think of the amount of thanks you got if you might cover the quantity of people that we cover within this webinar I make certain we're discussing hundreds of thousands potentially Millions picture getting that lots of thank you keeps in mind um I imply 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 think of the size of my my Outlook inbox if that held true um you 'd require days of the week to attempt to check out them and really see what was going on and type of try to return to everybody so carrying on appearance why do business pick to main separate savings account there are organizations out there doing precisely this for specific nations and I have actually operated in a company or lots of companies doing exactly that I can say it doesn't always feel effective and it does produce more work I know we're not deliberately doing that we're not developing additional work for anybody where we do not have to and anybody that's dealing with 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 actually got so used to we require a new savings account we open an entity and rightly so you require it for payroll purposes however there are a number of markets where it's not a requirement so I think it's just been the requirement and the standard individuals have embraced and continue to do over years and years passed by to contribute to that individuals have actually taken a look at things like trust accounts and numerous other ways um to to sort of do it so I believe there's a range I think this is a process that requires looking at it needs changing however eventually people are very stuck with what they recognize
with right um modification is a difficult thing all of us don't like modification um so I think 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 comprehend certainly the benefits of having keeping numerous bank accounts but there's a big amount of complexity chooses setting up a checking account maintaining it ensuring it can send International transfers guaranteeing it's established with the best user accesses for individual individuals so the complexity is substantial but I think the honest response is modification um people haven't been able to alter or have not had always the knowledge to truly make that change into alternate Solutions aside from opening a savings account I think you've struck the nail on the head I believe it is knowledge you know and there is an element of resistance to alter but we've constantly done it that way is no real excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be identified to be the next Century or two there is a lot to track and this approach does pose numerous difficulties um so Johnny might you tell us about those challenges yeah obviously so there's a variety right there is so
I just did you changed our Business 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 employees you should have a corner workplace with a more detailed parking space because I mastered International payroll and payments with Papaya payroll OS did you
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