Find out more about Papaya Global Payroll Life Insurance ... We now have the capability to handle both our payroll and payments procedures on one combined platform. It's as if our Chief Financial Officer has acquired a separate Chief Financial Officer particularly dedicated to handling payments. This provides us with a secure and trustworthy technique of making payments to our 10,000 workers worldwide.}
the BEST international payroll managment app, saves me hours of time each month, one single control panel for my payroll, EOR and professionals
The Employee Portal offers employees with the ability to gain access to and view important files such as pay slips, wage and tax declarations, and employment records. This website is accessible on both desktop and mobile devices and is used in different languages.
Benefits Administration
Papaya Global helps business provide competitive advantages packages to international staff members despite the number of employees in the company. The business can establish health insurance, short-term and long-lasting disability, vision, oral and maternity leave while removing the requirement to source regional benefits providers in every nation, produce regional accounts and have a minimum number of workers.
Worldwide HR Functionalities
's HR functionalities consist of PTO tracking, compliance, onboarding/offboarding tools, online storage for employees' files and migration services if your staff members require work license help.
HR Analytics
Papaya Global's payroll and HR analytics suite offers you insights into workforce costs, labor force diversity, overall employment expenses distributed per location, total employment expenses per cycle and a lot more.
environments around the world I provided leadership and strategy to populations of over a hundred thousand staff members in more than 170 nations today I'm the payroll methods for as Mark said I work throughout the business managing and building external relationships supporting Enterprise customers and options along with functioning as an advisor for those of you that do not understand who papaya Global is papaya is the very first payroll and payments
As a worldwide business, we are honored to be consisted of on the distinguished Time 100 list of the most influential companies worldwide. We concentrate on supplying payroll and workforce management services to workers in more than 160 nations. I am delighted to present Johnny Nash, as mentioned by Mark. Now, I'll let Johnny present himself. Good day to all, despite your area. It's an enjoyment to satisfy you and thank you for your valuable time. As Ian pointed out, I am Johnny Nash, the director of payments at our organization. With over a decade of experience in the payments industry, I have concentrated on payroll and payment options for the past seven years. The complexities and difficulties of this field have actually always captivated me.
payroll payments and chose to sort of make a real go at that over the last 5 or 6 years where I've sort of had a range of various functions on the company side and likewise on the vendor side from a payroll perspective so actually looking forward to this discussion today um and yeah thank you very much for your time everyone fine thanks Johnny uh we'll simply offer everyone another number of uh well one of the 30 seconds or so 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 already simply to hear where everybody is um it's nice to to sort 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 sunshine is it it's not no it's it's drizzling here it's very really uninspiring and I wish I was somewhere else at this moment in time all right so let's get going our program for today is as follows um we are going to be looking at the difficulty years of managing Worldwide payroll why companies preserve separate
checking account payroll virtual wallets versus payroll savings account payroll payroll uh sorry papaya payroll payments anticipating payroll costs utilizing virtual payroll accounts simplifying papaya International payroll payments as a tactical property uh we'll also go over a recap and that ought to leave his time at the really extremely end for a q a session so as the title of the webinar suggests payroll officers on transferring to Virtual payroll accounts and here is why as dispersed to remote and Worldwide labor forces become increasingly more typical and managing them becomes a growing number of complex Global organizations are aiming to discover Solutions and new ways to improve procedures particularly from a payroll and cross-border payment viewpoint lots of companies keep different checking account just for payroll while some have multiple accounts in various countries does it make sense for companies to keep separate checking account in some cases in various countries it does however just for payroll is there a much better way what function do virtual accounts and digital wallets likewise known as virtual wallets play in helping multinational companies simplify the episode complex procedures of
Guaranteeing accurate, efficient, and prompt payroll payments is a complex challenge for companies operating worldwide. Join us for a webinar to check out the benefits and disadvantages of payroll wallets versus payroll checking account, learn how companies forecast payroll costs to enhance working capital, and discover how streamlining global payroll payments can change them from a burdensome task into a tactical asset.
Managing payroll worldwide is an overwhelming job due to different policies, compliance requirements, information security concerns, and banking rules. The sheer variety of staff members and services contributes to the complexity, with an estimated 3.5 billion individuals in the worldwide labor force, 500 countless whom are in Africa, and 230 million companies worldwide.
Conventional payroll systems typically result in manual procedures, information silos, and a lack of integration, leading to disparities and ineffectiveness. Despite living in an era of technological improvements, payroll management has been sluggish to adapt, with as much as 25% of payroll still processed by hand, frequently utilizing pen and paper. This webinar objectives to provide insights and options to simplify and optimize global payroll payments.
about it to give you an idea of how far there still is to come according to Deloitte only 11 of companies state they have Labor force information in real time that's another number that offers me sleep deprived nights and quite honestly the more an organization invests in international payroll the less of a picture they see an absence of visibility also extends to payroll payments and inability to properly track these payments can lead to compliance mishaps in the last mile of the deal almost half of international services have expressed that they do not have the level of standardization they need in their procedures or desire and as a result eighty percent of errors are due to time reporting bad HCM information data entry mistakes improperly communicated hires and terminations along with lack management and system configurations and after that when you round it all off and the data is delivered to the wrong place the typical cost of a worldwide data breach at this moment is 3.9 billion dollars when payrolls are done we still require to move the cash around the globe payroll and payments do not run efficiently if they depend on the necessary numerous processes 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 obstacles company face when they're paying to employees or otherwise that's a great concern I constantly throw this back and say what is it what does not need to be consisted of best and what does
it need to be thought of there's differing Bank details so the length of an eye band a swift an account number routing code per nation there's payment timespan 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 any place you look ideal eventually developing a knowledge base is absolutely vital but all over 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 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 acknowledgment that payroll payments are definitely fundamental and innovation is enabling us to sort of move forward with that it likewise also to add to that payroll and finance need to work closer together um with varying Bank Account Particulars differing banking requirements and setup processes is absolutely vital that payroll and financing groups work better together than ever um I'm constantly astonished when people say I've divided payroll and payment um if you stroll down the street and asked anybody what is payroll who does not work in the payroll occupation would they split the payroll payment from estimation 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 eventually it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying individuals wherever they are however also paying statutory authorities and on statutory third parties so with the
The contemporary world positions a high worth on wellness and the payment landscape is ending up being progressively complex. Companies are continually presenting brand-new advantages and payment alternatives, which contributes to the total complexity. Big corporations typically divide their payroll and payment processing into separate teams, which can lead to inefficiencies and traffic jams. In my viewpoint, this doesn't have to hold true. In today's technically innovative period, there's no reason for maintaining troublesome procedures. Payroll, the business's biggest expenditure, need to be processed properly and on time. Even small delays can negatively impact staff members' well-being and have far-reaching repercussions. Therefore, it's critical to prioritize accurate and prompt payments.
The payroll group might not have actually been thanked for correctly processing payroll throughout a webinar. If anyone has been thanked, it would be fantastic to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and people just observe when things fail. Nevertheless, when things go right, it's viewed as just a routine job. This is how it's perceived externally too. Therefore, it is essential to make sure that jobs like Wi-Fi International and other essential matters are done correctly. Utilizing the first Worldwide Payments first payroll payment service is an excellent preliminary action towards providing a detailed payroll solution for employees worldwide. Standardization, international procedures, and minimizing the variety of tools, platforms, and bank accounts essential for worldwide payroll are crucial consider attaining organization success. While we don't anticipate a hundred thousand thank yous within a payroll cycle, we do sometimes receive a few grievances when things don't go as planned. Ultimately, we don't do it for the gratitude.
anyhow we understand how how crucial a function it is which'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 picture sorry I'm simply I was just gon na say picture the amount of thanks you got if you might cover the quantity of individuals that we cover within this webinar I make sure we're discussing numerous thousands potentially Millions envision getting that lots of thank you notes um I mean it 'd be interesting to see the number of Post-it notes you got but it would certainly be an interesting task attempting to clean up all those up for sure oh absolutely I can't picture the size of my my Outlook inbox if that was the case um you 'd need days of the week to try to browse them and in fact see what was going on and kind of shot to get back to everybody so proceeding look why do business pick to main separate checking account there are services out there doing exactly this for specific countries and I have actually worked in a business or many organizations doing precisely that I can say it does not constantly feel effective and it does create more work I know we're not deliberately doing that we're not creating extra work for anyone where we don't need to and anybody that's handling 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 quantity that we are I believe lots of factors one is it's the requirement I think people have got so used to we need a new savings 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 believe it's just been the standard and the norm individuals have adopted and continue to do over years and years gone past to contribute to that individuals have looked at things like trust accounts and lots of other methods um to to sort of do it so I believe there's a variety I think this is a procedure that requires looking at it requires altering but ultimately people are extremely stuck with what they recognize
with best um modification is a hard thing we all don't like change um so I believe it's just sort 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 obviously the benefits of having preserving numerous savings account however there's a huge quantity of complexity goes with establishing a checking account preserving it ensuring it can send International transfers guaranteeing it's set up with the best user accesses for specific people so the intricacy is huge but I think the truthful response is modification um people have not had the ability to change or haven't had always the understanding to truly make that change into alternate Solutions besides opening a bank account I think you have actually hit the nail on the head I think it is understanding you understand and there is an aspect of resistance to alter however we have actually constantly done it that way is no genuine excuse for not taking a look at the the advantages and the possibilities of proceeding and moving into you understand what could almost be identified to be the next Century or two there is a lot to keep an eye on and this technique does position several obstacles um so Johnny might you inform us about those difficulties yeah of course so there's a variety right there is so
I just recently made a change to our Business system by transitioning to OS. As a result, we can now handle our payroll and payment jobs on one platform. It feels like our CFO has gotten another CFO, and with this improved capability, I have successfully secured payments for our 10,000 workers worldwide. Your commitment to mastering worldwide payroll and payments utilizing Papaya payroll OS is commendable. You are worthy of a corner office with a parking space that is better, considering your accomplishments.
Papaya Global Art