Find out more about Papaya Global Payroll Owner ... We now have the ability to handle both our payroll and payments procedures on one unified platform. It's as if our Chief Financial Officer has gotten a separate Chief Financial Officer specifically committed to managing payments. This offers us with a secure and trusted method of making payments to our 10,000 workers worldwide.}
The innovative global payroll management app improves my payroll process, saving me a considerable amount of time monthly. With its easy to use interface, I have access to a single dashboard that efficiently handles my payroll, EOR, and specialists.
Staff member Portal
Employees have access to a Staff member Website where they can view their pay slips, wage and tax statements and employment files. The portal is offered in multiple languages and can be accessed on a desktop or mobile device.
Benefits Administration
Papaya Global helps business offer competitive benefits bundles to worldwide workers no matter the variety of employees in the business. The business can establish health insurance, short-term and long-term special needs, vision, dental and maternity leave while eliminating the need to source local advantages companies in every country, develop regional accounts and have a minimum number of employees.
International HR Performances
's HR performances include PTO tracking, compliance, onboarding/offboarding tools, online storage for workers' documents and migration services if your workers need work permit assistance.
HR Analytics
Papaya Global's payroll and HR analytics suite provides you insights into workforce spending, labor force variety, total work costs dispersed per area, overall employment costs per cycle and far more.
environments across the globe I provided management and method to populations of over a hundred thousand workers in more than 170 nations today I'm the payroll techniques for as Mark stated I work throughout the business handling and structure external relationships supporting Enterprise customers and services as well as functioning as a consultant for those of you that do not understand who papaya Worldwide is papaya is the first payroll and payments
As an international company, we are honored to be consisted of on the prestigious Time 100 list of the most influential business worldwide. We specialize in providing payroll and labor force management services to employees in more than 160 countries. I am delighted to introduce Johnny Nash, as mentioned by Mark. Now, I'll let Johnny introduce himself. Good day to all, regardless of your location. It's a satisfaction to fulfill 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 years of experience in the payments industry, I have concentrated on payroll and payment services for the past seven years. The complexities and challenges of this field have always mesmerized me.
payroll payments and chose to kind of make a real go at that over the last 5 or 6 years where I have actually type of had a variety of various roles on the service provider side and likewise 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 everyone all right thanks Johnny uh we'll just give everyone another couple of uh well among the 30 seconds or two to join all of us work back to back nowadays so we'll type of let them do that so it 'd be quite intriguing and I can see it going on already simply to hear where everyone is um it's nice to to sort of like see where everybody originates from and I really 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 very very bleak and I wish I was elsewhere at this moment in time okay so let's begin our program for today is as follows um we are going to be taking a look at the difficulty years of managing Worldwide payroll why companies preserve different
bank accounts payroll virtual wallets versus payroll checking account payroll payroll uh sorry papaya payroll payments forecasting payroll costs using virtual payroll accounts improving papaya Worldwide payroll payments as a tactical property uh we'll also go over a recap which must leave his time at the very really end for a q a session so as the title of the webinar suggests payroll execs on moving to Virtual payroll accounts and here is why as dispersed to remote and Global workforces become more and more typical and handling them becomes more and more complex Worldwide organizations are looking to discover Solutions and new methods to streamline processes especially from a payroll and cross-border payment viewpoint many companies preserve different bank account just for payroll while some have multiple accounts in different countries does it make good sense for business to maintain separate savings account in some cases in different nations it does but just for payroll is there a much better method what function do virtual accounts and digital wallets likewise known as virtual wallets play in assisting international companies simplify the episode complex procedures of
Ensuring accurate, efficient, and timely payroll payments is a complex difficulty for organizations operating worldwide. Join us for a webinar to explore the benefits and downsides of payroll wallets versus payroll checking account, find out how companies anticipate payroll costs to optimize working capital, and find how streamlining international payroll payments can change them from a challenging job into a strategic property.
Managing payroll internationally is a challenging job due to numerous policies, compliance requirements, data security issues, and banking rules. The sheer number of employees and companies adds to the complexity, with an approximated 3.5 billion individuals in the worldwide workforce, 500 countless whom are in Africa, and 230 million services worldwide.
Conventional payroll systems typically lead to manual procedures, data silos, and an absence of combination, causing disparities and inadequacies. Despite residing in a period of technological improvements, payroll management has been sluggish to adjust, with as much as 25% of payroll still processed by hand, typically using pen and paper. This webinar aims to provide insights and services to simplify and optimize worldwide payroll payments.
about it to offer you an idea of how far there still is to come according to Deloitte just 11 of companies state they have Workforce data in real time that's another number that offers me sleep deprived nights and quite honestly the more a business spends on international payroll the less of a picture they see an absence of visibility also reaches payroll payments and failure to precisely track these payments can lead to compliance mishaps in the last mile of the transaction almost half of worldwide services have expressed that they don't have the level of standardization they require in their procedures or want and as a result eighty percent of errors are because of time reporting poor HCM data information entry errors inadequately communicated hires and terminations as well as lack management and system setups and then when you round all of it off and the data is shipped to the wrong place the typical cost of a global information 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 smoothly if they count on the required several processes 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 challenges company face when they're making payments to employees or otherwise that's an excellent question I constantly throw this back and say what is it what does not require to be consisted of ideal and what does
it require to be thought of there's varying Bank information 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 need to pay from the customer's own in-country account so there's intricacy wherever you look best ultimately building a knowledge base is definitely vital but everywhere you look with payroll payment they are like super payments no if however some children about it you are all superheroes processing payments for payroll if you look at the sort 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 essential and innovation is enabling us to type of progress with that it likewise also to add to that payroll and finance require to work closer together um with varying Checking account Details varying banking requirements and setup processes is absolutely vital that payroll and financing groups work closer together than ever um I'm constantly impressed 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 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 ultimately it's payroll is an end-to-end procedure it's the point of data collection all the way through to paying people any place they are but also paying statutory authorities and on statutory 3rd parties so with the
world we live in and well-being being more and more essential to add to kind 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 wanting to include a growing number of payments to this currently complex landscape so if you kind of got any experience well I'm from your huge experience here and I make certain but have you got any experience in kind of real obstacles or real challenging kind of pay utilizes to play to pay people I believe yeah I imply over the last well yeah a couple of years I would absolutely state 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 task there are groups feeding info into the next function as it were that's actually managing the payment side of things but you understand in in my opinion and my experience that doesn't necessarily need to be the case you understand long gone are the times where we require to produce additional handoffs in the processes that we operate in they just make them more prompt they make them less efficient and they don't make them what they need to be in in a period of tech and an era that you understand that we are operating in today there is no reason that we are still making this as challenging as it needs to be agreed and rightly as you stated payroll is the single biggest liability that any company has from a cost perspective from an impact point of view on workers it is absolutely important that it's done correctly and on time so what we indicate 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 damaging result on people's well-being and numerous other aspects if people aren't paid uh I have actually always been surprised entering this Market sort of the last 5 to ten years is how little thanks the
The payroll group may not have actually been thanked for properly processing payroll throughout a webinar. If anybody has been thanked, it would be terrific to hear their success story, whether it's from all staff members or not. Payroll is an essential cycle, and individuals just observe when things go wrong. However, when things go right, it's seen as simply a routine job. This is how it's perceived externally as well. For that reason, it is vital to ensure that jobs like Wi-Fi Worldwide and other essential matters are done correctly. Utilizing the first International Payments first payroll payment service is a great initial action towards offering a comprehensive payroll option for employees worldwide. Standardization, international procedures, and lowering the number of tools, platforms, and savings account essential for global payroll are crucial consider achieving business success. While we do not anticipate a hundred thousand thank yous within a payroll cycle, we do occasionally receive a few problems when things don't go as planned. Ultimately, we don't do it for the thankfulness.
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 involved in those procedures and also so picture sorry I'm simply 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 make certain we're talking about hundreds of 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 definitely be an intriguing task trying to clean up all those up for sure oh definitely I can't envision the size of my my Outlook inbox if that held true um you 'd require days of the week to try to look through them and actually see what was going on and sort of shot to get back to everybody so carrying on appearance why do business select to primary separate checking account there are businesses out there doing exactly this for particular nations and I have actually operated in a service or many services doing precisely that I can state it does not always feel efficient and it does develop more work I know we're not purposely doing that we're not developing additional work for anyone where we do not need to and anybody 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 numerous factors one is it's the standard I believe people have actually got so utilized to we need a new checking account we open an entity and appropriately 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 simply been the standard and the standard individuals have actually adopted and continue to do over years and years passed by to add to that people have looked at things like trust accounts and numerous other methods um to to kind of do it so I think there's a range I think this is a process that needs looking at it requires altering but ultimately individuals are very stuck with what they recognize
with best um change is a hard thing we all do not like change um so I think it's simply kind of moving away from the standard as we have actually said so yeah so it keeps a lot of track of things um I comprehend certainly the benefits of having keeping multiple savings account but there's a big amount of complexity opts for establishing a savings account maintaining it ensuring it can send International transfers guaranteeing it's set up with the right user accesses for individual individuals so the intricacy is substantial however I believe the sincere answer is change um individuals have not been able to change or have not had necessarily the knowledge to really make that change into alternate Solutions besides opening a checking account I believe you've struck the nail on the head I believe it is understanding you understand and there is an element of resistance to alter however we have actually constantly done it that way is no genuine excuse for not looking at the the benefits and the possibilities of moving on and moving into you know what could almost be determined to be the next Century or so there is a lot to track and this approach does position several challenges um so Johnny could you inform 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 handle our payroll and payment jobs on one platform. It seems like our CFO has gotten another CFO, and with this boosted ability, I have effectively secured payments for our 10,000 workers worldwide. Your devotion to mastering international payroll and payments using Papaya payroll OS is good. You should have a corner workplace with a parking space that is closer, considering your accomplishments.
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