Find out more about Papaya Global Payroll Legit ... We now have the ability to handle both our payroll and payments procedures on one merged platform. It's as if our Chief Financial Officer has actually acquired a different Chief Financial Officer particularly devoted to handling payments. This offers us with a safe and secure and trusted method of paying to our 10,000 staff members worldwide.}
the very best worldwide payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
Worker Website
Employees have access to a Staff member Website where they can see their pay slips, wage and tax declarations and work files. The website is available in multiple languages and can be accessed on a desktop or mobile device.
Advantages Administration
Papaya Global assists companies offer competitive benefits bundles to international employees no matter the number of employees in the company. The business can establish medical insurance, short-term and long-term impairment, vision, dental and maternity leave while eliminating the requirement to source regional advantages service providers in every country, create regional accounts and have a minimum variety of workers.
Worldwide HR Functionalities
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work authorization support.
HR Analytics
Papaya Global's payroll and HR analytics suite gives you insights into labor force spending, labor force diversity, total work expenses dispersed per place, total employment costs per cycle and far more.
environments around the world I offered leadership and method to populations of over a hundred thousand employees in more than 170 countries today I'm the payroll techniques for as Mark said I work throughout the business managing and building external relationships supporting Business customers and options along with acting as an advisor for those of you that don't know who papaya International is papaya is the first payroll and payments
business to make the time 100 list for the majority of influential business worldwide we offer payroll payments and labor force management to all worker key ins over 160 countries I am pleased to say that we also have as Mark said Johnny Nash with us today Johnny would you like to present yourself of course thank you good morning good afternoon good evening depending upon where you remain in the world it's charming to satisfy you and thank you quite for your time as Ian said my name is Johnny Nash and I'm the payments director here at um I have actually been in the payments market for over ten years and particularly dealing with the payroll and payment sector for over 7 years um I was captivated by the intricacy the difficulty in all of the above of
payroll payments and chose to sort of make a genuine go at that over the last five or 6 years where I have actually type of had a range of various roles on the company side and also on the vendor side from a payroll viewpoint so actually eagerly anticipating this discussion today um and yeah thank you quite for your time everyone all right thanks Johnny uh we'll simply give everyone another number of uh well among the 30 seconds or two to join we all work back to back these days so we'll kind of let them do that so it 'd be quite fascinating and I can see it going on currently 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 remains in the UK today certainly not the peak of the sunlight is it it's not no it's it's drizzling here it's extremely really uninspiring and I want I was somewhere else at this moment in time alright so let's get started our agenda for today is as follows um we are going to be looking at the difficulty years of handling Worldwide payroll why companies maintain different
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments forecasting payroll costs utilizing virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also review a wrap-up which needs to leave his time at the very extremely end for a q a session so as the title of the webinar recommends payroll officers on relocating to Virtual payroll accounts and here is why as dispersed to remote and Global labor forces become a growing number of common and managing them ends up being increasingly more complicated Global organizations are wanting to discover Solutions and brand-new ways to enhance procedures especially from a payroll and cross-border payment standpoint numerous companies maintain different bank account just for payroll while some have numerous accounts in various countries does it make good sense for companies to maintain separate bank accounts often in different nations it does however just for payroll exists a much better method what function do virtual accounts and digital wallets also known as virtual wallets play in helping multinational companies improve the episode complex procedures of
making payroll payments accurately efficiently firmly and on time throughout this webinar we'll stroll you through the worldwide benefits and drawbacks of a payroll wallet versus a payroll bank account how business accurately forecast their payroll costs to increase working capital and how enhancing International payroll payments can turn them from a siled pane into a tactical possession 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 complex for a variety of reasons most notably policies compliance information security and banking rules then there are the sheer numbers they include further intricacy the worldwide Labor force is currently three and a half billion individuals by 2030 it's estimated that in Africa alone they will contribute and additional 1.1 billion individuals that number is currently 500 million just for for a scale then factor in that there are some 230 million organizations and growing all doing their own thing around the world in the standard payroll design there's frequently an overwhelming number of various systems resulting in lengthy manual procedures and silos the number of Combinations could be non-existent in large quantities and or very really fundamental there's no real consistency framework we're residing in a period of tech but payroll has been slow to get on board in fact as much as 25 of payroll is still done by hand typically with pen and paper and that just 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 state 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 worldwide payroll the less of an image they see a lack of visibility also reaches payroll payments and inability to precisely track these payments can result in compliance accidents in the last mile of the transaction almost half of international businesses 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 data data entry errors poorly interacted hires and terminations as well as absence management and system setups and then when you round everything off and the data is delivered to the incorrect place 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 money all over the world payroll and payments don't run efficiently if they depend on the required numerous procedures systems and partners it is just not possible so Johnny from a payments viewpoint and in your experience what else requires to be factored into the difficulties organization face when they're paying to workers or otherwise that's a good question I always throw this back and say what is it what doesn't require to be consisted of right and what does
it need to be considered 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 abilities so can you pay it from International or do you need to pay from an in-country account do you need to pay from the customer's own in-country account so there's intricacy anywhere you look ideal eventually constructing a knowledge base is definitely important but all over you look with payroll payment they resemble very payments no if but some infants 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 believe there's now a bit more recognition that payroll payments are absolutely basic and innovation is enabling us to type of progress with that it likewise as well to contribute to that payroll and finance require to work closer together um with varying Savings account Particulars varying banking requirements and setup processes is absolutely necessary that payroll and finance teams work more detailed together than ever um I'm always amazed when people state I've split payroll and payment um if you walk down the street and asked anyone what is payroll who doesn't 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 process it's the point of data collection all the way through to paying individuals anywhere they are but also paying statutory authorities and on statutory third parties so with the
world we live in and wellness being a growing number of important to contribute to kind of the level of complexity there's a growing number of benefits being organ or being offered by services across the world so once again you're simply seeking to add increasingly more payments to this already complicated landscape so if you type of got any experience well I'm from your large experience here and I make certain but have you got any experience in kind of genuine challenges or real challenging kind of pay uses to play to pay people I think yeah I mean over the last well yeah a number of years I would certainly state that the bigger a company gets the more it tends to segregate the payroll and the payments works um there are groups doing one part of the job there are teams feeding information into the next function as it were that's in fact managing the payment side of things but you know in in my opinion and my experience that does not 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 just make them more prompt they make them less efficient and they do not make them what they need to be in in a period of tech and a period that you know that we are working in today there is no reason we are still making this as challenging as it needs to be agreed and appropriately as you said payroll is the single biggest liability that any organization has from an expense perspective from an impact perspective on workers it is absolutely critical 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 most significant destructive result on individuals's well-being and lots of other elements if people aren't paid uh I have actually constantly been surprised entering into this Market kind of the last five to ten years is how little thanks the
The payroll group may not have been thanked for properly processing payroll during a webinar. If anybody has been thanked, it would be excellent to hear their success story, whether it's from all staff members or not. Payroll is an important cycle, and people just see when things fail. However, when things go right, it's seen as just a routine job. This is how it's viewed externally also. For that reason, it is vital to guarantee that tasks like Wi-Fi Worldwide and other vital matters are done properly. Using the first Worldwide Payments very first payroll payment service is an excellent preliminary action towards offering an extensive payroll service for staff members worldwide. Standardization, worldwide procedures, and minimizing the variety of tools, platforms, and checking account required for global payroll are crucial consider attaining organization 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 planned. Eventually, we don't do it for the gratitude.
anyhow we know 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 everyone that's associated with those processes and likewise so imagine sorry I'm just I was simply gon na say think of the quantity of thanks you got if you might cover the amount of people that we cover within this webinar I'm sure we're discussing numerous thousands potentially Millions picture getting that numerous thank you keeps in mind um I suggest it 'd be interesting to see how many Post-it notes you got however it would certainly be an intriguing task attempting to clean up all those up for sure oh definitely I can't imagine the size of my my Outlook inbox if that was the case um you 'd require days of the week to attempt to browse 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 different bank accounts there are services out there doing precisely this for particular countries and I have actually operated in an organization or numerous companies doing exactly that I can say it doesn't constantly feel effective and it does create more work I understand we're not purposely doing that we're not creating extra work for any person where we do not need to and anyone that's handling 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 amount that we are I believe lots of reasons one is it's the standard I think people have actually got so used to we require a new bank account we open an entity and rightly so you require it for payroll functions however there are a number of markets where it's not a requirement so I believe it's simply been the standard and the norm the people have embraced 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 sort of do it so I think there's a variety I believe this is a procedure that requires taking a look at it needs altering however ultimately people are really stuck to what they're familiar
with right um modification is a challenging thing all of us do not like change um so I believe it's just sort of moving far from the norm as we have actually said so yeah so it keeps a lot of track of stuff um I understand certainly the benefits of having keeping several checking account however there's a substantial amount of intricacy goes with establishing a bank account maintaining it ensuring it can send out International transfers ensuring it's established with the right user accesses for private individuals so the complexity is huge however I believe the sincere response is change um individuals haven't had the ability to change or have not had necessarily the knowledge to truly make that change into alternate Solutions other than opening a savings account I think you've struck the nail on the head I think it is knowledge you know and there is an element of resistance to alter but we've always done it that way is no genuine reason for not looking at the the benefits and the possibilities of moving on and moving into you know what could practically be determined to be the next Century or two there is a lot to keep track of and this approach does present several obstacles um so Johnny might you tell us about those obstacles yeah of course so there's a variety right there is so
I just recently made a modification to our Business system by transitioning to OS. As a result, we can now manage our payroll and payment jobs on one platform. It feels like our CFO has actually acquired another CFO, and with this enhanced ability, I have actually effectively protected payments for our 10,000 staff members worldwide. Your commitment to mastering global payroll and payments using Papaya payroll OS is good. You deserve a corner workplace with a parking space that is more detailed, considering your achievements.
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